Canyon Resources Limited (ASX: CAY) ('Canyon' or the 'Company') is pleased to announce that it has appointed Mr Jean-Sebastien Boutet as Chief Executive Officer (CEO).
Mr Boutet is an experienced metals and mining executive, with more than 16 years in the bauxite and aluminium industry
Highlights
Canyon secures highly experienced metals and mining executive Jean-Sebastien Boutet as CEO to drive development of the Minim Martap Bauxite Project
Mr Boutet is an accomplished leader and boasts a very strong background in bauxite project development, commodity marketing, operations, international negotiations, business & corporate development and international supply chain logistics
Mr Boutet most recently held senior positions with Alufer Mining Limited and Alcoa Corporation and boasts extensive bauxite and alumina experience worldwide including West Africa, previously serving alongside the Guinea Mines Minister on the board of Compagnie Des Bauxites de Guinee (CBG)
Managing Director, Phillip Gallagher to transition to an Executive Director role
Mr Boutet's official commencement date with the Company is 1 January 2022. The material terms and conditions of Mr Boutet's Executive Services Agreement are set out in the Annexure to this announcement.
Mr Boutet has more than 6 years' experience working in West Africa, most recently as Chief Commercial Officer at Alufer Mining Limited, an independent bauxite mining company that discovered and developed the now operational Bel Air bauxite deposit. He was previously a member of the Board of Directors of Compagnie des Bauxite de Guinee (CBG) while working as Commercial and Market Development Director for Alcoa Corporation
With a background in business development, operations management and mine logistics, Mr Boutet has significant experience in securing key partnerships, developing and implementing marketing and commercial strategy, and ensuring key workstreams towards development are achieved on time and on budget. The appointment of Mr Boutet is well timed as the Company shifts itsfocusto the financing and development of the Minim Martap Bauxite Project, with key offtake and other commercial partnerships progressing.
Mr Boutet will complement the existing and highly experienced team in Cameroon of Mr Rick Smith (CEO of Camalco Cameroon SA) and Mr Andre Henry (Director Port and Rail of Camalco Cameroon SA).
Mr Boutet is bilingual in French and English and holds an Executive Master of Business Administration qualification from McGill and HEC Universities in Montreal, Canada.
Canyon founder and Managing Director, Mr Phillip Gallagher, is currently in Cameroon conducting negotiations on the Mining Convention for the Project and intends to transition to an Executive Director role.
Mr Gallagher will transition Mr Boutet into the key CEO role and will continue to work closely with the established team to progress the Minim Martap Project into production
Mr Boutet commented: 'I am thrilled and highly motivated to join Canyon Resources at such a pivotal time in the development of the Minim Martap Project. This project is most likely the highest-grade undeveloped bauxite deposit in the world. I am very excited to use my experience and to work with the team to deliver a world class bauxite mine into production in Cameroon creating value for all stakeholders.'
Canyon Non-Executive Chairman, Mr Cliff Lawrenson, commented: 'We are delighted to have JeanSebastien join the Canyon team. He is an outstanding mining executive who is eager to put his experience and connections to work. This is a natural progression as Canyon evolves from exploration and the permitting phase of the Minim Martap Project to the construction and operations phase. We now have a team of experienced West African bauxite operational and business development executives, and we are well positioned to bring the world's highest-grade bauxite mine into production. 'Phil Gallagher, who has accumulated a wealth of experience and a deep network in Cameroon, will remain with the Company as an Executive Director to transition the CEO role and to support the next phase of development.
Phil has done a tremendous job in progressing the Minim Martap Project over the past few years, often in trying circumstances, and we are most appreciative of his drive and contribution in this regard. His continued contribution to the Project leveraging from his established and sound relationships with senior members of the Cameroon government, with added support from our new CEO, will underpin the success of the Minim Martap Project.'
About Canyon Resources
Canyon Resources is focussed on the development of the 100% owned Minim-Martap Bauxite Project, a direct shipping ore (DSO) project development opportunity in central Cameroon. The Project is situated adjacent to the main rail line linking the region to the Atlantic port of Douala. The rail line is currently underutilised and coupled with the existing port of Douala, supports a low capex, low opex solution to deliver high grade, low contaminant, seaborne bauxite to market to fuel the large and growing aluminium industry as described in the 2020 Pre-Feasibility Study. The country is planning a rail extension and is undergoing rail line debottlenecking upgrades, giving longer term potential for export through the newly built, deep-water port of Kribi.
Forward looking statements
All statements other than statements of historical fact included in this announcement including, without limitation, statements regarding future plans and objectives of Canyon, are forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as 'anticipate', 'believe', 'could', 'estimate', 'expect', 'future', 'intend', 'may', 'opportunity', 'plan', 'potential', 'project', 'seek', 'will' and other similar words that involve risks and uncertainties.
These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that are expected to take place. Such forwardlooking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management of Canyon that could cause Canyon's actual results to differ materially from the results expressed or anticipated in these statements.
Canyon cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. Canyon does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by applicable law and stock exchange listing requirements.
Contact:
Tel: +61 8 6382 3342
Email: info@canyonresources.com.au
CANYON RESOURCES LIMITED 
