Stroud Resources Comments on the OSC Allegations involving its Director, William Jeffrey Kennedy

TORONTO, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Stroud Resources Ltd. (TSXV:SDR) ("Stroud" or the "Company") has the following comments about recent OSC Allegations involving its director, William Jeffrey Kennedy.

On November 09, 2022, the Ontario Securities Commission ("OSC") issued a Statement of Allegations involving William Jeffrey Kennedy, along with other market participants, regarding a capital market transaction that occurred in March 2017. Mr. Kennedy joined the Board of Stroud in January 2021. The full text of the allegation can be found on the Capital Markets Tribunal website at https://www.capitalmarketstribunal.ca/en/proceedings/cormark-securities-inc-re.

Each of the respondents have stated intentions to vigorously defend their innocence and look forward to the presentation of their defence against the allegations.

Stroud is not a respondent and the Company does not expect to be participating in the proceeding. Stroud will be paying close attention to the proceedings but will not be making any changes to its Board at this time.

About Stroud Resources Ltd.
Stroud Resources is a TSXV listed company (TSXV:SDR) focused on the exploration and development of its Santo Domingo epithermal silver project in central Mexico.

For more information, please visit www.stroudsilver.com or contact Mirsad Jakubovic, Chief Financial Officer, Stroud Resources Ltd., Tel: 1-416-888-8731, [email protected].

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY  FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements".

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of the drill results, geology, grade and continuity of mineral deposits.

Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.