TORONTO, June 25, 2014 /CNW/ - Marathon Gold
Corporation ("Marathon" or the "Company") (MOZ:
TSX) announced today the results of voting at the annual
meeting of shareholders held on June 24,
2014 in Toronto,
Ontario.
All of the director nominees set out in the management
information circular dated May 15,
2014 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, 2014; 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 Shareholder Rights Plan was reconfirmed, ratified
and approved for a period of three years.
Details of the voting are as follows:
Proposal
#1
|
|
|
|
|
|
Votes
For
|
Percentage of Votes For
|
Votes
Withheld
|
|
George D.
Faught
|
26,914,380
|
99.63%
|
99,050
|
|
Phillip C.
Walford
|
26,919,380
|
99.63%
|
94,050
|
|
Julian B.
Kemp
|
26,913,740
|
99.63%
|
99,690
|
|
Joseph G.
Spiteri
|
26,915,380
|
99.64%
|
98,050
|
|
Douglas H.
Bache
|
26,907,740
|
99.61%
|
105,690
|
|
|
|
|
|
|
Proposal
#2
|
|
|
|
|
|
Votes
For
|
Percentage of Votes For
|
Votes
Withheld
|
|
PricewaterhouseCoopers
LLP
|
28,025,089
|
99.99%
|
2,140
|
|
|
|
|
|
|
Proposal
#3
|
|
|
|
|
|
Votes
For
|
Percentage of Votes For
|
Votes
Against
|
|
Approval of
Unallocated Stock Options under Stock Option Plan
|
20,806,496
|
76.25%
|
6,480,034
|
|
Proposal
#4
|
|
|
|
|
|
Votes
For
|
Percentage of Votes For
|
Votes
Against
|
|
Approval of
Shareholder Rights Plan
|
24,069,590
|
88.21%
|
3,216,940
|
|
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 Gold Corporation
Marathon is a Toronto based gold resource development
company focused on the Valentine Lake property in central
Newfoundland. Marathon's mission is to rapidly move the
Valentine Lake project towards advanced exploration and
pre-development stages. For more information
visit: www.marathon-gold.com.
About the Valentine Lake Project
The Valentine Lake property, owned 100% by Marathon Gold
Corporation, hosts two well defined gold deposits with NI 43-101
compliant resources: the Leprechaun Gold Deposit and the Victory
Gold Deposit. The Leprechaun Gold Deposit is located near the
south-western end of the Valentine Lake property, and the
Victory Gold Deposit is located 13 kilometers along strike to the
north-east. These gold deposits form part of a 23 km long,
highly prospective gold-bearing mineralized corridor focused along
the Valentine Lake Thrust Fault.
The Leprechaun Gold Deposit has a NI 43-101 compliant Open Pit
and Underground Resource (refer to August 1,
2013 news release). The Open Pit Resource is Measured 3.5
million tonnes containing 247,000 oz Au, and Indicated 6.2
million tonnes containing 412,000 oz Au, and Inferred 1.2 million
tonnes at 1.82 g/t Au containing 71,000 oz Au. The Underground
Resource is Measured 108,000 tonnes containing 17,000 oz Au, and
Indicated 764,000 tonnes containing 100,000 oz Au, and Inferred
349,000 tonnes containing 69,000 oz Au. As a result of favorable
drilling results in 2013 and 2014, the Sprite Area, which is
adjacent to the Leprechaun Gold Deposit, will be a focus of
continued exploration this year. The Sprite Area adjoins the
Leprechaun Gold Deposit and recent promising drilling is located
1.5 km to the north east of the Leprechaun Gold Deposit.
The Victory Gold Deposit (formerly Valentine East Hill) has an Open Pit Resource
(refer to August 1, 2013 news
release). The Open Pit Resource is Indicated 761,000 tonnes
containing 41,000 oz Au, and Inferred 199,000 tonnes containing
9,000 oz Au. Both deposits are open to expansion.
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.
SOURCE Marathon Gold Corporation