WPC Resources Reports on Annual and Special Meeting of Shareholders and Provides Corporate Update
Vancouver, August 17, 2016 - WPC Resources Inc. (TSXV: WPQ) (the "Company") is pleased to announce that its Annual and Special Meeting of Shareholders (the "Meeting") was held on August 11, 2016. A total of 23.38 million shares were voted by proxy representing 23.6% of the Company's issued common shares. All items were passed by the shareholders and the Board of Directors is continuing as Al Fabbro, Ian Graham, Robert Metcalfe, Wayne Moorhouse, Stephen Wilkinson and Kenneth R. Yurichuk. The following is a summary of the voting details:
| Resolution | Votes For | Votes Against/Withheld |
| Number of directors (6) | 23,030,540 | 0 |
| Allan Fabbro | 23,030,540 | 0 |
| Ian Graham | 23,030,540 | 0 |
| Robert Metcalfe | 23,030,540 | 0 |
| Wayne Moorhouse | 23,030,540 | 0 |
| Stephen Wilkinson | 23,030,540 | 0 |
| Kenneth R. Yurichuk | 23,030,540 | 0 |
| Appointment of Auditors | 23,030,540 | 0 |
| Stock Option Plan | 22,942,540 | 88,000 |
Corporate Update
The Company is currently completing its work on the definitive agreement with Mandalay Resources Corp. to acquire 100% ownership of Lupin Mines Inc. Lupin Mines Inc. owns the past producing Lupin Gold Mine and the advanced stage Ulu Gold Project.
The Lupin Gold Mine consists of a permitted and bonded past producing gold asset with existing and maintained mine, mill and camp infrastructure. Upon completion of the definitive agreement, the Company plans an initial 3,000 metre ($1.5 million budget) drill program at Lupin to identify near-term production targets as well as a mill and mine refurbishment study, both intended to position the Company to restart production at Lupin as expeditiously as possible.
About WPC Resources Inc.
WPC is a Vancouver-based gold company focused on mineral exploration and development. The Company has entered into a letter agreement to acquire a 100% interest in the historic Lupin Gold Mine and Ulu Gold Property from Mandalay Resources Corp.. In addition, The Company has entered into agreements to acquire Inukshuk Exploration Inc., the owner of a 100% interest in the 8,000-hectare Hood River property located contiguous to the Ulu Gold Property. The Company trades on the TSX-Venture Exchange under the symbol, WPQ, and has 98,500,304 common shares currently issued and outstanding.
For further information, please contact:
Stephen Wilkinson, President and CEO
- or -
Wayne Moorhouse, CFO and Secretary
Telephone: 778-379-1433
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including the expected completion of the Placement and the timing thereof, and the expected use of proceeds are forward-looking statements and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.