VRR.V Loading
Frankfurt: 5VR OTC: VRRCF

Corporate

VR Introduction

VR Resources Ltd. (“VR”) is a newly listed junior mineral exploration company on the Venture Exchange (March, 2017; TSXV: vrr.v). VR is registered in British Columbia, Canada, and operates out of a head office in Vancouver. The Company is well financed, with a working capital of just under C$ 4M as it moves into the 2018 exploration season.

VR is the continuance of 4 years of active mineral exploration in Nevada, USA, by a Vancouver-based private company founded and run by two geologists with diverse experience in global mineral exploration, and a proven track record in the junior sector, having steered the sale of three companies in the past seven years for an aggregate valuation in excess of C$1.3B. The goal of VR is explicit: leverage its experience and expertise in grassroots exploration towards early-stage discovery in order to capture the steepest part of the value creation curve in mining for its shareholders.

The focus of VR is copper exploration in Nevada. The Company is focused on districts underexplored during the past 50 years of modern exploration. The Company applies current mineral deposit models and new exploration technologies to properties with large copper-gold footprints. Mineral exploration assets are owned 100%, and held in a wholly-owned, Nevada-registered subsidiary.

An independent, NI 43-101 Technical Report on the alkaline porphyry copper-gold system at the Bonita property located in Humboldt County in northwestern Nevada was the foundation for the public transition of VR in 2017. First pass drilling of an array of targets recommended in the report based on three years of integrated exploration data is underway. The potential upside to the Company of a drill-based discovery at Bonita is leveraged by multiple factors, including:

  • Tight share structure of the new listing, including insider position of approximately 20%;
  • 100% ownership of the asset; no joint venture interests, no carried interests, no royalties;
  • Good infrastructure (roads; power; railroads) for cost-effective exploration and permissive of profitable mining should development of a discovery occur;
  • A long history of regulatory support for the mining industry in the state;
  • Major copper and gold mining companies are active in Nevada.

VR reviews new opportunities in copper and gold mineral exploration in the western United States on an ongoing basis. VR will bolster its portfolio by the acquisition or staking of any property that is aligned with its exploration strategy, presents synergies with the Company’s existing work, and has the opportunity to raise the value of the Company for its shareholders.

There is a long history of copper exploration and mining in the western United States. It is an important district for overall copper resource endowment based on extensive exploration and development mid-Century (1940’s through 1970’s), during the birth of modern porphyry copper exploration. The United States is an important supplier to global copper production, and many of the world’s largest copper companies are active in the western United States.

Directors

Michael Gunning, President and CEO, Director

Dr. Gunning is a Professional Geologist with over 30 years of experience in mineral exploration and geological research. His experience spans work in federal and provincial geological surveys, exploration in North and South America with Cominco (now Teck), and proven executive leadership in the junior exploration sector, including recent success in the sale of two companies. He is extensively published, holds several industry awards, and is past-president of numerous industry organizations.

Upon completion of his PhD at the University of Western Ontario, Dr. Gunning spent nearly a decade both learning and leading mineral exploration with Cominco, before moving on to a lead Mineral Deposits Research Geologist position with the Saskatchewan Geological Survey, which included work in Strategic Development in the energy sector. This work led to Dr. Gunning to the uranium junior exploration sector in Vancouver, culminating in his role as CEO of Hathor Exploration Limited, where he led successive resource and PEA milestones for the Roughrider uranium deposit discovery, and guided Hathor successfully through a hostile takeover bid and eventual $654 million acquisition by Rio Tinto, one of the top ten deals in mining globally in 2011. He built on that success as Executive Chairman of Alpha Minerals, which was acquired in 2013 for C$190 million, following the discovery of the Patterson Lake uranium deposit in Saskatchewan.

Dr. Gunning is now focused on VR Resources. He does not hold any Advisory positions, and is currently on the Board of just one other company, Aurelias Minerals Inc. (TSX-V).

Dr. Gunning is a past-President of the Saskatchewan Geological Society and the Society of Economic Geology Student Chapter, and he served on the AME BC Roundup Committee and continues to present at the annual AME Exploration Safety Workshop. Having played field hockey at the club, university, national and international level, he is currently a Director of Field Hockey Canada, and Chair of the Canadian Men’s Field Hockey Olympic Trust, and he holds several provincial awards recognizing service to sport.

Darin Wagner, Chairman

Mr. Wagner is a Professional Geologist with over 25 years of exploration and corporate development experience. Mr. Wagner spent the first 10 years of his career as a project geologist and manager in North and South America with two of Canada’s largest and most successful exploration and mining companies: Noranda (now Xstrata) and Cominco (now Teck).

In 1999 Mr. Wagner became Vice President, Exploration for New Millennium Metals Corp. which was successfully merged with Platinum Group Metals Ltd. in 2002. Mr. Wagner served as Exploration Manager for TSX-listed Platinum Group Metals through the acquisition, discovery and initial delineation of the multi million ounce Western Bushveld PGE deposit in South Africa.

Mr. Wagner became President of Sydney Resource Corp. in September 2005 and helped steer the successful merger with Band Ore Resources to form West Timmins Mining Inc. in 2006. He then served as a President, CEO, Director and Qualified Person for West Timmins Mining through the discovery of the high grade Thunder Creek Gold Zone in Timmins, Ontario and the acquisition of West Timmins by Lake Shore Gold in an all share deal valued at $424 million which was completed in November of 2009.

Mr. Wagner is President, CEO and founder of Balmoral Resources Ltd. (TSX) who have been twice recognized as Explorers of the Year in Quebec for the Martiniere Gold and Grasset Nickel discoveries. Mr. Wagner also serves on the Board of Directors of Palamina Corp (TSX-V), was a co-founder Falco Resources (TSX-V), and is a founding director of NewCastle Gold (TSX-V).

