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Moneta Welcomes Sheila Colman to its Board of Directors

Press Release

December, 14, 2022

Toronto, Ontario–(Newsfile Corp. – December 14, 2022) – Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) (“Moneta” or the “Company”) is pleased to announce it has appointed Ms. Sheila Colman to its Board of Directors (“Board”), effective December 7, 2022.

“I am delighted to welcome Sheila to our Board. We are confident that she will provide valuable perspectives as we continue to execute on our strategy and deliver value to our stakeholders,” stated Josef Vejvoda, Moneta’s Chair of the Board. “Sheila brings decades of experience in the mining industry, in addition to valuable knowledge regarding legal, governance and strategic oversight. We look forward to welcoming her as an integral member of our Board to support the business as it continues to grow and enhance its commitment to governance and Environmental, Social, and Governance (“ESG”) themes.”

The appointment follows other recent additions to the Board, highlighting the Company’s commitment to advancing its 100% wholly owned Tower Gold project, located in the Timmins region of Northeastern Ontario. Moneta’s Board is now comprised of nine members, of which eight members are considered independent: Mark Ashcroft, Sheila Colman, Rodney Cooper, Louis Gariepy, Alex Henry, Krista Muhr, Josef Vejvoda (Chair of the Board), and Blair Zaritsky, with Jose Vizquerra continuing to act as a special advisor to the Board.

About Sheila Colman

Sheila currently serves as Vice President, Legal and Corporate Secretary of Lundin Gold Inc., working closely with the Directors and the CEO to provide oversight of the governance, legal and compliance risks of the business. Sheila has been working with the Lundin Group of Companies since 2006 and now, in addition to legal and governance, she co-leads on key ESG matters including climate strategy and Equity, Diversity, and Inclusion/Inclusivity (“EDI”) programs and initiatives. Prior to Lundin Gold, she served as Vice President and Corporate Secretary of Denison Mines Corp.

Sheila graduated from Queen’s University with a B.A.(H) and then received her LL.B. from Queen’s University. She is a member of both the British Columbia and Ontario Bars and has a Global Competent Boards designation (GCB.D) from Competent Boards.

About Moneta Gold
Moneta is a Canadian-based gold exploration company focused on advancing its 100% wholly owned Tower Gold project, located in the Timmins region of Northeastern Ontario, Canada’s most prolific gold producing camp. The September 2022, Preliminary Economic Assessment study outlined a combined open pit and underground mining and a 7.0 million tonne per annum conventional leach/CIL operation over a 24-year mine life, with 4.6 Moz of recovered gold, generating an after-tax NPV5% of $1,066M, IRR of 31.7%, and a 2.6-year payback at a gold price US$1,600/oz. Tower Gold hosts an estimated gold mineral resource of 4.5 Moz indicated and 8.3 Moz inferred. Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on the current resource upgrade drilling program, while conducting all business activities in an environmentally and socially responsible manner.

Gary V. O’Connor, CEO

Linda Armstrong, Investor Relations

The Company’s public documents may be accessed at For further information on the Company, please visit our website at or email us at [email protected].


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