First Canadian Graphite Inc. has appointed mining industry veteran Michael Iverson to its board of directors, bringing decades of experience in resource sector leadership and capital markets to the junior mining company focused on Quebec graphite projects. The appointment comes as the company seeks to advance its flagship Berkwood Graphite Project in northern Quebec to meet increasing demand for domestically sourced critical minerals.
Iverson brings more than two decades of mining executive experience, having founded Niogold Mining Corp. and co-founded Fortuna Silver Mines Inc., where he served in senior roles including Chairman, CEO, and President through 2016. His track record includes leading Niogold's acquisition and exploration of significant land in Val-d'Or, Québec, which positioned the company for its acquisition by Oban Mining Corp. at a substantial premium. At Fortuna, he contributed to the company's evolution into an established silver producer with operations in Peru and Mexico.
Throughout his career, Iverson has raised, invested, and co-invested more than $100 million in companies he has led and advised, with companies under his leadership achieving aggregate market capitalizations exceeding $1 billion. His expertise spans public and private equity markets, strategic planning, corporate governance, and sales and marketing.
"He brings extensive experience and a proven track record of building successful resource companies, particularly in Québec, as well as driving shareholder value," said John LaGourgue, CEO of First Canadian Graphite. Iverson will work closely with management to implement best practices as the company expands resources at the Berkwood Graphite Project and moves toward becoming a leading graphite producer in North America.
The appointment occurs alongside the resignation of director Brijender (Binny) Jassal, who will continue as Chief Financial Officer after serving on the board since 2017. The company acknowledged Jassal's contributions during his tenure as director.
Iverson noted the timing of his appointment aligns with increasing global demand for graphite as a critical material for energy storage and advanced technologies. "The Company is well positioned to expand the current resource through drilling and exploration, execute on a PEA and make the required steps towards production," he stated.
First Canadian Graphite's Berkwood Project holds a 43-101 Resource Estimate Report revealing 3.2 million tonnes of indicated and inferred graphite averaging 17% grades. The company acknowledges the project is located within the traditional territory of the Pessamit Innu First Nation and commits to fostering respectful relationships with Indigenous communities throughout development.
The company's forward-looking statements, available in its Management Discussion and Analysis under its SEDAR profile at https://www.sedar.com, outline plans for drilling programs and exploration expenditures while noting risks including permit approvals, economic viability, and funding availability. This strategic board appointment positions First Canadian Graphite to navigate these challenges while capitalizing on the critical minerals market opportunity.
