Shandong Gold Appoints Canadian Mining Executive CEO of Streamers Gold

TORONTO, Aug. 13, 2020 /CNW/ - Shandong Gold Mining (HongKong) Co. Ltd. (SDG-HK), a publicly listed mining corporation based in Hong Kong, today announced the appointment of Mark Wall as CEO of Streamers Gold Mining Corporation Limited, its wholly owned subsidiary. Streamers, SDG-HK and Shandong Gold, act together as one group in respect of the acquisition of TMAC Resources Ltd., the owner of the Hope Bay mining project in Nunavut.

"We have worked closely with Mr. Wall during our successful partnership with Barrick Gold and welcome him to lead our Canadian business," said Mr. Liu Qin, Director of Shandong Gold Mining (HongKong) Co. Ltd. Shandong has had a partnership with Barrick for more than three years and the two companies jointly run the Veladero gold mine in Argentina, where Mr. Wall served as Executive General Manager. "His extensive background in the industry will serve us well in Nunavut, beginning with the development of an expansion feasibility study aimed at doubling the output at Hope Bay."

"This is a great opportunity to be part of a meaningful development," Mr. Wall said. "I know Shandong Gold very well and welcome the chance to lead the team that is focused on creating value at Hope Bay for all stakeholders. A successful and sustaining operation will help retain existing Canadian jobs in the North and continue paying royalties to our Inuit partners. It is a project with enormous potential."

Shandong's acquisition of TMAC has received all Chinese regulatory approvals and TMAC shareholders voted in favour of it in June. TMAC has also received a final order from the Ontario Superior Court of Justice approving the transaction and the Commissioner of Competition has issued a "no action" letter and terminated the waiting period early.  The transaction is subject to and is undergoing the approval process under the Investment Canada Act.

Mr. Wall has more than 24 years of experience in the mining industry, including most recently at Nevada Copper, a mid-tier US copper producer. He was initially responsible for commercial aspects of the company and more recently as the executive responsible for operations, exploration, feasibility studies and project development.

Mr. Wall also spent 12 years at Barrick Gold until 2018 where he was Senior Vice President & Operations Officer, responsible for coordinating all aspects of Barrick's portfolio of operations. He was Barrick's lead on the joint venture with Shandong at the 80 million ton per annum gold mine in the high Andes mountains in Argentina. He also had responsibility for non-financial assurance activities (Environment, Safety & Health, Maintenance, Technical Services, Community Relations and Security), and other senior roles. He also served on the Executive Committee of Australia's largest open pit gold mine, a joint venture between Barrick and Newmont. Prior to joining Barrick, Mr. Wall worked with Placer Dome Inc. and Western Mining Corporation.

Mr. Wall holds various degrees and qualifications, including a Master of Business Administration, Master of Management, Masters Certificate in Risk Management & Business Performance, Diploma in Project Management and Diploma of Minerals Processing.  Mr. Wall is a Canadian citizen who resides in Canada.

About Shandong Gold Mining Company

Headquartered in Jinan, Shandong province, China, Shandong Gold Mining Co., Ltd. was founded in 2000, listed on the Shanghai Stock Exchange in 2003 and on the Main Board of the Hong Kong Stock Exchange in 2018. SD GOLD has approximately 16,000 employees and produced approximately 1.3 million ounces of gold in 2019. SD GOLD's international assets include its 50% interest in the Veladero mine, with its partner Barrick Gold Corporation, with whom SD GOLD Group entered into a Strategic Cooperation Agreement.

SD GOLD adheres to the safety and environmental protection "double zero" target of zero safety responsibility accidents and zero environmental pollution accidents, and upholds the development concept of "SD GOLD, Eco-mining" to actively promote resource conservation and emission reduction. SD GOLD, and its related subsidiaries, currently have 12 mines that qualify as a "National Grade Green Mine" in China, with a goal to have all mines reach "National Grade Green Mine" status by the end of 2020.

SD GOLD Group directly and indirectly hold in aggregate approximately 47% of the total issued shares of SD GOLD, SD GOLD Group, in turn, is owned by the government of the province of Shandong, China.

SOURCE Shandong Gold Mining Company

Longview Communications Inc., Peter Block, [email protected]; Alan Bayless, [email protected]