Bocana Resources Corp. Provides a Corporate Update

/EIN News/ -- CALGARY, Alberta, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Bocana Resources Corp. (TSXV: BOCA) (Frankfurt: VC1) ("Bocana" or “Company”) announces it has received a letter of resignation from Mr. David Thompson from the Company’s Board of Directors, effective December 20, 2024. Bocana and the Board of Directors appreciate all of the time and efforts that Mr. Thompson provided to the Company and wish him well in his other duties.

The Board of Directors has unanimously approved the appointment of Mr. Saleem Sarwar to fill the vacancy until the next annual meeting of the Shareholders, in accordance with the constating documents of the Corporation and the Business Corporations Act (Alberta) (the "ABCA").

Mr. Sarwar has over 23 years’ experience in the commodities trading industry having started in 2001 working for Ransmile LLC, a Hong Kong based trading company. He spent time in Singapore, Beijing and Hainan Province, China working with Govt backed entities on selling refined oil products, where he was instrumental in structuring one of the largest upstream crude supply contracts between one of the Middle East major oil producers and Grupa Lotos SA, one of Poland’s major oil refinery operators and station forecourt operators.

In 2011, Mr. Sarwar was appointed Head of Trading at AMC in Dubai. The role involved leading a team of over 12 traders and support staff, trading refined oil products, metals, food stuffs with various cross global commodities companies and producers. Two years later, he was asked by the board of AMC, to develop several mining assets in East and Central Africa, specifically in Tanzania, Uganda and DRC. While there he oversaw mineral assaying, liaising with Govt bodies for mineral rights, mining operations, securing export permits and helping the company raise funds for the development of these assets.

In 2018 he joined Elite Capital in London, as head of trading, reviewing complex trading structures. Subsequently, he started a medical healthcare company in the United Kingdom aimed at providing alternative healthcare solutions to healthcare operators in the UK and Europe. Helped develop the first Medical Cannabis balm to be approved for sale under prescription for pain management, arthritis and fibromyalgia in Europe.

About Bocana Resources Corp.

Bocana is a mineral exploration and development company focused on the acquisition, exploration, and development of mineral producing properties. Bocana, through its wholly owned subsidiary, Huiracocha International Service SRL, currently holds a 100% working interest in the mineral properties known as the Escala area concessions located at the Department of Potosi, Sud Lipez Province, Bolivia as awarded by Comibol.

Contact Information

For more information on Bocana, visit: https://bocanaresources.com.

For more information or interview requests, please contact:

Timothy J. Turner – Chief Executive Officer info@bocanaresources.com

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: "intend", "believe", "estimate", "expect", "may", "will", "approximately", "planning", "projected", "anticipate" and similar references to future periods. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bocana, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but without limitation, statements pertaining to the AGM and any future corporate transactions or joint ventures. All statements included herein involve various risks and uncertainties because they relate to future events and circumstances beyond Bocana's control.

Although Bocana has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward- looking statements or information, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.