SolGold PLC Announces Results of the 2021 AGM

Rhea-AI Summary

SolGold has announced the results of its Annual General Meeting held on December 15, 2021, confirming all resolutions were passed via a poll. The meeting took place in Brisbane and virtually. Key votes include:

• All reports received 100% support.
• Directors' remuneration: 82.66% approval.
• Appointment of auditors: 99.71% approval.

Concerns arose from resolutions with over 20% votes against, prompting the Board to engage with shareholders.

Positive

• 100% approval on statements and reports at AGM.
• 82.66% approval for directors' remuneration indicates strong shareholder support.
• 99.71% approval for auditor appointment reflects confidence in financial oversight.

Negative

• 22% of votes against the appointment of some directors signals shareholder dissatisfaction.
• Concerns raised from resolutions with over 20% opposition could indicate underlying issues.

Results of Annual General Meeting

BISHOPSGATE, LONDON / ACCESSWIRE / December 15, 2021 / The Board of SolGold (LSE:SOLG)(TSX:SOLG) confirms that all resolutions put to shareholders at the Annual General Meeting were conducted via a poll, where the proxy votes received ahead of the meeting were combined with votes cast at the meeting.

The meeting was held in Brisbane, Australia and virtually via the Lumi platform on 15 December 2021.

A breakdown of the poll result for each resolution put to the Meeting is set out below:

Resolutions	Votes for 1	% 2	Votes against	% 2	Abstain 3
Ordinary Business
1, STATEMENTS & REPORTS	1,562,154,061	100.00	20,000	0.00	3,803,765
2, DIRECTORS' REMUNERATION	1,291,897,411	82.66	271,079,992	17.34	3,648,273
3, APPOINT MR. D CUZZUBBO	1,532,635,473	98.53	22,882,645	1.47	10,790,323
4, RE-APPOINT MR. L TWIGGER	1,301,739,326	83.74	252,709,155	16.26	11,859,960
5, RE-APPOINT MR. J WARD	878,266,856	56.46	677,260,931	43.54	10,780,654
6, RE-APPOINT MR. B MOLLER	572,419,019	36.81	982,600,349	63.19	15,348,890
7, RE-APPOINT MR. K MARSHALL	1,112,876,527	71.55	442,468,399	28.45	10,782,214
8, APPOINT PwC AUDITORS	1,556,654,162	99.71	4,527,759	0.29	5,126,520
9, AUDITOR REMUNERATION	1,560,477,534	99.85	2,280,368	0.15	3,550,539
10, AUTHORITY TO ALLOT SHARES	1,219,422,553	77.98	344,384,367	22.02	2,501,521
Special Business
11, DISAPPLY PRE-EMPTION RIGHTS	892,129,542	57.05	671,741,781	42.95	2,437,118
12, FURTHER DISAPPLY PRE-EMPTION RIGHTS	890,046,036	56.90	674,142,522	43.10	2,437,118
13, GENERAL MEETING NOTICE	1,555,119,382	99.35	10,229,695	0.65	1,276,599

Notes:

1. Any proxy appointments which gave discretion to the Chairman or management have been included in the "for" total.

2. As a percentage of the aggregate of votes "for" plus votes "against".

3. An abstention is not counted towards the votes cast "for" or "against" a resolution.

The Board notes the resolutions that attracted greater than 20% of votes cast against the resolution and intends to engage with shareholders to address concerns that resulted in these votes.

The SolGold Board would like to acknowledge the service of Brian Moller who joined SolGold in December 2005 and served as a Non-Executive Director and also as Chair from 2013 to 2020. We are grateful for his dedication, wise counsel and commitment for over 16 years and wish him every success for the future.

This announcement was approved for release by Dennis Wilkins - Company Secretary

CONTACTS

Dennis Wilkins SolGold Plc (Company Secretary) dwilkins@solgold.com.au	Tel: +61 (0) 417 945 049
Ingo Hofmaier SolGold Plc (Acting CFO) ihofmaier@solgold.com.au	Tel: +44 (0) 20 3823 2130
Fawzi Hanano / Lia Abady SolGold Plc (Investors / Communication) fhanano@solgold.com.au / labady@solgold.com.au	Tel: +44 (0) 20 3823 2130
Tavistock (Media) Jos Simson/Gareth Tredway	Tel: +44 (0) 20 7920 3150

Follow us on twitter @SolGold_plc

Certain information contained in this announcement would have been deemed inside information.

