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.
About Karus Mining
Karus is the 100% owner of the ~995 km² South Cariboo Gold District, which includes the drill-stage FG Gold and Gold Creek projects in British Columbia, and also controls the Mineral Creek gold exploration project, centred approximately 10 kilometres from Port Alberni on Vancouver Island. Karus is the result of the merger of Karus and Theia Gold Corp — Theia having been founded by a number of mining and finance professionals, and Karus having been originally financed by Yamana Gold, whose former executives founded Theia and were instrumental in the merger.
For more information, contact Investor Relations at info@karusmining.ca.
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.