Stellar AfricaGold President Delivers New Year's Message and Reports AGM Results
Vancouver, January 4, 2021 - J. François Lalonde, President and Chief Executive Officer of Stellar AfricaGold Inc., (TSXV:SPX) (OTC:STLXF) ("Stellar" or the "Company") reports: President's New Year's Address
"Holding Stellar's AGM at the end of the calendar year provides a natural opportunity to reflect on the recent year and to look forward to the exciting events planned for the months to come" commented Stellar's President J. François Lalonde.
"During 2021 Stellar initiated a new exploration program on its Moroccan Tichka Est gold project which led to an exciting gold discovery (see news release October 25th, 2021). Following up on those encouraging results Stellar's 2022 exploration programs will focus on expanding the gold discoveries within the B and A structures while continuing to explore other prospective structures within the permit area.
Additionally Stellar is actively preparing for the first drill campaign at Tichka Est project which will begin as soon as the planned heavy equipment access road and drill pads are completed.
In Mali, Stellar successfully secured the final grant of the Namarana exploration permit, and the planning for a Q1 exploration program is well advanced.
Similarly, in Côte d'Ivoire, early-stage exploration programs are planned for the Prikro permit, and three other permit applications which remain in the 'pending' category are being pursued with the relevant governmental permit granting authorities.
I am looking forward to 2022 with great excitement and expect that Stellar shareholders will share my enthusiasm as Stellar's plans for 2022 unfold."
Results of Annual and Special General Meeting
The Annual and Special General Meeting of Shareholders (the "Meeting") of the Company was held on December 29, 2021 in Vancouver, BC. At the Meeting, shareholders approved all resolutions included in the Information Circular including the election of the board of directors, the appointment of the auditor and the approval of the Company's incentive stock option plan.
Total Voting Shares
A total of 14,466,454 shares representing 14.42% of the issued capital were voted at the annual meeting. No shares or proxies were disqualified.
Election of the Board of Directors
The following directors were re-elected with the vote totals noted.
| Directors | Votes For | Votes Withheld |
| Maurice Giroux | 13,020,687 (99.92%) | 10,210 (0.08%) |
| John Cumming | 13,018,306 (99.90%) | 12,591 (0.10%) |
| John Ryan | 13,018,266 (99.90%) | 12,631 (0.10%) |
| François Lalonde | 13,020,697 (99.92%) | 10,200 (0.08%) |
| Yassine Belkabir | 13,020,697 (99.92%) | 10,200 (0.08%) |
| Lauren McCrae | 13,018,306 (99.90%) | 12,591 (0.10%) |
Appointment of Auditor and Incentive Stock Option Plan
The shareholders also approved the appointment of Smythe LLP, Chartered Accountants, as the Company's auditor and approved the Company's rolling incentive stock option plan.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian exploration company listed on the TSX Venture Exchange symbol TSX.V: SPX, the OTCQB® Venture Market symbol OTCQB: STLXF and the Frankfurt Stock Exchange FSE: 6YP1.
The Company maintains offices in Vancouver, BC and in Montreal, QC and has a representative office in Casablanca, Morocco. Stellar's principal exploration project is its discovery at the Tichka Est Gold Project in the Atlas Mountains of Morocco. Stellar also holds two grassroots projects, the Namarana Gold Project in Mali and the Prikro Gold Project in Côte d'Ivoire.
Stellar's President J. François Lalonde can be contacted at 514-994-0654 or by email at lalondejf@stellarafricagold.com.
Additional information is available on the Company's website at www.stellarafricagold.com.
On Behalf of the Board
J. François Lalonde
J. François Lalonde
President & CEO
This release contains certain "forward-looking information" under applicable Canadian securities laws. Forward-looking information reflects the Company's current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Forward looking information contained in this news release includes, without limitation, statements relating to the completion of the Opawica Transaction and the exploration and development potential of the Balandougou II permit. Forward looking information are based on assumptions made by the Company. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: the failure of Stellar to obtain TSX-V approval of the Opawica Transaction, the failure of Mosaic to complete the Mosaic Concurrent Financing, that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.
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.
Copyright (c) 2022 TheNewswire - All rights reserved.