Reliance Announces Results of Annual General and Special Shareholders Meeting

VANCOUVER, Jan. 10, 2014 /CNW/ - Reliance Resources Ltd. (TSX: RI) ("Reliance") or ("the Company") announces the results of the Company's recently held Annual General and Special Meeting of the Company's shareholders as follows:

• The shareholders voted to fix the number of directors at five, and elected the Board of Directors comprising of Gary Lewis, John Levings, Ian Mitchell, George Young and Dr. Michael Nelson.
  
  
• Manning Elliott LLP, Chartered Accountants, was re-appointed as the Company's auditor.
  
  
• The shareholders approved the Company's new "rolling 10%" Stock Option Plan.
  
  
• The shareholders approved of certain amendments to the Company's Articles by a special resolution.
  
  
• The shareholders approved by a special resolution the Company's proposed share consolidation on the basis of one (1) post-consolidation common share of the Company for every five (5) pre-consolidation common shares of the Company (the "Share Consolidation").

The Board of Directors is authorized to implement the Share Consolidation, subject to stock exchange approval, when and whether it deems appropriate to do so, provided that if the Share Consolidation is not implemented by the Company's next annual general meeting, the resolution approving the Share Consolidation will lapse. The Board of Directors has not yet determined to implement the Share Consolidation, but will announce any decision to do so.

ON BEHALF OF Reliance Resources Ltd.

Nicholas Clark
President

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.

SOURCE Reliance Resources Ltd.