Diamcor Announces Results of Annual and Special General Meeting

Rhea-AI Summary

Diamcor Mining Inc. (DMIFF) announced that shareholders approved all resolutions during its Annual General and Special Meeting on December 23, 2021. Significant resolutions included the Amendment to the Stock Option Plan and the election of directors, with a notable 98.59% of votes in favor of the number of directors proposed. A total of 43,812,357 shares were voted, representing 48.48% of all outstanding shares. The company continues to strengthen its operational capabilities through its partnership with Tiffany & Co. for diamond supply.

Positive

• Shareholders passed all resolutions during the AGM held on December 23, 2021.
• 98.59% of votes were in favor of the number of directors proposed.
• Strong approval for the Amendment to the Stock Option Plan with 77.52% in favor.

Negative

• The Amendment to the Stock Option Plan faced considerable dissent with 22.48% of votes against.

KELOWNA, BC / ACCESSWIRE / December 31, 2021 / Diamcor Mining Inc. (TSXV.DMI)(OTCQB:DMIFF)(FRA:DC3A), ("Diamcor" or, the "Company") announced today that shareholders passed each of the resolutions described in the Company's proxy materials by the required majority of voting at the Company's Annual General and Special Meeting (the "AGM") held on December 23, 2021, including the approval of the Amendment to the Stock Option Plan by an ordinary resolution of the disinterested shareholders.

The total number of votes cast for each resolution is set out in the table below.

MOTIONS	NUMBER OF SHARES					PERCENTAGE OF VOTES CAST
	FOR	AGAINST	WITHHELD/ ABSTAIN	INSIDERS	NON VOTE	FOR	AGAINST	WITHHELD/ ABSTAIN
Number of Directors	36,542,656	522,809	0		6,746,892	98.59%	1.41%	0.00%
Dean H. Taylor	36,368,056	0	697,409		6,746,892	98.12%	0.00%	1.88%
Darren Vucurevich	36,368,056	0	697,409		6,746,892	98.12%	0.00%	1.88%
Sheldon Nelson	35,327,560	0	1,737,905		6,746,892	95.31%	0.00%	4.69%
Dr. Stephen Haggerty	36,705,306	0	360,159		6,746,892	99.03%	0.00%	0.97%
Appointment of Auditors	42,689,608	0	1,122,749		0	97.44%	0.00%	2.56%
Amendment to Stock Option Plan	8,800,526 *	2,552,779	0	25,712,160	6,746,892	77.52%	22.48%	0.00%

* Excluding 25,712,160 shares held by Insiders

TOTAL SHAREHOLDERS VOTED BY PROXY: 70

TOTAL SHARES ISSUED & OUTSTANDING: 90,365,468

TOTAL SHARES VOTED: 43,812,357

TOTAL % OF SHARES VOTED: 48.48%

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com .

About Krone-Endora at Venetia

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers' flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project's total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade "Alluvial" basal deposit which is covered by a lower-grade upper "Eluvial" deposit. The deposits are proposed to be the result of the direct-shift (in respect to the "Eluvial" deposit) and erosion (in respect to the "Alluvial" deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta ("APEGA"). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
DTaylor@diamcormining.com
Tel (250) 864-3326

www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) -757-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

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

SOURCE: Diamcor Mining Inc.

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https://www.accesswire.com/680452/Diamcor-Announces-Results-of-Annual-and-Special-General-Meeting

FAQ

What was the date of the Diamcor Mining Inc. AGM in 2021?

The Diamcor Mining Inc. AGM took place on December 23, 2021.

What percentage of votes were in favor of the Amendment to the Stock Option Plan?

77.52% of votes were in favor of the Amendment to the Stock Option Plan.

How many shares were voted at the Diamcor AGM?

A total of 43,812,357 shares were voted at the Diamcor AGM.

What is the importance of the Tiffany & Co. alliance for Diamcor Mining Inc.?

The alliance with Tiffany & Co. allows Diamcor to sell up to 100% of its future diamond production to Tiffany & Co.

What was the total percentage of shares voted during the Diamcor AGM?

The total percentage of shares voted during the Diamcor AGM was 48.48%.