Vancouver, British Columbia — July 16, 2025
Karus Mining Inc. announces that, following recent changes to the Board of Directors, Karus is fast-tracking the re-start of exploration at its highly prospective, district-scale South Cariboo and Mineral Creek assets.
Board and Management Actions
- Initiated a search for a new CEO and supporting exploration team; Alex Gostevskikh will remain as Interim CEO through this process.
- Assembled a Technical Advisory Committee to develop exploration plans for the Mineral Creek and South Cariboo projects.
- Re-started the process to raise capital and list Karus shares on a Canadian stock exchange.
“The new Board has hit the ground running as we look to fast-track and deliver on the exploration potential of Karus' assets. We have launched the search for a permanent CEO to take the company's exploration plans forward. We are also working with major shareholders and capital market players to develop a capital and listing plan. I am very excited for the future and the prospects to unlock value for shareholders.”
— Tony Cina, Chairman of the Board
South Cariboo District
The South Cariboo Gold District is a district-scale land package considered highly prospective for sediment-hosted orogenic gold systems, including the FG Gold and Gold Creek projects. Targeted exploration between 2020 and 2022 confirmed the orientation of high-grade gold mineralization at FG Gold and identified multiple structural gold corridors. The project remains underexplored along a 20+ km trend, providing opportunities to expand the footprint of gold mineralization and for new discoveries on-strike and down-dip.
Mineral Creek
Mineral Creek, located approximately 11 km southeast of Port Alberni on Vancouver Island, is considered highly prospective for high-grade epizonal orogenic vein gold systems and VMS systems. The Karus technical team plans to review historical exploration results, incorporating modern technologies to outline priority areas for follow-up exploration.
Related Projects
Forward-looking statements. This release contains forward-looking information within the meaning of applicable Canadian securities laws. Actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which speak only as of the date of the release.