Komet Resources Inc.

TSX VENTURE : KMT


Komet Resources Inc.

August 22, 2014 09:08 ET

Komet Resources Inc.: Operation Manager Appointment

QUEBEC CITY, QUEBEC--(Marketwired - Aug. 22, 2014) - Komet Resources inc. (« Komet » or the « Company ») (TSX VENTURE:KMT) announces the appointment of Mr. Mario Othot as Operation Manager at Komet Afrique SA, a 100% company-owned subsidiary. These appointments will be effective on August 1, 2014.

Mr. Mario Othot

Mr. Othot was recruited into the Canadian Forces in 1975 and trained as « Field engineer ». He subsequently worked as foreman for several construction companies, particularly in civil engineering works, demolition works and building constructions. At the end of the 80's, as superintendant, he oversaw the surface excavation works, surface buildings and underground civil works in the Hydro-Québec's underwater river crossing tunnel project, a 4km-long tunnel under the St. Lawrence River.

Mr. Othot started is career in the mining industry in 1991 with the mining company Québec Cartier, where he held different positions, as he worked as Pit Foreman, Mine Controller/Foreman, Mine Project Coordinator, Mine Training Leader, Mine Operations Section Chief, and Duty Operation Chief, which includes amongst others Inventory Management and Maintenance Management of a park of 130 mining vehicles.

From 2004 to 2006, he worked as Warehouse Operator for a large Quebec manufacturing company and then went back to the mining industry, but this time, in Africa.

His African experience started in Niger. Hired in 2006 as Chief Trainer at Semafo's SML subsidiary in Niger, he rapidly joined the local Logistics Team and got the position of Camp and Surface Safety Manager. From 2007 to 2014 he was relocated a few times in different Semafo's subsidiaries, working successively at SML, Semafo Guinée S.A. and Semafo Burkina Faso S.A. Along these years at Semafo, he was Procurement & Logistics Manager and Storeperson, worked as Mining Operations Chief in Guinea and finally, as Duty Operation Chief in Burkina Faso for the Mana underground mine start-up phase.

Mr. Othot has been on-site at the Guiro mine for one month now, with our metallurgist and the people from Imagri, in order to secure the equipments and make an exhaustive inventory. Being in Burkina Faso, he is taking this opportunity to review:

  • the production forecasts for 10 months;
  • the elution process analysis;
  • the VAT system operation, recommendation and comments on the cells filling;
  • the crushing/grinding system optimization (comments and observations) and planned purchases confirmation.

Stock purchase options

A total of two hundred fifty thousand (250 000) stock options were granted to the new manager. The fair value of these options on the hiring date was 0.52$.

More information about the corporation is available at: www.kometgold.com

Forward-Looking Statements

Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange's policies) accepts any liability of any kind as to the authenticity or accuracy of this release. This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet Inc.'s ("Komet") control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet's management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.

Outstanding shares: 40 255 047

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