Patriot Resources appoints Keating, Mai to board

Executive Summary

• Patriot Resources Corp. announced significant changes to its executive leadership and board of directors, with Jeremy Ross and Ali Sodagar resigning and Fiona Keating appointed as CEO and Director, and Quentin Mai appointed as Director.
• The company approved a share-for-debt settlement to convert $429,975 of unpaid fees owed to directors, former directors, and a former officer into common shares at a price of $0.18 per share.
• The appointments and the debt settlement are both subject to approval by the TSX Venture Exchange.

Key Details

• CEO Resignation: Jeremy Ross resigned as CEO and director, effective August 20, 2025.
• Director Resignation: Ali Sodagar resigned as director, effective August 20, 2025.
• New CEO Appointment: Fiona Keating, PEng, PMP, appointed as CEO and director.
  • Background: Professional engineer with a bachelor of applied sciences in civil and mining engineering.
  • Experience: Over 25 years in early-stage growth from mineral discovery to production.
  • Previous Employers: Worked on-site at properties with Falconbridge (XStrata) and Phelps Dodge (Freeport-McMoRan); worked at head office with Placer Dome (Barrick Gold) and Teck Cominco (Teck Resources).
  • Skills: Commodity price analysis, production studies, contractor oversight, mine operations, survey, drilling, and blasting.
• New Director Appointment: Quentin Mai appointed as director.
  • Experience: Over 25 years in the mining industry.
  • Previous Employers: Spent a decade with Corvus Gold (culminating in its acquisition by AngloGold Ashanti for $570-million in 2022).
  • Previous Role: Managed business development for International Tower Hill, steering it from inception to a peak valuation exceeding $800-million in market capitalization in 2010.
  • Capital Raising: Contributed to raising over $250-million in capital.
• Debt Settlement Terms:
  • Type: Share-for-debt settlement.
  • Amount: Conversion of $429,975 of debt (owing but unpaid fees).
  • Recipients: Certain directors, former directors, and a former officer.
  • Price: Common shares issued at $0.18 per share.
  • Hold Period: Minimum hold period of four months and one day from the date of issuance.
• Regulatory Status:
  • The debt settlement is considered a related party transaction under Multilateral Instrument 61-101.
  • The company relies on the formal valuation exemption (Section 5.5(a)) and minority approval exemption (Section 5.7(1)(a)) of MI 61-101, as the fair market value of the transaction does not exceed 25% of the company's market capitalization.
  • Both the management appointments and the debt settlement are subject to TSX Venture Exchange approval.

Notable Quotes

• "The company would like to thank Mr. Ross and Mr. Sodagar for their contributions to the company, and wishes them well in their future endeavours."