Dianor Announces Results of Annual Meeting of Shareholders; Water Permits Received for Diamond Bulk Sampling Project
VAL-D'OR, CANADA -- (Marketwire) -- 08/25/10 -- Dianor Resources Inc. (TSX VENTURE: DOR) announces that at the annual and special general meeting held in Laval, Quebec on August 24, 2010, Dianor's shareholders re-elected John Ryder, Daniel Duval, Nicholas Houghton, Pierre Paquet, Octavio Soares, Neil Wiener and Werner Zapfe to the Board of Directors. Mr. Ryder is the President and Chief Executive Officer of Dianor and Mr. Duval is the Chairman of the Board and Chief Financial Officer. The shareholders also re-appointed KPMG LLP, Chartered Accountants, as Dianor's auditors.
At the meeting, Dianor's shareholders adopted a resolution approving the creation of a potential new 'Control Person' of the Company, as defined under the policies of the TSX Venture Exchange, which may result from the issuance of common shares by Dianor pursuant to an Amended and Restated Standby Equity Distribution Agreement dated July 9, 2010 between Dianor and Kodiak Capital Group, LLC. Dianor's shareholders also adopted a special resolution approving, ratifying and confirming By-Law No. 2010-1 of the Company with respect to a reduction in the amount of the Company's issued share capital, the whole in connection with a proposed distribution to Dianor's shareholders of a portion of Dianor's shares of a new company intended to focus on diamond exploration on Dianor's Ekomiak properties located in the James Bay region of Quebec.
The Company is also pleased to announce that it has received the Permits to Take Water required for its Diamond bulk Sampling Project, from Ontario's Ministry of the Environment on August 23, 2010. Two permits are required, one for taking water to service the planned declines and sample plant, and the other to take water for pumping from the declines. The permits are valid until September 1, 2014. Dianor is very appreciative of the Ministry of Environments expeditious processing of these permit applications.
Currently the Company is in the process of applying for Certificates of Approval for Water and for Air.
The PowerPoint presentation made by Dianor's CEO to the Shareholders at the AGM on Tuesday August 24th will be available later to-day on the Company's website www.dianor.com.
About Dianor
Dianor is an innovative exploration company focused on advancing diamond exploration properties in the Superior Craton of Canada. The Leadbetter Diamond Project is its most advanced project and is geographically well situated and easily accessible, some 12 kilometres north east of Wawa in Northern Ontario. Substantial exploration work has been conducted on the project since 2005 and in May 2009, the Company received government approval to proceed with a 50,000 tonne bulk sampling programme of the 2.697 Ma old Archean Conglomerate. A preliminary tonnage estimate for this conglomerate is in the range of 549 million to 583 million tonnes (press release July 24th 2007). In addition to diamonds, the conglomerate contains gold, sapphires and rubies (press release January 18th 2007). In 2008, additional diamond discoveries, including rare purple diamonds, were made by the Company in rocks of similar type, age (Archean) and geological settings (press release March 3rd, April 10th, & May 13th 2008) in Quebec. The Quebec diamond properties have increased our portfolio of low cost, accessible exploration targets. These diamond discoveries (Ontario and Quebec) are both unique and amongst the oldest diamond-bearing occurrences in the world.
You can also visit our Web Site: www.dianor.com
Forward-Looking Statements
This news release contains statements that may constitute 'forward-looking information' or 'forward-looking statements' within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Dianor Resources Inc. ('Dianor'). Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Dianor will derive therefrom. Forward-looking information is based on the estimates and opinions of Dianor's management at the time the information is released and Dianor does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
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.
Contacts:
Dianor Resources Inc.
Mr. John Ryder, P. Geo.
President
819-825-7090
819-825-7545 (FAX)
info@dianor.com
Dianor Resources Inc.
Mr. Daniel Duval
Chairman of the Board
819-825-7090
819-825-7545 (FAX)
info@dianor.com
Resultz Media Group Corp.
Mr. Tyler M. Troup, B.Comm
Senior Associate, RMG IR
877-301-9748
519-979-7820 (FAX)
Tyler@thinkRMG.com