TSX-V: TECT $0.08 OTCQB: TETOF $0.06075 Gold $2,343


Tectonic Metals Appoints Dr. John Armstrong To The Board Of Directors

VANCOUVER, B.C., March 12, 2024 – Tectonic Metals Inc. (Tectonic” or the “Company) (TSXV:TECT) (OTCQB:TETOF), a mineral exploration company applying a disciplined, up-front de-risking strategy to address the economics, community benefits, and sustainability of the Company’s projects, today announced the appointment of Dr. John P. Armstrong, Ph.D., P Geol., to its Board of Directors and the resignation of Curtis J. Freeman from its Board of Directors.  

"It is an honour to welcome Dr. John Armstrong's to Tectonic Metals’ Board of Directors," expressed Tony Reda, President and CEO of Tectonic. "Our collaboration dates back to the formative years at Kaminak Gold Corporation, where I was privileged to learn from John and observe his remarkable geological and exploration acumen in action, as well as the high regard in which he is held by his colleagues.  Fast forward some twenty years later and I now have the privilege to work with him again. John brings a valuable perspective to the Tectonic Board with his wealth of experience in business, government and regulatory affairs, mineral deposits, and the advancement of projects from exploration through development and into production. His distinguished career is marked by successful exploration projects as well as operational experience in both open pit and underground mining. We eagerly look forward to the invaluable insights, strategic direction, and wealth of knowledge that John will bring to our Board. His appointment marks an exciting new chapter for Tectonic Metals."

“It is with a deep sense of gratitude that we also announce Curt Freeman's retirement from our Board of Directors,” stated Tony Reda, President & CEO of Tectonic. “Curt's profound understanding of Alaska, geological expertise, and dedication have been instrumental in shaping Tectonic into the exploration company it is today.  On behalf of the entire Tectonic team, I extend our heartfelt thanks for his valued contributions and years of service and wish him all the best in everything he undertakes."

About Dr. John P. Armstrong, Ph.D., P Geol.

Dr. Armstrong has more than 30 years of combined experience in mining, mineral exploration, and government. Dr. Armstrong was with Lucara Diamond Corp. for more than 10 years where he was the Vice President of Mineral Resources and then in 2018 the Vice President of Technical Services. He was directly involved in the implementation of innovative and transformative diamond recovery techniques and responsible for modelling the unique diamond size distribution of the Karowe Diamond Mine. Dr. Armstrong led the Lucara team through study phases and ultimately the start of underground mining in progressing the Karowe underground expansion project. Dr. Armstrong has been involved in the planning and execution of successful diamond exploration and sampling programs ranging from generative to delineation and valuation. Dr. Armstrong spent his early career working on gold projects and mines in Yellowknife, Red Lake, and the Hope Bay Greenstone Belt.  He was also the District Geologist and Diamond Geologist for Indigenous and Northern Affairs Canada (INAC) between 1998 and 2004. Dr. Armstrong was the Hutchison Visiting Chair for Mineral Deposits at the University of Western Ontario from 2008 to 2010 where he served as a visiting professor, educating and mentoring the next generation of geologists—some of which have since become notable executives in the exploration industry. Dr. Armstrong received an undergraduate degree and his Ph.D. in Geology from the University of Western Ontario, where his Ph.D. focused on the silicate and sulphide mineral chemistry of free-milling and refractory gold ores of the Con Mine, Yellowknife.

John Armstrong is married to Allison Rippin Armstrong, who has been a Director of Tectonic since 2019 and Tectonic Board Chair since 2021.

Stock Option Grant

The Company announces that it has granted an aggregate of 800,000 incentive stock options to a director and key consultant to purchase up to 800,000 common shares (“Option Shares”) in the capital of Tectonic. The incentive stock options have a term of five years from the date of grant, vesting periods up to three years, and an exercise price of $0.10 per Option Share.

About Tectonic Metals Inc.

Tectonic brings a highly disciplined capital allocation and development process to mineral exploration. By consistently limiting their focus to tier 1 opportunities that fit their formula for mine economics, and de-risking projects upfront, the team has established a tremendous track record of success. Members of the Tectonic team have been directly involved in identifying and monetizing several significant gold discoveries throughout N. America that have created a tremendous amount of value for shareholders and stakeholders.

To learn more about Tectonic, please click here.

On behalf of Tectonic Metals Inc.,

Tony Reda
President and Chief Executive Officer

For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact Tom McMillan, Investor Relations, at toll-free 1.888.685.8558 or by email at tom@tectonicmetals.com.

Cautionary Note Regarding Forward-Looking Statements

Certain information in this news release constitutes forward-looking information and statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions and include, but are not limited to, the potential for mineralization at Tectonic’s projects, any future exploration activities and the size; the receipt of any regulatory approvals, including the final approval of the TSXV.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental and other approvals and financing on time, obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Tectonic, and there is no assurance they will prove to be correct.

Although Tectonic considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements necessarily involve known and unknown risks, including, without limitation: the Company’s ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Although Tectonic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Tectonic does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.