Cardinal Resources Announces Shareholder Meeting Results

TORONTO, Dec. 01, 2017 (GLOBE NEWSWIRE) -- Cardinal Resources Limited (ASX:CDV) (TSX:CDV) ("Cardinal" or the "Company") is pleased to announce the results of its annual general meeting of shareholders (the "Meeting") of the Company held November 22, 2017.

All matters presented for approval at the Meeting by management of the Company were duly authorized and approved, including:

(i) election of all management nominees to the board of directors of the Company (“Board”) that were due for election;

(ii) appointment of BDO (WA) Pty Ltd, as auditors of the Company for the ensuing year and authorization of the directors to fix their remuneration; and

(iii) confirmation and reauthorization of the Company's share incentive plan.

Detailed voting results regarding the election of directors are as follows:

Archie Koimtsidis being the Managing Director and Malik Easah having been most recently elected as director at the annual general meeting of shareholders of the Company held on November 7, 2016 and thus not due for re-election at the Meeting, remain on the Board.

Further details on the matters voted upon at the Meeting can be found in the Company’s Meeting materials, including the management information circular dated October 18, 2017, which are accessible under the Company's SEDAR profile at www.sedar.com. The Company has also filed a report of voting results on all resolutions voted on at the Meeting on SEDAR at www.sedar.com.

ABOUT CARDINAL

Cardinal Resources Ltd. (ASX:CDV) (TSX:CDV) is a gold-focused exploration and development Company which holds interests in tenements within Ghana, West Africa. The Company is focused on the development of the Namdini Project through a resource expansion drilling programme, which will form the basis of a Preliminary Economic Assessment ("PEA") which is in progress.

Exploration programmes are also underway at the Company’s Bolgatanga (Northern Ghana) and Subranum (Southern Ghana) Projects.

Disclaimer

This ASX / TSX press release has been prepared by Cardinal Resources Ltd. (ABN: 56 147 325 620) ("Cardinal" or the "Company"). Neither the ASX or the TSX, nor their regulation service providers accept responsibility for the adequacy or accuracy of this press release.

This press release contains summary information about Cardinal, its subsidiaries and their activities, which is current as at the date of this press release. The information in this press release is of a general nature and does not purport to be complete nor does it contain all the information, which a prospective investor may require in evaluating a possible investment in Cardinal.

By its very nature exploration for minerals is a high‐risk business and is not suitable for certain investors. Cardinal’s securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Cardinal and of a general nature which may affect the future operating and financial performance of Cardinal and the value of an investment in Cardinal including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel and foreign currency fluctuations.

Except for statutory liability which cannot be excluded and subject to applicable law, each of Cardinal’s officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this press release and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this Announcement or any error or omission here from. Except as required by applicable law, the Company is under no obligation to update any person regarding any inaccuracy, omission or change in information in this press release or any other information made available to a person nor any obligation to furnish the person with any further information. Recipients of this press release should make their own independent assessment and determination as to the Company’s prospects, its business, assets and liabilities as well as the matters covered in this press release.

Forward‐looking statements

Certain statements contained in this press release, including information as to the future financial or operating performance of Cardinal and its projects may also include statements which are ‘forward‐looking statements’ that may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. These ‘forward – looking statements’ are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Cardinal, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.

Cardinal disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after today’s date or to reflect the occurrence of unanticipated events, other than required by the Corporations Act and ASX and TSX Listing Rules. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and similar expressions identify forward‐looking statements.

All forward‐looking statements made in this press release are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.

For further information contact:

Archie Koimtsidis
CEO / MD
Cardinal Resources Ltd.
P: +61 8 6558 0573

Alec Rowlands
IR / Corp Dev
Cardinal Resources Ltd.
P: +1 647 256 1922