News Releases

Jun 08, 2017

Marathon Gold Announces Results of Annual Meeting of Shareholders

TORONTO, June 8, 2017 /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 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.

For more information, please contact:

Marathon Gold Corporation

Phillip Walford
President and CEO
Tel: 1-416-987-0711
E-mail: pwalford@marathon-gold.com

Christopher Haldane
Investor Relations Manager
Tel: 1-416-987-0714
E-mail: chaldane@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.