Savary Gold Announces Results of the Annual General Meeting and Provides General Corporate Update
Toronto, Canada / TheNewswire / July 8, 2016 - Savary Gold Corp.. (TSX-V: SCA) ("Savary" or the "Company") shareholders approved all matters put forth at the annual and special meeting of shareholders of Savary held on June 28, 2016.
Approval of Board of Directors
Messrs. Don Dudek, Daniel Nocente, Thomas Olesinski, Craig Pearman, and Paolo Lostritto have all been re-elected as directors of the board. Approximately 50% of the Company's common shares were represented at the meeting. Detailed results of the vote are set out below.
| % Votes For | % Votes Withheld | |
| Don Dudek | 96.4 | 3.6 |
| Daniel Nocente | 96.4 | 3.6 |
| Paolo Lostritto | 96.4 | 3.6 |
| Thomas Olesinski | 100 | 0 |
| Craig Pearman | 96.4 | 3.6 |
Re-Approval of Stock Option Plan
The Shareholders of Savary Gold have also re-approved the company's existing 10% rolling stock option plan.
Savary's board would like to express its gratitude to its shareholders for their support.
Recent Drill Program
The Joint Venture has completed 43 core and RC holes totalling 6,578.5 metres. The remaining assay samples have been delivered to the laboratory with the results for the final nine holes expected within the next couple of weeks.
About Savary Gold
Savary Gold, a Canadian exploration company, along with partner, Sarama Resources Ltd., are focused on exploring the 750 km2 Karankasso Property in Burkina Faso. The properties are in the Birimian age Hounde Greenstone Belt, which hosts Semafo's Mana mine and additional gold deposits that are presently subject to extensive exploration efforts (including Endeavour Mining's Hounde Project, Roxgold's Yaramoko Project and Sarama's/Acacia's South Hounde JV Project, which is adjacent to the Karankasso JV property). For additional information please visit our website at www.savarygold.com and follow us on Facebook, LinkedIn and Twitter.
Qualified Person
Don Dudek, P.Geo., President and CEO of the Company and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
On behalf of the Board
"Don Dudek"
President & Chief Executive Officer
For more information, please contact:
Rob Hopkins
Manager, Investor Relations
T: 416-861-5899
E: info@savarygold.com
www.savarygold.com
Cautionary Notes
Neither 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.
This news release may contain forward-looking statements. These statements include statements regarding the details of the potential value growth of the JV, the upside of the property, and our expectations with respect to lower costs, cross marketing and funding synergies resulting from the JV, the drill program, the company's exploration plans and the timing of results, the focus on existing drill targets and new targets. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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