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2026-11-06

← EVN management

Full background report

Glen Masterman

Vice President Discovery

Career chronology

  • Dates not fully established: Evolution Mining — Vice President Discovery. 2026 Annual Report (2026 annual report, leadership biography)

  • Dates not fully established: Beadell Resources — Executive Director Geology and Corporate Development. 2026 Annual Report (2026 annual report, leadership biography)

  • Dates not fully established: Kinross Gold — Senior Vice President Exploration and Chief Geoscientist. 2026 Annual Report (2026 annual report, leadership biography)

  • Dates not fully established: Bolnisi Gold — General Manager Exploration. 2026 Annual Report (2026 annual report, leadership biography)

Education and qualifications

Qualifications disclosed

Qualifications reported in cited sources · issuer reported · low materiality

A 2010 Kinross presentation reports a Melbourne BSc (Honours) and University of Tasmania PhD; degree records were not independently checked.

Attribution: Responsibility not applicable. Education is reported by cited issuers or the person; records were not independently confirmed.

Relevance: Evidence of relevant training, subject to verification.

Kinross and Red Back combination presentation (Biography and qualifications)

Personal achievements

Palmarejo discovery role

Before joining Kinross in 2007 · issuer reported · medium materiality

Evolution reports that Masterman was lead geologist in discovery and development of the Palmarejo silver-gold deposit at Bolnisi. The 2010 Kinross presentation separately confirms the Bolnisi exploration role and company discovery, although the precise individual contribution is described by Evolution.

Attribution: Individual involvement documented. Evolution credits him with the lead-geologist role; no independent project-level attribution was obtained.

Relevance: Relevant exploration and discovery leadership.

2026 Annual Report (Leadership biographies, printed p.15); Kinross and Red Back combination presentation (Executive biographies, Masterman)

Litigation and enforcement

Kinross Tasiast securities actions settled without admissions

Alleged disclosures 2010–2012; settlements 2015 · disputed · high materiality

Kinross filings name Masterman, then exploration senior vice president, among defendants in US and Ontario securities class actions alleging misleading statements about the Tasiast operation. Kinross reports that the US action settled for US$33 million, finally approved 15 October 2015; the Ontario action settled for C$12.5 million, approved June 2015. Both were without admissions of liability and funded by insurance; defendants denied wrongdoing.

Attribution: Individual involvement documented. He was named in the proceedings. Settlements and denials are not a finding of personal wrongdoing; individual liability was not adjudicated.

Relevance: Material historical litigation in a technical disclosure context.

2014 annual information form, legal proceedings (Legal proceedings, US and Ontario allegations); 2015 management discussion and analysis, legal proceedings (Other legal matters: names, 2015 final US and Ontario approvals and no liability admission); Court-authorized notice of proposed Kinross settlement (pp.1–3, parties and defendants’ denial and no merits determination); Kinross and Red Back combination presentation (2010 presentation, Tasiast geology and Dr Glen Masterman executive biography)

Suitability for the current role

Relevant experience

Career through 31 October 2026 · analyst inference · low materiality

Analyst inference: VP Discovery; previously executive director geology and corporate development at Beadell, senior exploration leader at Kinross, and Bolnisi exploration general manager, with issuer-reported Palmarejo discovery leadership.

Attribution: Responsibility not applicable. Experience is based on dated issuer material; role fit is an analytical judgment, not proof of individual contribution.

Relevance: Relevant to execution of the current role.

2026 Annual Report (2026 annual report, leadership biographies, printed pp.14–16)

Evidence gaps

  • Independent verification of stated qualifications, licences and memberships was not obtained.

  • Prior-employer histories, local court and regulator records and individual contributions to company outcomes remain incomplete; this is not a clearance.

  • Original complete court and settlement documents beyond the opened notices and issuer filings were not obtained.