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Inventus Announces New Director, Advisor and Pardo Update

TORONTO, April 03, 2023 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce that Mr. Perry Ing, CA, CPA, CFA, has joined the Board of Directors. Perry is an accomplished executive who has served as the Chief Financial Officer of several high-profile mining companies including Kirkland Lake Gold (acquired by Agnico Eagle in 2022), Mountain Province Diamonds Inc. (TSX:MPVD); and currently serves as CFO of McEwen Mining Inc. (NYSE/TSX:MUX). Perry brings a wealth of knowledge from his involvement in large gold and diamond mining operations and numerous corporate transactions. Perry owns 4 million shares and 2 million warrants of Inventus.

Concurrent with Perry’s appointment, Mr. Scott Heatherington has retired from the Board. We would like to thank Scott very much for his dedicated service to the Company since 2015.

We are also pleased to announce that Mr. William (Bill) Shaver, P.Eng, ICD.D, has agreed to be a strategic technical advisor to the Company. Bill has over 50 years of management and executive experience in all facets of mine design, construction, and operations. In 1980, he was a founder of Dynatec Corporation, which became one of the leading contracting and mine operating groups in North America. In 2013, he was recognized as the Ernst and Young Entrepreneur of the Year for his devotion to bringing innovation to the mining industry. Recently he served as Chief Operating Officer of INV Metals (acquired by Dundee Precious Metals in 2021) and is currently interim COO of McEwen Mining. Bill is a resident of Sudbury and owns 6 million shares and 3 million warrants of Inventus.

Pardo Update

Inventus has engaged Snowden Optiro, a global consulting firm that has unique experience with paleoplacer gold systems, to conduct a geostatistical study of the recent drilling and bulk sampling data from Pardo. The most recent surface bulk sampling results (see press release dated September 27, 2022) returned a gold grade of 3.4 g/t Au for the 4,979 tonnes processed, which compared favorably to the predicted grade and tonnage of 3.3 g/t and 5,526 tonnes, respectively. The aim of the Snowden study is to optimize our upcoming resource drill program, providing adequate data to support a maiden mineral resource estimate. Once the study is complete the resource drill program can be properly planned with an anticipated start date early in the second half of 2023.

For further information, please contact:

Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.

About Inventus Mining Corp.

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal assets are a 100% interest in the Pardo Paleoplacer Gold Project and the Sudbury 2.0 Critical Mineral Project located northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has approximately 164.8 million common shares outstanding.

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Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

Qualified Person

The Qualified Person responsible for the geological technical content of this news release is Inventus’ Vice-President Exploration, Wesley Whymark, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.

Forward-Looking Statements

This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “if”, “yet”, “potential”, “undetermined”, “objective”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations.

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