Marathon Gold Corporation: Announces Results of Annual Meeting of Shareholders
TORONTO, June 25, 2014 - Marathon Gold Corporation ("Marathon" or the "Company") (MOZ: TSX) announced today the results of voting at the annual meeting of shareholders held on June 24, 2014 in Toronto, Ontario.All of the director nominees set out in the management information circular dated May 15, 2014 were elected as directors, to serve a one year term. In addition, PricewaterhouseCoopers LLP was re-appointed as the Company's auditor for the fiscal year ending December 31, 2014; unallocated stock options under the Company's Stock Option Plan were approved for a period of three years, as required by the Toronto Stock Exchange; and the Company's Shareholder Rights Plan was reconfirmed, ratified and approved for a period of three years.
Details of the voting are as follows:
| Proposal #1 | ||||
| Votes For | Percentage | Votes Withheld | ||
| George D. Faught | 26,914,380 | 99.63% | 99,050 | |
| Phillip C. Walford | 26,919,380 | 99.63% | 94,050 | |
| Julian B. Kemp | 26,913,740 | 99.63% | 99,690 | |
| Joseph G. Spiteri | 26,915,380 | 99.64% | 98,050 | |
| Douglas H. Bache | 26,907,740 | 99.61% | 105,690 | |
| Proposal #2 | ||||
| Votes For | Percentage | Votes Withheld | ||
| PricewaterhouseCoopers LLP | 28,025,089 | 99.99% | 2,140 | |
| Proposal #3 | ||||
| Votes For | Percentage | Votes Against | ||
| Approval of Unallocated Stock Options under Stock Option Plan | 20,806,496 | 76.25% | 6,480,034 | |
| Proposal #4 | ||||
| Votes For | Percentage | Votes Against | ||
| Approval of Shareholder Rights Plan | 24,069,590 | 88.21% | 3,216,940 |
The Company's shareholders voted in favour of all matters brought before the meeting. The results of voting will be filed at www.sedar.com
About Marathon Gold Corporation
Marathon is a Toronto based gold resource development company focused on the Valentine Lake property in central Newfoundland. Marathon's mission is to rapidly move the Valentine Lake project towards advanced exploration and pre-development stages. For more information visit: www.marathon-gold.com.
About the Valentine Lake Project
The Valentine Lake property, owned 100% by Marathon Gold Corp., hosts two well defined gold deposits with NI 43-101 compliant resources: the Leprechaun Gold Deposit and the Victory Gold Deposit. The Leprechaun Gold Deposit is located near the south-western end of the Valentine Lake property, and the Victory Gold Deposit is located 13 kilometers along strike to the north-east. These gold deposits form part of a 23 km long, highly prospective gold-bearing mineralized corridor focused along the Valentine Lake Thrust Fault.
The Leprechaun Gold Deposit has a NI 43-101 compliant Open Pit and Underground Resource (refer to August 1, 2013 news release). The Open Pit Resource is Measured 3.5 million tonnes containing 247,000 oz Au, and Indicated 6.2 million tonnes containing 412,000 oz Au, and Inferred 1.2 million tonnes at 1.82 g/t Au containing 71,000 oz Au. The Underground Resource is Measured 108,000 tonnes containing 17,000 oz Au, and Indicated 764,000 tonnes containing 100,000 oz Au, and Inferred 349,000 tonnes containing 69,000 oz Au. As a result of favorable drilling results in 2013 and 2014, the Sprite Area, which is adjacent to the Leprechaun Gold Deposit, will be a focus of continued exploration this year. The Sprite Area adjoins the Leprechaun Gold Deposit and recent promising drilling is located 1.5 km to the north east of the Leprechaun Gold Deposit.
The Victory Gold Deposit (formerly Valentine East Hill) has an Open Pit Resource (refer to August 1, 2013 news release). The Open Pit Resource is Indicated 761,000 tonnes containing 41,000 oz Au, and Inferred 199,000 tonnes containing 9,000 oz Au. Both deposits are open to expansion.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to Marathon Gold Corp., certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corp.'s public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.
Contact
Marathon Gold Corporation
Phillip Walford, President and CEO
Tel: 1-416-987-0711
E-mail: pwalford@marathon-gold.com
Christopher Haldane, Investor Relations Manager
Tel: 1-416-987-0714
E-mail: chaldane@marathon-gold.com