Compass Gold Corp. Receives Minority Shareholder Approval to Africa Mining Acquisition
At the shareholder meeting, the resolution to authorize and approve the Transaction was approved by 100% of the shares entitled to be voted. An aggregate of 7,965,572 shares held by related parties in the Transaction were excluded from voting, as required by applicable securities laws and the policies of the TSX Venture Exchange (the “Exchange“).
Subject to receipt of the Exchange's final approval to the Transaction and completion and delivery of closing documentation pursuant to the terms of the Transaction, the Company plans to complete the Transaction on or about December 13, 2011. On completion of the Transaction, Africa Mining will become an indirect, wholly-owned subsidiary of the Company.
About Compass Gold Corporation
Compass Gold Corporation is a Tier 2 mining issuer listed on the Exchange and focused on gold exploration in Mali, Africa's 3rd largest producer of gold. Compass owns a 51% interest in Africa Mining, which owns four gold exploration permits (Yanfolila, Dandoko, Kolondieba and Solabougouda) as well as an authorization to explore, Mousala, covering a total of 888 sq km's in key gold producing regions in south west Mali, West Africa. Further information is available at www.compassgoldcorp.com.
COMPASS GOLD CORPORATION
James Henderson
President
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.
Contact Information
Compass Gold Corporation
Investor Relations
1-604-638-8067
1-604-648-8105 (FAX)
info@compassgoldcorp.com
www.compassgoldcorp.com