Asbestos Corporation Limited Announces Changes to its Board of Directors

THETFORD MINES, QC, May 29, 2024 /CNW/ - Asbestos Corporation Limited announced today that, at its Annual Meeting of Shareholders held on May 29, 2024 in Thetford Mines, Quebec, Mr. Richard Poulin was elected to the Board of Directors.

Mr. Richard Poulin holds a Bachelor's degree in engineering from Polytechnique Montréal and a Ph.D. in mineral economics from McGill University (1991). He began his career as head of the geology and mining department of the consulting engineering firm Géomines ltée (1975-1987), for which he carried out projects in Canada, South America and Africa. Subsequently, he became a professor of mining engineering at The University of British Columbia (1990-1995) and then at Université Laval (1995-2021) where he was appointed Vice-Dean of the Faculty of Science and Engineering (1998-2002). Elected President of the Conférence internationale des formations d'ingénieurs et de techniciens d'expression française de l'Agence universitaire de la Francophonie (2012-2016), appointed to the Board of Directors of the Cégep de Thetford from 2000 to 2004, he is a Fellow of the Canadian Institute of Mining, Metallurgy and Petroleum and an emeritus member of the Canadian Bureau for International Education.

Asbestos Corporation Limited is a natural resource company that focuses on the development of industrial minerals in order to provide value-added products that meet the criteria of customers worldwide with regard to performance and economic and ecological concerns. Asbestos Corporation Limited's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol AB.H.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: general market and industry conditions, risks related to commissioning, to continuous operations and to commercialization of new technologies and other risks disclosed in the Corporation's filings with Canadian Securities Administrators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management as of the date of this press release. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

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

SOURCE Société Asbestos Ltée

Information: Guy Bérard, President, Tel. (office): [phone], Email: [email protected]