Amarillo reports AGM results

Rhea-AI Summary

Amarillo Gold Corporation announced that all resolutions from its 2021 annual meeting were successfully passed, including the re-election of all director nominees. Notable approvals include the re-appointment of MNP LLP as auditor and the re-approval of its stock option and restricted share unit plans. Approximately 50.13% of common shares were represented. The company is advancing its gold projects in Brazil, with the Posse Gold Project showing promising feasibility for profitable operations.

Positive

• All resolutions from the 2021 annual meeting passed.
• All director nominees re-elected, ensuring continuity in leadership.
• Re-appointment of MNP LLP as auditor indicates strong governance.
• Posse Gold Project has a positive feasibility study, indicating low costs and strong returns.
• Potential for discovering additional deposits to extend mine life.

Negative

• None.

TORONTO, Dec. 17, 2021 (GLOBE NEWSWIRE) -- All resolutions set out in the information circular for the 2021 annual and special meeting of shareholders passed, reported Amarillo Gold Corporation (Amarillo or the Company) (TSXV: AGC, OTCQB: AGCBF).

The Company’s annual meeting was held virtually yesterday. All director nominees – David Birkett, David Laing, Lawrence Lepard, Michael Mutchler, Rostislav Raykov, Antenor Silva, and Rowland Uloth – have been re-elected to serve for the coming year. The following resolutions were also approved:

• re-appointing MNP LLP, Chartered Accountants as auditor
• re-approving the stock option plan
• re-approving the restricted share unit plan.
  

A total of 193,546,613 common shares representing 50.13% of the outstanding common shares were represented in person or by proxy at the meeting. Further details on the matters considered at the meeting can be found in Amarillo’s 2021 information circular, which is available at the Company website or under its profile on SEDAR.

ABOUT AMARILLO

Amarillo is advancing two gold projects located near excellent infrastructure in mining-friendly states in Brazil. The development stage Posse Gold Project is on the Company’s Mara Rosa Property in Goiás State. It has a positive definitive feasibility study that shows it can be built into a profitable operation with low costs and a strong financial return. Mara Rosa also shows the potential for discovering additional near-surface deposits that will extend Posse’s mine life beyond its initial 10 years. The exploration stage Lavras do Sul Project in Rio Grande do Sul State has more than 23 prospects centered on historic gold workings.

Amarillo trades on the TSXV under the symbol AGC and the OTCQB under the symbol AGCBF.

Follow Amarillo on LinkedIn, Twitter, and YouTube.

www.amarillogold.com

CONTACT INFORMATION

Mike Mutchler President & CEO 416-294-0736 mike.mutchler@amarillogold.com	Annemarie Brissenden Investor Relations 416-844-6284 annemarie.brissenden@amarillogold.com

NOTES

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.

Forward-looking statements

This news release contains forward-looking statements regarding the Company’s current expectations regarding future events, including its business, operations and condition, and management’s objectives, strategies, beliefs and intentions.

Various factors may prevent or delay our plans, including but not limited to, the trading price of the common shares of the Company, capital market conditions, impacts from the coronavirus or other epidemics, counterparty risk, TSXV approval(s), contractor availability and performance, weather, access, mineral and gold prices, and success and failure of the exploration and development carried out at various stages of the program. Permission from the government and community is also required to proceed with future mining production. Readers should review the Company’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Company’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements.

Readers should also review the risk factors applicable to junior mining exploration companies generally to better understand the variety of risks that can affect the Company. The Company undertakes no obligation to update publicly or otherwise revise any Forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

PDF available: http://ml.globenewswire.com/Resource/Download/0a19c37f-980d-4c6c-a008-ec7e8c4b3647

FAQ

What resolutions were passed at the Amarillo Gold annual meeting?

All resolutions in the information circular were passed, including the re-appointment of MNP LLP as auditor and re-approval of stock option and restricted share unit plans.

Who were the director nominees re-elected at the meeting?

David Birkett, David Laing, Lawrence Lepard, Michael Mutchler, Rostislav Raykov, Antenor Silva, and Rowland Uloth were re-elected.

What percentage of shares were represented at the Amarillo Gold meeting?

193,546,613 common shares were represented, accounting for 50.13% of outstanding shares.

What is the status of the Posse Gold Project?

The Posse Gold Project has a positive definitive feasibility study, indicating potential for profitable operation.

What is the stock symbol for Amarillo Gold?

Amarillo Gold trades under the symbol AGCBF on the OTCQB.