ABOUT SOLGOLD
SolGold is a leading resources company focussed on the discovery, definition and development of world-class copper and gold deposits. In 2018, SolGold's management team was recognised by the "Mines and Money" Forum as an example of excellence in the industry and continues to strive to deliver objectives efficiently and in the interests of shareholders. SolGold is aggressively exploring the length and breadth of this highly prospective and gold-rich section of the Andean Copper Belt which is currently responsible for c40% of global mined copper production.

The Company operates with transparency and in accordance with international best practices. SolGold is committed to delivering value to its shareholders, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact.

Dedicated stakeholders
SolGold employs a staff of over 900 employees of whom 98% are Ecuadorean. This is expected to grow as the operations expand at Alpala, and in Ecuador generally. SolGold focusses its operations to be safe, reliable and environmentally responsible and maintains close relationships with its local communities. SolGold has engaged an increasingly skilled, refined and experienced team of geoscientists using state of the art geophysical and geochemical modelling applied to an extensive database to enable the delivery of ore grade intersections from nearly every drill hole at Alpala. SolGold has over 80 geologists on the ground in Ecuador exploring for economic copper and gold deposits.

About Cascabel and Alpala
The Alpala deposit is the main target in the Cascabel concession, located on the northern section of the heavily endowed Andean Copper Belt, the entirety of which is renowned as the base for nearly half of the world's copper production. The project area hosts mineralisation of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. The project base is located at Rocafuerte within the Cascabel concession in northern Ecuador, an approximately three-hour drive on sealed highway north of the capital Quito, close to water, power supply and Pacific ports.

Having fulfilled its earn-in requirements, SolGold is a registered shareholder with an unencumbered legal and beneficial 85% interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel concession covering approximately 50km². The junior equity owner in ENSA is required to repay 15% of costs since SolGold's earn in was completed, from 90% of its share of distribution of earnings or dividends from ENSA or the Cascabel concession. It is also required to contribute to development or be diluted, and if its interest falls below 10%, it shall reduce to a 0.5% NSR royalty which SolGold may acquire for US$3.5million.

SolGold's Regional Exploration Drive
SolGold is using its successful and cost-efficient blueprint established at Alpala, and Cascabel generally, to explore for additional world class copper and gold projects across Ecuador. SolGold is a large and active concessionaire in Ecuador.

The Company wholly owns four other subsidiaries active throughout the country that are now focussed on a number of high priority copper and gold resource targets, several of which the Company believes have the potential, subject to resource definition and feasibility, to be developed in close succession or even on a more accelerated basis compared to Alpala.

SolGold is listed on the London Stock Exchange and Toronto Stock Exchange (LSE/TSX: SOLG). The Company has on issue a total of 2,293,816,433 fully paid ordinary shares and 34,250,000 share options.

See www.solgold.com.au for more information. Follow us on twitter @SolGold plc

CAUTIONARY NOTICE

News releases, presentations and public commentary made by SolGold plc (the "Company") and its Officers may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's Directors, including the plan for developing the Project currently being studied as well as the expectations of the Company as to the forward price of copper. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements.

Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of the TSX and LSE or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may reinterpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.

This release may contain "forward‑looking information" within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding the Company's plans for developing its properties. Generally, forward‑looking information 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", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including assay results) to accurately predict mineralization; errors in management's geological modelling and/or mine development plan; capital and operating costs varying significantly from estimates; the preliminary nature of visual assessments; delays in obtaining or failures to obtain required governmental, environmental or other required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of the Company to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of the Company to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward‑looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The Company and its officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis, and where possible aims to circulate all available material on its website.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: SolGold PLC

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FAQ

What were the results of SolGold's AGM on December 15, 2021?

All resolutions at SolGold's AGM were approved, with significant support for most, but some faced over 20% opposition.

How did shareholders vote on directors' remuneration at the AGM?

Directors' remuneration received 82.66% approval from shareholders.

What challenges did SolGold face during the AGM?

The AGM saw over 20% of votes against certain resolutions, indicating shareholder concerns that the Board will address.

What was the outcome regarding the appointment of auditors at SolGold's AGM?

The appointment of auditors received 99.71% approval, showcasing strong shareholder confidence.

What actions will SolGold take following the AGM results?

SolGold's Board plans to engage with shareholders regarding the resolutions that faced significant opposition.