Tickers: XTSX:SCA
Tags: Mining
Toronto, Canada / TheNewswire / June 22, 2018 - Savary Gold Corp. (TSX-V: SCA) ("Savary" or the "Company") shareholders approved all matters put forth at the annual and special meeting of shareholders of Savary held on June 21, 2018.
Approval of Board of Directors
Messrs. Don Dudek, Daniel Nocente, Thomas Olesinski, Craig Pearman, and Paolo Lostritto have all been re-elected as directors of the board. Approximately 43.77% of the Company's common shares were represented at the meeting. Detailed results of the vote are set out below.
% Votes For | % Votes Withheld | |
Don Dudek | 99.92 | 0.08 |
Daniel Nocente | 99.9 | 0.10 |
Paolo Lostritto | 99.92 | 0.08 |
Thomas Olesinski | 99.9 | 0.10 |
Craig Pearman | 99.91 | 0.09 |
Re-Approval of Stock Option Plan
The Shareholders of Savary Gold have also re-approved the company's existing 10% rolling stock option plan.
Savary's board would like to express its gratitude to its shareholders for their support
Exploration Update
As of June 17, 2018, Savary has completed 114 reverse circulation and air core holes totalling 7,731 metres during the period starting on May 1, 2018. Drilling has focussed on the south western portion of the property where numerous mineralized trends and new gold-in-auger targets have been identified. Drilling will continue to the end of June, weather permitting, with continued testing of new targets and follow-up drilling along known gold-mineralized trends. Assay results will be presented once all of the results have been received and interpreted.
About Savary Gold Corp.
Savary is a Canadian exploration company focused on exploring and developing the Karankasso Gold Project in Burkina Faso. The Company holds an approximate 73% joint venture ownership and is the operator of the project with Sarama Resources Limited. The Project is located within the Hounde Greenstone Belt, which hosts Semafo's Mana mine, Roxgold's Yaramoko Mine and Endeavor's Hounde Mine. The Project contains an Inferred mineral resource estimate of 12.3 million tonnes (Mt) grading 2.03 g/t gold for 805,000 ounces. For additional information please visit our website at www.savarygold.com.
Qualified Person
Don Dudek, P.Geo., President and CEO of the Company and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
SAVARY GOLD CORP.
On behalf of the Board
"Don Dudek"
President & Chief Executive Officer
For more information, please contact:
Don Dudek, President and CEO
T: 647-259-2097
E: info@savarygold.com; www.savarygold.com
Cautionary Notes
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.
This news release may contain forward-looking statements. These statements include statements regarding the receipt of required regulatory approvals, details of the potential value growth of the JV, the upside of the property, and our expectations with respect to lower costs, cross marketing and funding synergies resulting from the JV, the drill program, the company's exploration plans, the focus on existing drill targets and new targets. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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