Movie producer Lee Caplin joins NovaRed Mining after Noem

NovaRed Mining (CSE: NRED; US-OTC: NREDF) has appointed to its advisory board Lee Evan Caplin, the executive producer of the Oscar-nominated movie Ali and an entrepreneur behind Rolling Stone owner Penske Media. It’s the latest high-profile addition after the company’s recent controversy.

Caplin joins advisors such as former U.S. Homeland Security secretary Kristi Noem and that department’s brief former spokeswoman Katie Zacharia, appointments that raised eyebrows after retired U.S. Navy commander Phil Ehr resigned from the board in protest over Noem’s hiring.

“Lee’s leadership in technology commercialization, intellectual property, media, and higher education makes him an exceptional addition to our team,” CEO Brian Goss said in a release on Tuesday. “His track record of building innovative enterprises and championing emerging technologies aligns directly with our vision for MetalCore AI and our strategy to incorporate AI in the exploration for critical minerals.”

The appointment expands NovaRed’s push beyond mineral exploration as it seeks to commercialize MetalCore AI, a platform that uses artificial intelligence, machine learning, computer vision and predictive analytics to analyze geological data and identify exploration targets while advancing the Wilmac copper-gold project and Lamont Ridge property in southern British Columbia.

Hollywood producer

Caplin is founder and chairman of Picture Entertainment. He helped establish the predecessor to Penske Media, whose publications include Rolling Stone and Variety.

He also executive produced the 2001 film Ali starring Will Smith and has produced HBO’s True Detective. The company said he will advise NovaRed on technology commercialization, intellectual property strategy and strategic partnerships.

Shares in NovaRed Mining gained 3.5% to close on Tuesday at C60¢ apiece in Toronto, valuing the company at C$23.4 million ($16.6 million). The stock has fallen from around C$2 when Noem was appointed last month.

MetalCore AI

NovaRed has spent recent months promoting MetalCore AI as a second pillar of its business, saying the platform’s geological database has grown to more than 4.1 million records as it pursues technology partnerships and AI-related acquisitions.

The latest appointment follows a turbulent few weeks for the company. Earlier this month, Ehr resigned from NovaRed’s advisory board, saying he could not continue serving alongside Noem, whose appointment sparked criticism from some Canadian political figures.

At the time, Goss told The Northern Miner the company respected Ehr’s decision and was building a business serving North America’s critical minerals supply chain.

“We welcome a diversity of perspectives, but we also recognize that accomplished leaders can hold different views while contributing meaningfully to our mission,” Goss said.