Copper Lake Resources: AGM Outcomes and Director Transition
Copper Lake Resources Reports on AGM Results
TORONTO -- Copper Lake Resources Ltd (TSX-V: CPL, Frankfurt: WOI, OTC: WTCZF) is excited to share the outcomes from its recent Annual General and Special Meeting of Shareholders.
Key Outcomes from the AGM
During the meeting, an impressive 46,955,474 shares were voted, representing 17.36% of the total issued and outstanding shares as of the record date. Shareholders showed strong support, passing all resolutions outlined in the Company's management information circular.
This included the re-election of existing directors and setting the number of directors at five. The approval of Copper Lake's stock option plan, required annually by the TSX Venture Exchange, was also confirmed, along with the proposed common share consolidation. Votes in favor of the motions ranged significantly, from 97.68% to 83.74%, highlighting the confidence shareholders have in the Company’s leadership.
Director Resignation Announcement
In addition to the AGM results, the Company also announced the resignation of Dr. Jeffrey Malaihollo, PhD, BA, FGS, MAusIMM, effective June 13, 2025. Dr. Malaihollo has decided to step down to focus on other business interests. His long-standing commitment to the Company, which began with his election in September 2016, has greatly impacted Copper Lake, and the Board of Directors expresses their sincere gratitude for his contributions and wishes him all the best in his future endeavors.
Understanding Copper Lake Resources Ltd.
Copper Lake Resources Ltd. operates as a Canadian mineral exploration and development company. The Company has interests in two remarkable projects located in Ontario. The first is the Marshall Lake project, which is well-known for its high-grade VMS minerals, including copper, zinc, silver, and gold.
This project spans approximately 220 square kilometers and is ideally situated close to essential infrastructure, being just 120 km north of Geraldton and 22 km north of the main CNR rail line. Copper Lake holds an impressive 82.97% interest in the joint venture property, comprising 233 claims and 52 mining leases, supplemented by 148 claim cells added in 2018 and 2020 that are fully owned with no royalty obligations.
Additional Properties
Besides Marshall Lake, the Company possesses the Sollas Lake and Summit Lake properties, which are entirely owned and do not suffer from royalty claims. The Sollas Lake property consists of 20 claim cells and has previously undergone EM airborne geophysical surveys that indicated significant conductors amongst favorable geological units.
All while the Summit Lake property currently consists of 100 claim cells covering an area of 20.5 square kilometers and remains accessible year-round, situated immediately west of the original Marshall Lake property. The entire region holds significant cultural importance, being located within the traditional territories of the Aroland and Animbiigoo Zaagi’igan Anishinaabek First Nations.
Norton Lake Property Overview
On top of the activities at Marshall Lake, Copper Lake also boasts a 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and palladium project. This property is positioned in the South Ring of Fire area, around 100 km north of Marshall Lake. Recent developments saw the filing of an updated NI 43-101 mineral resource report, indicating a promising total of 1,795,000 tonnes with an average grade of 0.72% nickel, 0.69% copper, and more, which translates into an impressive 28.3 million lbs of nickel and 27.3 million lbs of copper.
Norton Lake’s mineral resource highlights the strong potential this area holds, further validated by its location within the traditional territories of the Eabametoong (“Fort Hope”) and Neskantaga First Nations.
Closing Statement from the Board of Directors
On behalf of the Board of Directors, I would like to express our appreciation to all shareholders for their participation in the AGM and reaffirm our commitment to advancing Copper Lake Resources Ltd. as a leader in mineral exploration and development.
Copper Lake Resources Ltd.
Terry MacDonald, CEO
(416) 561-3626
Frequently Asked Questions
What were the key outcomes of the AGM for Copper Lake Resources?
All resolutions presented at the AGM were passed, including the re-election of directors and approval of the stock option plan.
Who resigned from the Board of Directors?
Dr. Jeffrey Malaihollo resigned to focus on other business interests, effective June 13, 2025.
What is the significance of the Marshall Lake project?
The Marshall Lake project is noteworthy for its high-grade VMS resources, including copper and zinc, and spans 220 square kilometers.
What are the properties held by Copper Lake Resources?
Copper Lake holds interests in both Marshall Lake and Norton Lake properties which are rich in various minerals.
How can investors stay updated on Copper Lake Resources?
Investors can follow company announcements and updates through their official communication channels, including press releases.
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