CANEX Announces Results of Annual & Special Meeting and Provides Drilling Update

Rhea-AI Summary

CANEX Metals Inc. held its Annual & Special Meeting on February 24, 2022, where directors Shane Ebert, Jean-Pierre Jutras, Lesley Hayes, and Gregory Hanks were re-elected. Shareholders approved key resolutions, including maintaining four directors and appointing BDO Canada LLP as Auditors. Concurrently, a reverse circulation drill program is in progress at the Gold Range property in Arizona, encompassing 45 holes and 4600 metres of drilling. The focus is on exploring multiple zones, with results for 32 drill holes still pending.

Positive

• Successful re-election of board members, enhancing governance stability.
• Approval of key resolutions including auditor appointment and stock option plan.
• Active drilling program at the Gold Range property, indicating exploration commitment.

Negative

• Pending results for 32 drill holes may cause uncertainty among investors.

CALGARY, AB / ACCESSWIRE / February 24, 2022 / CANEX Metals Inc. ("Canex") is pleased to report that at its Annual & Special Meeting, held on February 24, 2022, Shane Ebert, Jean-Pierre Jutras, Lesley Hayes and Gregory Hanks were re-elected to the Board of Directors. Shareholders also approved fixing the number of directors at four, the appointment of BDO Canada LLP as Auditors and ratified Canex's stock option plan.

A reverse circulation drill program is currently underway at the Companies Gold Range property in Arizona. A total of 45 holes for 4600 metres of drilling has been completed during the ongoing program. The drill has completed multiple step out holes at the Excelsior Zone to test the expansion potential of the recently discovered wide zone of near-surface oxide mineralization at the south end of Excelsior, then completed two holes testing the Central and Lillian Zones, and is now focused on systematically testing the potential of the Malco Zone across 300 metres of strike length. Results for 32 drill holes are pending and will be released in batches as they are completed.

"Shane Ebert"

Shane Ebert,
President/Director

For Further Information Contact:
Shane Ebert at 1.250.964.2699 or
Jean-Pierre Jutras at 1.403.233.2636
Web: http://www.canexmetals.ca

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

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of CANEX Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in CANEX's filings with the Canadian securities authorities. Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.

SOURCE: CANEX Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/690323/CANEX-Announces-Results-of-Annual-Special-Meeting-and-Provides-Drilling-Update

FAQ

What were the results of CANEX Metals' Annual & Special Meeting?

At the meeting held on February 24, 2022, CANEX Metals re-elected four directors and approved several key resolutions.

What is the current drilling program status for CANEX Metals (NOMNF)?

CANEX Metals is conducting a drill program at its Gold Range property in Arizona, having completed 45 holes and 4600 metres of drilling.

When will the results of the drilling program at Gold Range be released?

Results for 32 drill holes are pending and will be released in batches as they are completed.

Who were re-elected to the Board of Directors of CANEX Metals?

Shane Ebert, Jean-Pierre Jutras, Lesley Hayes, and Gregory Hanks were re-elected to the Board of Directors.

What is the significance of the ongoing drilling at the Excelsior Zone?

The drilling aims to test the expansion potential of a recently discovered wide zone of near-surface oxide mineralization at the south end of Excelsior.