Braveheart Resources Appoints Peter Lacey as Independent Director

October 27, 2021 3:12 PM EDT

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Calgary, Alberta--(Newsfile Corp. - October 27, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") is pleased to announce the following changes to the Board effective this date. Peter A. Lacey, ICD.D has agreed to join the Board as an Independent Director of the Company. Brian Murray, one of the co-founders of Braveheart and its longest standing Director has notified the Company of his intention to retire.

Mr. Lacey is an international businessman and the founder and former Chairman of Cervus Equipment Corporation (TSX: CERV) ("Cervus"), a Canadian public company headquartered in Calgary, Alberta. Cervus comprises 63 equipment dealerships located across Western Canada and Ontario, representing John Deere agriculture equipment, Peterbilt Truck dealerships and material handling dealerships. Cervus also operates John Deere dealerships in Australia and New Zealand. On October 22, 2021, Mr. Lacey and the management team at Cervus completed the sale of Cervus to Brandt Tractor Ltd. ("Brandt") for approximately $302 million in the aggregate.

Mr. Lacey is currently Chairman of Hemostemix Inc., a startup stem cell public company (TSXV: HEM) which has 91 global patents and is completing Phase 2 clinical trial for FDA approval. He has most recently served as Lead Director for Entrec Corporation and Audit Committee Chairman for Memex Inc, two other Canadian publicly companies, as well as director for several other private companies. Mr. Lacey served on the Red Deer College Board of Governors for seven years including four years as Chairman. He has also served as a director and past President of the Board of Canada West Equipment Dealers Association, a trade association serving the farm equipment dealer industry in Western Canada.

Mr. Lacey received his ICD.D designation from the Rotman School of Business in Toronto, Ontario and the Institute of Corporate Directors in 2015.

Peter Lacey commented: "I am excited to join Braveheart as an independent director. Braveheart has acquired two significant past-producing copper projects in Canada. Based on the quality of its assets Braveheart is currently under-valued. My top priority will be to assist management in completion of a restart of the Bull River Mine. I am very familiar with the Bull River project and believe it is one of the most advanced copper projects in Western Canada that can become a copper producer within the near term".

David W. Johnston, Chairman of the Board commented: "I am extremely pleased to welcome Peter Lacey to our Board. Peter has a strong business acumen and is a seasoned executive and director. His diverse industry background will further strengthen the depth of our Board. I want to thank Brian Murray for his guidance and support as a founder of Braveheart. He helped lay the foundation for the Company we have today. We wish Brian all the best in retirement".

The Company is also pleased to announce the release of its consolidated financial results for Q1 2022 ending August 31, 2021. Detailed results and management's discussion and analysis are now available on SEDAR.

About Braveheart Resources Inc.

Braveheart is a mining company primarily focused on advancing two near-term copper assets in Canada. Braveheart's main asset is the 100% owned Bull River Mine project (>85MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart's newest acquisition is the 100% owned Thierry Mine project (>860MM lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.

Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@braveheartresources.com
Website: www.braveheartresources.com

For more investor information, please contact Braveheart at:

Manish Grigo
Director, Corporate Development
M: +1-416-569-3292
E: mgrigo@braveheartresources.com

Caution Regarding Forward-Looking Information

This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. 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 information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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 new release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101049



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