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Results Of 2023 Annual General Meeting

29.08.2023  |  CNW

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, Aug. 29, 2023 - /CNW/ - Macarthur Minerals Ltd. (TSXV: MMS) (ASX: MIO) (OTCQB: MMSDF) (the Company or Macarthur), is pleased to announce that all resolutions were passed at the Annual General Meeting of the Company held today in Brisbane, Australia.

The results in respect of each of the resolution put to shareholders at the Annual General Meeting are set out in Appendix 1.

Released On behalf of the Board of Directors, Mr Cameron McCall, Executive Chairman and CEO

Company profile

Macarthur is an iron ore development, and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Project mineral resources include the Ularring hematite resource (approved for development) comprising Indicated resources of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26 million tonnes at 45.4% Fe; and the Lake Giles magnetite resource of 53.9 million tonnes (Measured), 218.7 million tonnes (Indicated) and 997 million tonnes (Inferred). The Lake Giles Iron Project also contains Proven Ore Reserves of 51.9 Mt and Probable Ore Reserves of 184.7Mt. Macarthur also holds 24 square kilometre tenement area iron exploration interests in the Pilbara region of Western Australia. In addition, Macarthur has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA. The Mineral Resource and Ore Reserve estimates presented herein have previously been released to the ASX on March 21, 2022, including supporting JORC reporting tables. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of Mineral Resources and Mineral Reserves that all assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Caution Regarding Forward Looking Statements

Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding expected completion of the Feasibility Study; conversion of Mineral Resources to Ore Reserves or the eventual mining of the Project, are forward-looking statements. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include but are not limited to: unforeseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials; the discovery of new large low cost deposits of iron magnetite; the general level of global economic activity; failure to complete the FS; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Appendix 1 - Macarthur Minerals 2023 Annual General Meeting - Voting Results

The following information is provided in accordance with section 251AA(2) of the Corporations Act 2001 (Cth) and ASX Listing Rule 3.13.2.

Resolution details

Instructions given to validly appointed proxies
(as at proxy close)

Number of votes cast on the poll
(where applicable)

Resolution
Result

Resolution

Resolution

Type

For

Against

Proxy's
Discretion

Abstain

For

Against

Abstain*

Carried /

Not Carried

1 Adoption of Remuneration Report

Ordinary

49,716,713

1,020,969

1,225,406

4,250

50,942,119

1,020,969

4,250

Carried

95.68 %

1.96 %

2.36 %


98.04 %

1.96 %



2 Re-Election of Director - Andrew Suckling

Ordinary

57,325,444

996,866

1,229,656

0

58,555,100

996,866

0

Carried

96.27 %

1.67 %

2.06 %


98.33 %

1.67 %



3 Re-Election of Director - Alan Spence Phillips

Ordinary

53,146,637

1,006,866

1,229,656

0

54,376,293

1,006,866

0

Carried

95.96 %

1.82 %

2.22 %


98.18 %

1.82 %



4 Re-Election of Director - Cameron McCall

Ordinary

54,809,623

996,866

1,229,656

0

56,039,279

996,866

0

Carried

96.09 %

1.75 %

2.16 %


98.25 %

1.75 %



5 Election of Director - Paul Ryan Welker

Ordinary

57,774,213

998,097

1,229,656

0

59,003,869

998,097

0

Carried

96.29 %

1.66 %

2.05 %


98.34 %

1.66 %



6 Appointment of Canadian Auditor

Ordinary

57,774,128

878,182

1,239,656

110,000

59,013,784

878,182

110,000

Carried

96.46 %

1.47 %

2.07 %


98.53 %

1.47 %



7 Approval of Fixed 20% Omnibus Incentive Plan, Employee Share Compensation Plan and Consultant Share Compensation Plan

Ordinary

49,469,733

95.44%

1,133,949

2.19%

1,229,656

2.37%

9,000

50,699,389

97.81%

1,133,949

2.19%

9,000

Carried

8 Ratification of Previous Securities Issues

Ordinary

57,634,610

1,008,516

1,354,656

4,184

58,989,266

1,008,516

4,184

Carried

96.06 %

1.68 %

2.26 %


98.32 %

1.68 %



9 Approval of 10% Placement Capacity

Special

57,754,610

1,017,700

1,229,656

0

58,984,266

1,017,700

0

Carried

96.25 %

1.70 %

2.05 %


98.30 %

1.70 %



* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

SOURCE Macarthur Minerals Ltd.



Contact
Cameron McCall, Executive Chairman and CEO, +61 7 3221 1796, communications@macarthurminerals.com; Investor Relations - Australia, Advisir, Madeline Howson, Director, madeline.howson@advisir.com.au; Investor Relations - Canada, Investor Cubed, Neil Simon, CEO, +1 647 258 3310, info@investor3.ca
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