VANCOUVER, BC, Dec. 5, 2022
/CNW/ - Fosterville South Exploration Ltd. ("Fosterville South") or
(the "Company") (TSXV: FSX) (OTCQX: FSXLF) (Germany: 4TU) is pleased to report it received
overwhelming shareholder approval of all matters at the Annual
General Meeting held on November 29,
2022.
At the Annual General Meeting, shareholders overwhelmingly
approved all motions put forth, including the re-election of
Bryan Slusarchuk, Rex Motton,
Liza Gazis, Robert McMorran, Charles
Hethey and John Lewins. The
shareholders also approved the appointment of BDO Canada LLP as the
auditors of the Company and the 10% rolling stock option plan of
the Company.
The votes cast for each matter was as follows:
Resolution
|
For %
|
Withheld/Against
%
|
Number of
Directors
|
97.61 %
|
2.39 %
|
Directors
|
|
|
Bryan
Slusarchuk
|
96.46 %
|
3.54 %
|
Rex
Motton
|
96.44 %
|
3.56 %
|
Liza
Gazis
|
96.80 %
|
3.20 %
|
Robert
McMorran
|
96.90 %
|
3.10 %
|
Charles
Hethey
|
96.88 %
|
3.12 %
|
John
Lewins
|
97.29 %
|
2.71 %
|
Appointment of BDO
Canada LLP
|
98.24 %
|
1.76 %
|
Stock Option
Plan
|
96.67 %
|
3.33 %
|
A total of 10,559,210 common shares, being 15.53% of the issued
and outstanding, were voted at the Annual General Meeting.
About Fosterville South
Exploration Ltd.
Fosterville South began with two, 100% owned, high-grade gold
projects called the Lauriston and Golden Mountain Projects, and has
since acquired a large area of granted and application tenements
containing further epizonal (low-temperature) high-grade gold
mineralisation called the Providence Project and a large group of
recently consolidated license tenement applications called the
Walhalla Belt Project, which contain a variety of epizonal and
intrusion related style gold mineralisation, all in the state
of Victoria, Australia. The Fosterville South land
package, assembled over a multi-year period, notably includes a 600
sq. km property immediately to the south of and within the same
geological framework that hosts Kirkland Lake
Gold's Fosterville epizonal gold tenements. Additionally,
Fosterville South has gold-focused projects called the Moormbool
and Tallangallook, which are also located in the state
of Victoria, Australia. Moormbool project has epizonal
style gold mineralisation and Tallangallook has mesozonal and
intrusion relation gold mineralisation.
All of Fosterville South's properties, with the possible
exception of Moormbool, have had historical gold production from
hard rock sources despite limited modern exploration and
drilling.
Qualified Person
The technical content of this news release has been reviewed,
verified and approved by Rex Motton, AusIMM (CP), COO and Director
of Fosterville South, a qualified person as defined by NI 43-101.
Historical records were verified by reviewing annual and quarterly
reports from government records by the Qualified Person.
On behalf of the Company
Rex Motton
Chief Operating Officer and Director
Forward-Looking
Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Fosterville South cautions
that all forward looking statements are inherently uncertain and
that actual performance may be affected by many material factors,
many of which are beyond their respective control. Such factors
include, among other things: risks and uncertainties relating to
Fosterville South's limited operating history, its exploration and
development activities on the Lauriston, Golden Mountain,
Providence and Tallangallook
Properties and the need to comply with environmental and
governmental regulations. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, Fosterville South does not undertake to
publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
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SOURCE Fosterville South Exploration Ltd.