Maple Gold Reports AGM Results and Provides Corporate Update
June 20, 2018 – Montreal (Quebec): Maple Gold Mines Ltd. (“Maple Gold” or the “Company”) (TSX-V: MGM, OTCQB: MGMLF; Frankfurt: M3G - https://www.youtube.com/watch?v=EQ5Ha9MCkWE) is pleased to report AGM results and provide a brief corporate update. The following directors were elected to the board to hold office until the next annual meeting of shareholders of the Company or until their successors are duly appointed or elected.
David W. Broughton
B. Matthew Hornor
In addition, shareholders at the AGM approved the Company’s stock option plan and the appointment of the Company’s auditors.
Maple Gold is in the process of implementing a number of cost-cutting measures given the current market environment. The Company will provide an update on cost reductions in the coming weeks. Maple Gold expects to report additional drill results from the Douay Gold Project shortly. The Company has experienced longer than anticipated turnaround times on assay results to-date, but expects a steady flow of assay results throughout June and July as additional results are received and interpreted.
Maple Gold’s President and CEO, Matthew Hornor, stated:
The market conditions and current Maple Gold share price have both softened recently, but we remain very optimistic about creating shareholder value going forward. The Douay Gold Project hosts a significant gold resource (Micon 2018) in one of the world’s premier mining jurisdictions with excellent infrastructure and exploration upside. We’ve been very pleased with the discovery of new gold zones and early returns from the recently completed drill program. We still have a significant number of assays to report through June and July and remain on track to complete an updated resource estimate toward year’s end.”
Hornor added: “The Company recently attracted local institutional investors from Quebec approximately two months ago and we continue to have ongoing discussions with other major institutions and mining companies that recognize the opportunity to create meaningful long-term value at Douay.”
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc, P. Geo., Vice-President Exploration, of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this news release through his direct participation in the work.
About Maple Gold
Maple Gold is an advanced gold exploration company focused on defining a district-scale gold project in one of the world’s premier mining jurisdictions. The Company’s 377 km² Douay Gold Project is located along the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec, Canada. The Project has an established gold resource that remains open in multiple directions, with excellent infrastructure and several large scale operating mines within this prolific mining district. Maple Gold has now completed a significant winter drill campaign to expand on the known Resource Areas and test new discovery targets within the Company’s 55 km of strike along the Casa Berardi Deformation Zone. For more information please visit www.maplegoldmines.com.
ON BEHALF OF MAPLE GOLD MINES LTD.
B. Matthew Hornor, President & CEO
For Further Information Please Contact:
Mr. Joness Lang
VP, Corporate Development
Office: +1 416.306.8124
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Forward Looking Statements:
This news release contains “forward-looking information" and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about the prospective mineral potential of the Porphyry Zone, the potential for significant mineralization from other drilling in the referenced drill program and the completion of the drill program. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding timing and completion of the private placement. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on certain estimates, expectations, analysis and opinions that management believed reasonable at the time they were made or in certain cases, on third party expert opinions. Such forward-looking statements involve known and unknown risks, and uncertainties and other factors that may cause our actual events, results, performance or achievements to be materially different from any future events, results, performance, or achievements expressed or implied by such forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.