RENO, Nev. -- (Business Wire)
Wolfpack Gold Corp. (TSX-V: WFP)(“Wolfpack” or the “Company”) announces
that at a Special Meeting held on August 5th, 2014, a total
of 30,224,939 voting shares were cast at the meeting, representing 52.8%
of the issued and outstanding common shares of the Company. With 99.97%
of the vote in favor, shareholders have overwhelmingly supported the
transaction whereby the Company’s non-uranium assets will be acquired by
Timberline Resources Corporation (NYSE MKT: TLR; TSX-V: TBR) (“Timberline”)
in exchange for Timberline shares as originally announced March 13,
2014. Current shareholders of Wolfpack will continue to hold their
shares in the surviving company which will be renamed enCore Energy
Corp. and shareholders will also receive 0.75 share of Timberline for
each share of Wolfpack that they own. The Company’s considerable uranium
assets will be the focus of enCore Energy which will continue to trade
on the TSX Ventures exchange. The transaction is expected to close
within the next ten days.
The Company also announces that with 99.5% in favor, the following
Directors were elected:
William M. Sheriff
Dennis Stover
William B. Harris
Nathan
A. Tewalt
Rudi Fronk
William Threlkeld
About Timberline Resources
Timberline Resources Corporation is exploring and developing
advanced-stage gold properties in the western United States. Timberline
holds a 50-percent carried interest ownership stake in the Butte
Highlands Joint Venture in Montana. Timberline's exploration is
primarily focused on the major gold districts of Nevada, where it is
advancing its flagship Lookout Mountain Project toward a production
decision while exploring a pipeline of quality earlier-stage projects at
its South Eureka Property and elsewhere. Timberline’s leadership has a
proven track record of discovering economic mineral deposits that are
developed into profitable mines. Timberline is listed on the NYSE MKT
where it trades under the symbol "TLR" and on the TSX Venture Exchange
where it trades under the symbol "TBR".
About Wolfpack Gold Corp.
Wolfpack Gold's mandate is to advance low cost heap leach and high grade
underground gold projects towards production in the western United
States. The advanced Castle-Black Rock project has a previous operating
history as an open pit heap leach operation before closing due to low
gold prices in the 1980’s. In addition, the Company has a 100% interest,
with no holding costs, on 115,000+ acres (46,400 ha) of private mineral
rights in New Mexico, including the Crownpoint and Hosta Butte uranium
deposits. These deposits contain an indicated resource of 26.6 MM pounds
U3O8 at an average grade of 0.105% eU3O8
and an inferred resource of 6.1 MM pounds U3O8 at
an average grade of 0.110 eU3O8(1). A
portion of these resources are under NRC license.
For additional information:
Wolfpack Gold Corp.
William M. Sheriff, Chairman
info@wolfpackgold.com
www.wolfpackgold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
(1) Technical Report, titled, “Crownpoint and Hosta Butte
Uranium Project Mineral Resource Technical Report, McKinley County, New
Mexico, USA, Mineral Resource Technical Report - National Instrument
43-101,” dated May 14, 2012, and authored by Douglas L. Beahm, PEng,
PGeo.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this news release may involve
forward-looking statements under applicable securities laws.
Forward-looking statements are statements that relate to future, not
past, events. In this context, forward-looking statements often address
expected future business and financial performance, and often contain
words such as "anticipate", "believe", "plan", "estimate", "expect", and
"intend", statements that an action or event "may", "might", "could",
"should", or "will" be taken or occur, or other similar expressions. All
statements, other than statements of historical fact, included herein
including, without limitation; statements about the terms and completion
of the business combination, bridge loan and related transactions are
forward-looking statements. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements, or other
future events, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the following risks:
failure to successfully negotiate a definitive agreement satisfactory to
both parties; failure to successfully complete the parties’ respective
due diligence review; and failure to satisfy all conditions precedent to
the definitive business combination agreement, including any required
shareholder approval and approval of the TSX Venture Exchange; failure
to realize the anticipated benefits of the proposed transaction; and the
additional risks identified in the management discussion and analysis
section of Wolfpack Gold Corp.’s and Timberline Resources Corporation’s
interim and most recent annual financial statement or other reports and
filings with the TSX Venture Exchange and applicable Canadian securities
regulators. Forward-looking statements are made based on management's
beliefs, estimates and opinions on the date that statements are made and
the respective companies undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change, except as required by applicable
securities laws. Investors are cautioned against attributing undue
certainty to forward-looking statements.
Contacts:
Wolfpack Gold Corp.
William M. Sheriff, 1-208-635-5415
Chairman
info@wolfpackgold.com
Source: Wolfpack Gold Corp.
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