TORONTO, May 23, 2012 /CNW/ - Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP)
("Moneta" or the "Company") is pleased to announce the results from its annual general meeting held
on May 22, 2012.
Over 80 million shares were voted in support, approving the standard
resolutions for the election of directors and the appointment of
financial auditors, as well as the special resolution to approve the
Shareholder Rights Plan (the "Plan") between Moneta and Computershare
Investor Services dated as of January 24, 2012.
Ian C. Peres, President and CEO of Moneta commented, "This level of
voting participation is particularly impressive and highly unusual. We
would like to thank shareholders for their overwhelming voting support
and ongoing confidence as we continue to advance our corporate
objectives including the advancement of our significant Golden Highway
Project."
The Plan was adopted by the Board of Directors (January 24, 2012 press
release) following the announcement of a major NI 43-101 Mineral
Resource Estimate on Moneta's Golden Highway Project (December 1, 2011
press release). The Plan in no way prohibits a change of control of the
Company in a transaction that is procedurally fair to its shareholders.
Management is not aware of any proposed or pending unsolicited
take-over bid for the Company.
About Moneta
Moneta holds a 100% interest in 5 core gold projects strategically
located along the Destor Porcupine Fault Zone in the world class
Timmins Camp with excellent infrastructure including access roads,
water, electricity, and mills. The land position is one of the largest
- after three gold producers - including the highly prospective Golden
Highway Project which covers 12 kilometers of a volcanic/sedimentary
belt along the Destor Porcupine Fault Zone and hosts a NI 43-101
indicated resource of 1.07 million ounces gold (33.5 Mt at 1.00 g/t) plus a NI 43-101 inferred resource of 2.07 million ounces gold (47.8 Mt at
1.35 g/t) clustered within 4 kilometres.
Moneta's public documents may be accessed at www.sedar.com. For further information on Moneta, please visit our website at www.monetaporcupine.com or email us at info@monetaporcupine.com.
<p> Ian C. Peres, President & CEO<br/> 416-579-3040 (Toronto)<br/> 705-264-2296 (Timmins)<br/> <a href="mailto:iperes@monetaporcupine.com">iperes@monetaporcupine.com</a> </p>