TORONTO, June 06, 2018 (GLOBE NEWSWIRE) -- Marathon Gold Corporation ("Marathon" or the "Company") (TSX: MOZ ) announced today the results of voting at the annual meeting of shareholders held on June 5, 2018 in Toronto, Ontario.
All of the director nominees set out in the management information circular dated April 20, 2018 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, 2018.
Details of the voting are as follows:
| Proposal #1 – Election of Directors | |||||
| Votes For | Percentage of Votes For | Votes Withheld | |||
| George D. Faught | 65,863,334 | 99.78% | 143,519 | ||
| Phillip C. Walford | 65,959,813 | 99.93% | 47,040 | ||
| Julian B. Kemp | 65,861,013 | 99.78% | 145,840 | ||
| Joseph G. Spiteri | 65,952,053 | 99.92% | 54,800 | ||
| Douglas H. Bache | 65,861,934 | 99.78% | 144,919 | ||
| Janice A. Stairs | 65,950,353 | 99.91% | 56,500 | ||
| Proposal #2 – Reappointment of Auditor | |||||
| Votes For | Percentage of Votes For | Votes Withheld | |||
| PricewaterhouseCoopers LLP | 74,940,382 | 99.81% | 142,250 | ||
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 Gold Corp. (“Marathon”) is a high-quality growth-oriented gold development company with a long-term strategy of moving the 100% owned Valentine Lake Gold Camp through to production in central Newfoundland. Marathon recently completed a positive PEA that shows an average annual production of 188,500 ounces per year over the first 10 years with an after-tax payback of 2.8 years, an after-tax NPV (5%) of $466 million and an after-tax IRR of 25%. The Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,137,400 oz. of gold at 1.99 g/t and inferred resources totaling 1,104,700 oz. of gold at 1.99 g/t. Most of the resources occur at the Marathon and Leprechaun Deposits. All the deposits are open to expansion. Marathon’s 240 sq. km sized Valentine Lake property has multiple exploration targets to be explored in 2018.
To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com .
For more information, please contact:
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 otherwi se.
