TORONTO, ONTARIO — (Marketwire) — 07/20/11 — MacDonald Mines Exploration Ltd. (TSX VENTURE: BMK) (the „Company“) announces the results of its Annual and Special Meeting of its Shareholders (the „AGSM“) held on June 28, 2011 in Montreal, Quebec. A quorum of the Company-s outstanding common stock as of the record date of May 16, 2011 was present in person or by proxy.
Proposed Resolutions
Voting Results
All resolutions passed by votes in excess of 99% of the shares voted at the Meeting.
Board of Directors- Meeting
The Company is also pleased to announce that on June 29, 2011, a meeting of the Board of Directors was conducted via telephone conference. At the Meeting, the Board of Directors approved the following appointments to serve in those capacities until the next annual Meeting of Shareholders:
Administration
On July 19, 2011, a total of 2,225,000 stock options were granted or reissued to directors, officers and consultants of the Company in accordance with the terms of the Company-s incentive stock option plan filed with the TSX Venture Exchange and approved by shareholders on June 28, 2011. The options are exercisable at a price of $0.15 per share for a period of five years.
About MacDonald Mines Exploration Ltd.
MacDonald Mines is a mineral exploration company with an established exploration history in the Canadian Northlands. MacDonald Mines has set upon a strategic direction of exploration with particular focus on nickel, chrome, copper, zinc, vanadium and titanium in the „Ring of Fire“ area of the James Bay Lowlands of Northern Ontario. More detailed information about the Company is available on the website at .
Cautionary Statement:
The foregoing information may contain forward-looking statements relating to the future performance of MacDonald Mines Exploration Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from MacDonald Mines plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by MacDonald Mines with the TSX Venture Exchange and securities regulators. MacDonald Mines does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contacts: MacDonald Mines Exploration Ltd. Brent Nykoliation Vice President, Business Development (800) 818-5442 or (416) 364-4986 (416) 364-2753 (FAX)
MacDonald Mines Exploration Ltd. Quentin Yarie, P.Geo Vice President, Exploration (800) 818-5442 or (416) 364-4986 (416) 364-2753 (FAX)
MacDonald Mines Exploration Ltd. Kirk McKinnon President & CEO (800) 818-5442 or (416) 364-4986 (416) 364-2753 (FAX)
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