Bullion Gold Announces Results of Annual General Meeting and Update on James Bay Lithium Project
MONTREAL, July 06, 2023 - Bullion Gold Resources Corp. (TSX-V: BGD) ("Bullion Gold" or "the Company") is pleased to announce that shareholders have approved of all resolutions brought before them at the Annual General Meeting of Shareholders ("AGM") held on July 5, 2023. A total of 8,755,313 shares were represented in person or by proxy at the meeting, representing approximately 16.36% of the Company's 53,508,188 outstanding shares.
The following Board members were duly elected with a minimum of 99.68% of the votes cast: Jonathan Hamel, Gilles Laverdiere, Dennis Marsden, and Michael Cote Gagnon. These directors will hold office until the next annual meeting or until their successors are elected or appointed or a director vacates office in accordance with the by-laws of the Company. Raymond Chabot Grant Thornton was reappointed as the external auditor and will hold office until the next annual meeting at such remuneration as may be determined by the directors with 99.89% of the votes cast supporting the appointment of the auditor. Shareholders also voted 99.27% in favor of the Company's stock option plan. The plan remains subject to the approval of the TSX Venture Exchange.
James Bay Lithium Project
The recent forest fires in Northern Quebec have strongly affected exploration plans for the summer. The Bodo SM property and its surroundings are still under access and work restrictions by SOPFEU. The situation is changing daily, and we hope to have a team on the ground for prospection in the coming weeks.
Composed of 682 cells, the Bodo SM project was acquired based on its potential to contain spodumene pegmatites, the presence of a bedrock largely denuded of vegetation and its location which offers very good accessibility due to its proximity to the main road leading to Chibougamau. The geological environment of Bodo SM is similar to that found in the known geological zones containing lithium in the western part of James Bay. The lithium deposits discovered in the last 10 years have been in greenstone belts in contact with huge granite intrusions. The Company owns 100% of the property, without royalty.
The Bodo SM property covers most of a set of greenstone bands in contact with large granite batholiths and pegmatite granodiorites. The three main greenstone units are made up of amphibolized basalts with a length varying from 20 to 28 km by a width ranging from 2.23 to 8 km. The various granite and granodiorite batholiths bordering these volcanic units would contain, according to the MERN, several pegmatite dykes of different thicknesses, but no serious work has been done to identify the minerals in those visited and mentioned in the RG-144 report dating from 1971. Minerals such as biotite, muscovite or tourmaline have however been noted in the granites visited. Pegmatites containing minerals such as spodumene, lepidolite and petalite are often associated with mica minerals such as biotite and muscovite, as well as silicate minerals such as tourmaline. Pegmatites are usually formed from silica-rich magma that has crystallized slowly, allowing rare minerals to crystallize. Other minerals searched for in association with the potential presence of lithium are beryl, rubidium, and cesium.
This press release was read and approved by Gilles Laverdière, P.Geo., director, and Qualified Person under National Instrument 43-101.
About Bullion Gold Resources
Bullion Gold is involved in the identification, exploration, and development of viable mineral properties in the Province Quebec and British Columbia. For more information on the Corporation, visit www.bulliongold.ca
For further information, please contact:
Jonathan Hamel
President and CEO
jhamel@bulliongold.ca
514-317-7956
Other Information
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts no responsibility for the veracity or accuracy of its content.
Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Corporation. Although Bullion Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Bullion Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Corporation's management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2022 and the first quarter ended March 31, 2023, which are available on the Corporation's profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Bullion Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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