Troilus Announces AGM Results

Rhea-AI Summary

Troilus Gold Corp. (OTCQB: CHXMF) held its Annual General Meeting on December 15, 2021, where shareholders elected new directors with over 43% of shares represented. The election results showed overwhelming approval for nominees, with all receiving over 99% of votes in favor. Additionally, shareholders approved the appointment of the Company’s auditors. Former director Andrew Cheatle did not seek re-election. Troilus aims to advance the Troilus Mine project in Quebec, which previously yielded over 2 million ounces of gold and continues to show potential for further development.

Positive

• Election of directors received over 99% approval, reflecting strong shareholder confidence.
• Strategic focus on advancing the Troilus Mine project, which has a history of significant mineral production.

Negative

• None.

TORONTO, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX: TLG; OTCQB: CHXMF) (“Troilus” or the “Company”), reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the Management Information Circular dated November 8, 2021 for the Annual General Meeting of Shareholders of the Company (the “Meeting”) were elected as directors of the Company. Over 43% of all of the issued and outstanding shares of the Company were represented at the Meeting.

Detailed results of the vote for the election of directors held at the Meeting on December 15, 2021 in Toronto, Ontario are set out below.

The shareholders approved the election as directors of the persons listed below, based on the following vote.

Board of Director Nominees	% Votes For	% Votes Withheld
Justin Reid	99.95	0.05
Diane Lai	99.97	0.03
Hon. Pierre Pettigrew	99.76	0.24
Jamie Horvat	99.9	0.1
Tom Olesinski	99.9	0.1
Eric Lamontagne	99.76	0.24
John Hadjigeorgiou	99.7	0.3

Shareholders at the annual meeting also approved the appointment of the Company's auditors.

Mr. Andrew Cheatle did not stand for re-election as a director and ceased to be a director effective December 15, 2021. Troilus thanks Mr. Cheatle for his time, service, and contributions during his tenure.

Troilus’ board would also like to express its gratitude to its shareholders for their continued support.

Troilus Gold Corp. is a Canadian-based junior mining company focused on the systematic advancement and de-risking of the former gold and copper Troilus Mine towards production. From 1996 to 2010, the Troilus Mine produced +2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus is located in the top-rated mining jurisdiction of Quebec, Canada, where is holds a strategic land position of 1,420 km² in the Frôtet-Evans Greenstone Belt. Since acquiring the project in 2017, ongoing exploration success has demonstrated the tremendous scale potential of the gold system on the property with significant mineral resource growth. The Company is advancing engineering studies following the completion of a robust PEA in 2020, which demonstrated the potential for the Troilus project to become a top-ranked gold and copper producing asset in Canada. Led by an experienced team with a track-record of successful mine development, Troilus is positioned to become a cornerstone project in North America.

For more information:

Caroline Arsenault
VP Corporate Communications
+1 (647) 407-7123
info@troilusgold.com 

Cautionary statements

This press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, the impact of the results on the Company and the receipt of any required regulatory approvals. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact the COVID 19 pandemic may have on the Company’s activities (including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the high degree of uncertainties inherent to preliminary economic assessments and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other precious metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Technical Report and in other continuous disclosure documents of the Company available under the Company’s profile at www.sedar.com. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

FAQ

What were the results of Troilus Gold Corp's Annual General Meeting on December 15, 2021?

At the Annual General Meeting on December 15, 2021, Troilus Gold Corp. elected new directors with over 99% approval from shareholders.

What percentage of shares were represented at Troilus Gold Corp's AGM?

Over 43% of all issued and outstanding shares were represented at the Troilus Gold Corp's AGM.

Who were the elected directors at Troilus Gold Corp's AGM on December 15, 2021?

The elected directors included Justin Reid, Diane Lai, Hon. Pierre Pettigrew, Jamie Horvat, Tom Olesinski, Eric Lamontagne, and John Hadjigeorgiou.

Did any directors leave Troilus Gold Corp during the AGM?

Yes, Andrew Cheatle did not stand for re-election and ceased to be a director effective December 15, 2021.

What is the significance of the Troilus Mine project for Troilus Gold Corp?

The Troilus Mine project is significant as it previously produced over 2 million ounces of gold and continues to show potential for further exploration and development.