TRX Gold Reports 2022 Annual Meeting Voting Results

Rhea-AI Summary

TRX Gold Corporation (TSX: TNX, NYSE American: TRX) held its 2022 Annual General and Special Meeting on February 23, 2023, with 52.29% of shares voted. Shareholders approved all proposed items, including the appointment of Dale Matheson Carr-Hilton Labonte LLP as auditors, with 97.96% support. The meeting set the board at six directors and appointed Stephen Mullowney, among others. CEO Stephen Mullowney expressed satisfaction with shareholder engagement and highlighted plans for growth in 2023. The Buckreef Gold Project contains a measured and indicated mineral resource of 35.88 million tons at 1.77 g/t gold, with significant exploration plans ahead.

Positive

• Shareholders voted in favor of all items at the AGM, indicating strong support.
• The Buckreef Gold Project has an NI 43-101 resource of 2,036,280 oz of gold and plans for increasing production.
• The company aims to generate positive cash flow for further exploratory drilling.

Negative

• None.

TORONTO, Feb. 24, 2023 (GLOBE NEWSWIRE) -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is pleased to announce the voting results from its 2022 Annual General and Special Meeting, held February 23, 2023.

A total of 144,706,026 common shares were voted representing 52.29% of the issued and outstanding common shares of the Company. Shareholders voted in favour of all items of business before the Meeting, as follows:

Item Voted Upon	Results of Vote - For	Results of Vote – Withhold
Appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as auditors and authorize the directors to fix the remuneration of the auditors.	141,214,271 (97.96%)	2,936,405 (2.04%)
Set the number of directors at six (6).	107,877,292 (97.57%)	2,687,179 (2.43%)
Appoint Stephen Mullowney as director	107,149,133 (96.91%)	3,415,341 (3.09%)
Appoint James E. Sinclair as director	107,617,179 (97.33%)	2,947,295 (2.67%)
Appoint Dr. Norman Betts as director	107,195,070 (96.95%)	3,369,404 (3.05%)
Appoint Andrew Cheatle as director	107,580,511 (97.30%)	2,983,963 (2.70%)
Appoint Shubo Rakhit as director	106,742,782 (96.54%)	3,821,692 (3.46%)
Appoint Richard J. Steinberg as director	106,514,677 (97.02%)	3,269,979 (2.98%)
To approve a special resolution to amend the Articles of Incorporation to allow for meetings of the shareholders to be held at any location and manner as determined by the board of directors.	108,238,272 (97.90%)	2,326,199 (2.10%)

Stephen Mullowney, TRX Gold Chief Executive Officer states, “We are very pleased with the voter turnout. It’s great to see the interest and engagement from our shareholders. Thank you to both the long-time holders and the newcomers. We are planning for much growth during 2023 and beyond, and are happy to have you alongside. Also, on behalf of the Board of Directors, I would like to take this opportunity to thank Dr William Harvey for his guidance and support over the last several years, as he did not stand for re-election as a director. We wish him well in all future endeavors”.

About TRX Gold Corporation

TRX Gold is rapidly advancing the Buckreef Gold Project. Anchored by a Mineral Resource published in May 2020, the project currently hosts an NI 43-101 Measured and Indicated Mineral Resource of 35.88 MT at 1.77 g/t gold containing 2,036,280 oz of gold and an Inferred Mineral Resource of 17.8 MT at 1.11g/t gold for 635,540 oz of gold. The leadership team is focused on creating both near-term and long-term shareholder value by increasing gold production to generate positive cash flow. The positive cash flow will be utilized for exploratory drilling with the goal of increasing the current gold Resource base and advancing the Sulphide Ore Project which represents 90% of current gold Resources. TRX Gold’s actions are led by the highest ESG standards, evidenced by the relationships and programs that the Company has developed during its nearly two decades of presence in Geita Region, Tanzania.

Investors

Christina Lalli
Vice President, Investor Relations
TRX Gold Corporation
+1-438-399-8665
c.lalli@TRXgold.com
www.TRXgold.com

The TSX and NYSE American have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this press release, which has been prepared by the management of TRX Gold.

FAQ

What were the voting results for TRX at the AGM held on February 23, 2023?

At the TRX Gold AGM on February 23, 2023, shareholders voted overwhelmingly in favor of all items, with over 97% support for key resolutions.

What is the mineral resource at the Buckreef Gold Project?

The Buckreef Gold Project has a measured and indicated mineral resource of 35.88 million tons at 1.77 g/t gold, totaling 2,036,280 oz of gold.

Who was appointed as auditors for TRX Gold Corporation?

Dale Matheson Carr-Hilton Labonte LLP was appointed as auditors with a 97.96% approval rate.

What are TRX Gold's plans for growth in 2023?

TRX Gold plans to increase gold production and generate positive cash flow for exploratory drilling to expand its resource base.