BMK MacDonald Mines Exploration Ltd

MacDonald Mines Exploration Ltd. (TSX VENTURE:BMK) ("MacDonald" or the
"Company") is pleased to report the results of its Annual and Special Meeting of
its Shareholders (the "AGSM") held on June 28, 2012 in Toronto, Ontario. A
quorum of the Company's outstanding common stock as of the record date of May
29, 2012 was present in person or by proxy. All resolutions passed by votes in
excess of 99% of the shares voted at the Meeting.


Results of Annual and Special Meeting 



Resolutions                                                                 
1.   To appoint MSCM LLP, Chartered Accountants, as the Auditors of the     
     Company and to authorize the directors to fix their remuneration.      
2.   To elect six directors to serve until the next Annual General Meeting  
     of Shareholders or until such time as their successors are elected or  
     appointed:                                                             
     i.   John P. Sanderson                                                 
     ii.  J.A. Kirk McKinnon                                                
     iii. Hadyn Butler                                                      
     iv.  Richard E. Schler                                                 
     v.   Quentin Yarie                                                     
     vi.  Alex Iannone                                                      
3.   To approve the continuation of the Company's Stock Option Plan as      
     currently instituted.                                                  
4.   To approve share issuances in lieu of cash remuneration to directors   
     and officers.                                                          



Board of Directors' Meeting

The Company announces that on June 28, 2012 a meeting of the Board of Directors
was conducted where the Board approved the following appointments to serve until
the next annual Meeting of Shareholders:




      John P. Sanderson as Chairman of the Board of Directors               
      J.A. Kirk McKinnon as President and Chief Executive Officer           
      Richard E. Schler as Chief Operating Officer & Chief Financial Officer



Acquisition of Claims in the Ring of Fire

The Company also reports that it has signed a mining claims acquisition
agreement with Temex Resources Inc. (TSX VENTURE:TME) ("Temex") to acquire all
of the joint venture property interests it holds with the Company and Noble
Mineral Exploration Inc. (TSX VENTURE:NOB) ("Noble") in the James Bay Lowlands -
Ring of Fire area. 


In order to acquire the property, the Company will issue 40,000 common shares
and 20,000 common share purchase warrants. Each warrant is exercisable at a
price of $0.30 per common share and will expire 2 years from the date of
issuance. All securities to be issued are subject to a hold period of four month
and one day from the date of issuance. Closing of this transaction is
conditional upon receipt of all required regulatory approvals, including that of
the TSX-V.


In combination with the Noble property acquisition noted in the Company's press
release dated June 29, 2012, this acquisition provides the Company with a 100%
interest in all of the related joint venture properties. 


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 information about the Company is available at www.macdonaldmines.com. 

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's plans and expectations. These plans, expectations, risks and
uncertainties are detailed herein and from time to time in the filings made by
MacDonald with the TSX Venture Exchange and securities regulators. MacDonald
does not assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events or otherwise.
We seek safe harbour.

MacDonald Mines Explorat... (TSXV:BMK)
Historical Stock Chart
Von Dez 2024 bis Jan 2025

MacDonald Mines Explorat... (TSXV:BMK)
Historical Stock Chart
Von Jan 2024 bis Jan 2025