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    PNGC   CA69356K1003

PNG COPPER INC.

(PNGC)
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PNG Copper Inc. Announces the Appointment of Dr. David Lindley as Interim CEO, Review of Drilling Program

09/28/2021 | 08:35am EST

Timmins, Ontario--(Newsfile Corp. - September 28, 2021) - PNG Copper Inc. (CSE: PNGC) ("PNG Copper" or the "Company") is pleased to announce the appointment of Dr. David Lindley as acting Chief Executive Officer of the Company, effective immediately.

The Company's existing drill program has been put on hold and Dr. Lindley will be travelling to Papua New Guinea to complete a review and assessment of the site and equipment and will then prepare recommendations to the Company for a comprehensive plan to restart and execute drilling. The review and recommendation process is to be principally financed by one of the Company's current directors, Stephen Grey.

The Company would like to acknowledge the contribution of Iain Martin in the founding and initial development of the Company. Mr. Martin has resigned as a director and as interim-Chief Executive Officer of the Company. Steven Balch, also a director of the Company, has advised the Company that effective as of the close of business today, September 28, 2021, he is resigning from the Company's board of directors. The Company thanks Steve for his contribution.

About PNG Copper Inc.

PNG Copper Inc. is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea. The Company's core values are respect for the Community, the Landowners, the environment and operating a safe workplace for its employees. The Company is also committed to best practice standards of Corporate Governance.

For further information please visit the Company's website at pngcopper.ca or contact:

PNG Copper Inc.
Paul Rokeby, Chief Financial Officer
Tel: +1.705.465.1880

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Statements

This Press Release contains forward-looking statements, within the meaning of applicable securities laws, that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. Such statements reflect the Company's present views, future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. 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. Many risks, uncertainties, and other factors involved with forward-looking information could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97860


ę Newsfilecorp 2021
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Financials
Sales 2020 - - -
Net income 2020 -2,86 M -2,29 M -2,29 M
Net cash 2020 1,44 M 1,15 M 1,15 M
P/E ratio 2020 -4,13x
Yield 2020 -
Capitalization 8,37 M 6,69 M 6,69 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float -
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Managers and Directors
Ian David Lindley Chief Executive Officer
Alan Martin President & Executive Director
Paul Rokeby Chief Financial Officer & Treasurer
Christopher Cornelius Director
Iain Martin Secretary
Sector and Competitors