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. is a Canadian mineral exploration company focused on road-accessible exploration projects located in the La Ronge Gold Belt of Saskatchewan. MAS Gold’s Greywacke and Preview North Gold Projects are located within 10 km of Highway 102, approximately 60 km west of the producing Seabee and Santoy gold mines operated by SSR Mining Inc.
The Greywacke North gold deposit for which a Mineral Resource of 255,500 t at 9.92 g Au/t has been estimated in the Indicated category, 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) is one of several known stratabound, high-grade gold-bearing zones on the Greywacke Lake Property.
The North Lake gold deposit, located on the Preview North property, 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 the NI 43-101 Technical Report dated April 10, 2020.
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.,
Ronald K. Netolitzky, CEO and Director
MAS Gold Corp.
Suite 420 – 789 West Pender Street
Vancouver, British Columbia
Canada, V6C 1H2
For more information, please contact:
Lubica Keighery, VP Corporate Development
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.