TORONTO, ON--(Marketwired - June 08, 2017) - Marathon Gold Corporation ("Marathon" or the "Company") (TSX: MOZ) announced today the results of voting at the annual meeting of shareholders held on June 7, 2017 in Toronto, Ontario.
All of the director nominees set out in the management information circular dated April 28, 2017 were elected as directors, to serve a one year term. In addition, PricewaterhouseCoopers LLP was re-appointed as the Company's auditor for the fiscal year ending December 31, 2017; all unallocated stock options under the Company's Stock Option Plan were approved for a period of three years, as required by the Toronto Stock Exchange; and the Company's Amended and Restated Shareholder Rights Plan was reconfirmed, ratified and approved for a period of three years.
Details of the voting are as follows:
| |
| Proposal #1 - Election of Directors |
| | | Votes For | | Percentage
of Votes For | | Votes
Withheld |
| George D. Faught | | 52,094,871 | | 98.31% | | 898,200 |
| Phillip C. Walford | | 52,988,191 | | 99.99% | | 4,880 |
| Julian B. Kemp | | 52,704,691 | | 99.46% | | 288,380 |
| Joseph G. Spiteri | | 52,988,191 | | 99.99% | | 4,880 |
| Douglas H. Bache | | 52,706,691 | | 99.46% | | 286,380 |
| | | | | | | |
| Proposal #2 - Reappointment of Auditor | | | | | | |
| | | Votes For | | Percentage
of Votes For | | Votes
Withheld |
| PricewaterhouseCoopers LLP | | 60,044,444 | | 99.50% | | 301,957 |
| | | | | | | |
| Proposal #3 - Unallocated Stock Options | | | | | | |
| | | Votes For | | Percentage
of Votes For | | Votes
Against |
Approval of all Unallocated
Stock Options under Stock
Option Plan and Certain
Amendments to the Stock
Option Plan | | 43,725,521 | | 82.51% | | 9,267,550 |
| | | | | | | |
| Proposal #4 - Amended and Restated Shareholder Rights Plan | | | | |
| | | Votes For | | Percentage
of Votes For | | Votes
Against |
Approval of Amended and
Restated Shareholder Rights
Plan | | 52,949,451 | | 99.92% | | 43,620 |
| | | | | | | |
The Company's shareholders voted in favour of all matters brought before the meeting. The results of voting will be filed at www.sedar.com.
About Marathon
Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Property located in Newfoundland, one of the top mining jurisdictions in the world. The Valentine Lake Gold Property currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 1,388,200 oz. of gold at 1.91 g/t and inferred resources totaling 766,500 oz. of gold at 2.24 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits outlined to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had little detailed exploration activity to date. Drilling in 2017 is continuing to focus on expanding the Marathon Deposit at surface and to depth.
The Valentine Lake Gold Property is accessible by year-round roads and is located in close proximity to Newfoundland's electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.
To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation's public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.