Michael Thomson, Director

Mr. Thomson has over 30 years of experience in the securities industry as a lawyer, regulator, investment banker, Vice President with two securities dealers, and an entrepreneur. Mr. Thomson has been the President and principal of Independent Capital Partners Inc., a corporate finance consulting and advisory company since May 1998. He is also a past independent director of the Lil’Wat Business Corporations, the business arm of the Mt. Currie (Pemberton) First Nations Band.

Mr. Thomson has been the founder or co-founder of a number of capital pool companies that have completed arm’s length business combinations and Qualifying Transactions with various private companies, including a number of companies in the resource sector.

Mr. Thomson is currently a director of Roll-Up Capital Corp. (TSXV), Solegear Bioplastic Technologies Inc. (TSXV), Century Energy Ltd. (TSXV) and Metropolitan Energy Corp. (NEX). Mr. Thomson founded Metropolitan in 2007, negotiated and managed its initial public offering in 2008, is a past President, and has been a director since incorporation. Mr. Thomson is also the President, Chief Executive Officer, Chief Financial Officer and a director of Soleil Capital Corp., a capital pool company that closed its initial public offering on January 26, 2017.

Mr. Thomson obtained a Bachelor of Law degree from the University of Ottawa in 1983.

Craig Lindsay, Director

Mr. Lindsay has over 20 years of experience in corporate finance, investment banking and business development in both North America and Asia. His recent focus has been on mineral resources in the western United States. He is currently President and CEO of Otis Gold Corp. (TSX V), a junior exploration company advancing the Kilgore Gold Project in Idaho.

Previously, Mr. Lindsay was President and CEO of Magnum Uranium Corp. until its merger with Energy Fuels Inc. in July 2009. Prior to that he was a Vice President in the Corporate Finance and Investment Banking Group at PricewaterhouseCoopers LLP. Mr. Lindsay was a founding Director of Malaspina Capital Ltd., a junior capital pool company, and was responsible for identifying its merger with Miranda Mining Corp (a Mexican based gold producer that was subsequently acquired by Wheaton River Minerals). He is currently a Director of Alianza Minerals Ltd. (TSX V) and Philippine Metals Inc. (TSX V).

Management

Blaine Bailey, Chief Financial Officer

Mr. Bailey is a Chartered Professional Accountant and Certified General Accountant working with public and private companies over the past 20 years. Mr. Bailey brings complementary skills to the team in areas of finance, administration, and financial reporting. Mr. Bailey is currently the CFO of Cardero Resource Corp., Centenera Mining Corporation and CFO and Director of Arrowstar Resources Ltd. (TSX-V).

Mr. Bailey received his Bachelor of Commerce degree (Honours) from the University of Manitoba in 1977, and qualified for the CPA, CGA designation in British Columbia in 1983. Mr. Bailey has served in the capacity of accountant for Molson Brewery B.C. Ltd. and controller for Nabob Coffee Co. with head offices in Zurich, Switzerland.

Cyndi Laval, Corporate Secretary

Ms. Laval is a partner at the law firm of Gowling WLG (Canada) LLP, Vancouver, B.C. and is the leader of the firm’s Corporate Finance, M&A and Private Equity Group in Canada.

Ms. Laval practices M&A, Corporate Finance and Mining Law, and has over 20 years of experience. Her practice involves advising issuers on merger transactions, corporate finance activities, such as equity and debt financings, stock exchange listings, corporate and securities regulatory compliance, corporate reorganizations, corporate governance, and mining-related transactions.

Ms. Laval was named Vancouver “Lawyer of the Year” for Mining by the Best Lawyers in Canada in its 2017 edition. She has also been named one of Vancouver’s 30 leading lawyers by the National Post and is recognized as a leading lawyer in The Best Lawyers in Canada, Legal 500 Canada, Lexpert’s Leading Canadian Lawyers in Global Mining, Canadian Legal Lexpert Directory, Who’s Who Legal: Canada and Who’s Who Legal: 100.

Prior to joining private practice, Ms. Laval worked in the policy department of the now TSX-V. Ms. Laval was a member of the TSX-V’s Local Advisory Committee from 2006 to 2013 and an instructor of the TSX-V Rules and Tools Corporate Governance Workshop from 2004 to 2010.

Frances Petryshen, Corporate Compliance

Ms. Petryshen brings over 25 years of management experience with a specialization in corporate compliance and governance for public, private and not-for-profit organizations. She has been a Director and Officer of several public and private companies. Ms. Petryshen is an Accredited Director (“Acc.Dir.”) and a Fellow with the Institute of Chartered Secretaries and Administrators (“FCIS”) where she currently serves as Director of the British Columbia branch of the Institute.

Financials

2017

MD&A
Mar 31, 2017 Annual annual_mda_2017.pdf
Financial Statement
Mar 31, 2017 Annual annual_fs_2017.pdf

2018

MD&A
Mar 31, 2018 Annual annual_mda_2018.pdf
Jun 30, 2017 Q1 q1_mda_2018.pdf
Sep 30, 2017 Q2 q2_mda_2018.pdf
Dec 31, 2017 Q3 q3_mda_2018.pdf
Financial Statement
Mar 31, 2018 Annual annual_fs_2018.pdf
Jun 30, 2017 Q1 q1_fs_2018.pdf
Sep 30, 2017 Q2 q2_fs_2018.pdf
Dec 31, 2017 Q3 q3_fs_2018.pdf

2019

Financial Statement
Jun 30, 2018 Annual annual_fs_2019.pdf
MD&A
Jun 30, 2018 Annual annual_mda_2019.pdf