MAS Gold - Special General Meeting

News Release - October 20th, 2020

MAS Gold Corp. (MAS Gold; TSXV: MAS) announces that, at its Special Shareholder meeting held on October 20, 2020, shareholders voted against the proposed plan of arrangement with Southern Empire Resources Corp. The final voting results, as recorded and delivered by Computershare, were as follows:

  • Votes FOR 25,780,812 (65.67%)

  • Votes AGAINST 13,477,057 (34.33%)

In order for the resolution to pass, shareholders representing no less than 66.67% of the recorded vote would have to vote in favor of the plan of arrangement. This threshold was not achieved, hence the resolution cannot go forward and the plan of arrangement is terminated.

About MAS Gold Corp

MAS Gold Corp. (TSX-V: MAS) is a Canadian mineral exploration company with road-accessible projects located in the La Ronge Gold Belt of Saskatchewan approximately 60 km west of the SSR Mining Inc.’s producing Seabee and Santoy gold mines. Please refer to Southern Empire’s news releases dated July 13 and August 19, 2020 available on SEDAR. Southern Empire expects this acquisition to close in the fall of 2020.

MAS Gold’s Greywacke North gold deposit, one of several known stratabound, high-grade gold-bearing zones on the Greywacke Lake Property, has an estimated Indicated Mineral Resource of 255,500 tonnes (t) at a grade of 9.92 grams gold per tonne (g Au/t), plus an Inferred Mineral Resource of 59,130 t at 7.42 g Au/t, at a cut-off grade of 5 g Au/t (see MAS Gold’s NI 43-101 Technical Report of June 1, 2016 available on SEDAR).

The North Lake gold deposit, located on the Preview-North property, 33 kilometres southwest of Greywacke North, has an Inferred Mineral Resource estimated at 417,000 ounces of gold contained in 14,110,000 t grading 0.92 g Au/t (see MAS Gold’s News Release dated March 25, 2020 and their NI 43-101 Technical Report dated April 10, 2020 available on SEDAR).

Qualified Person (QP)

The scientific and technical information contained in this news release has been prepared, reviewed, verified and approved by David Tupper, P.Geo. (British Columbia), Southern Empire’s VP Exploration and a Qualified Person within the context of Canadian Securities Administrators’ National Instrument 43-101; Standards of Disclosure for Mineral Projects.

On behalf of the Board of Directors of MAS Gold Corp,

Ron Netolitzky, CEO and Director

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For further information about MAS Gold please visit both www.masgoldcorp.com or contact: Lubica Keighery, (778) 889-5476, lubica@masgoldcorp.com

Cautionary Notice on Forward-Looking Information

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. MAS Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to MAS Gold’s limited operating history, the need to comply with environmental and governmental regulations, results of exploration programs on their projects and those risks and uncertainties identified in each of their annual and interim financial statements and management discussion and analysis. 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, MAS Gold undertakes no obligation 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