Jilbey Gold Exploration Ltd.
TSX VENTURE : JLB

Jilbey Gold Exploration Ltd.

August 19, 2005 14:00 ET

Jilbey Shareholders Approve Merger with High River Gold Mines Ltd.

BEDFORD, NOVA SCOTIA--(CCNMatthews - Aug. 19, 2005) - The shareholders of Jilbey Gold Exploration Ltd. (TSX VENTURE:JLB)("Jilbey" or the "Corporation") have overwhelmingly voted in favour of a special resolution to merge the Corporation with High River Gold Mines Ltd. ("High River") of Toronto. Under the terms of the Plan of Arrangement, Jilbey shareholders are to receive 0.75 common shares of High River for each common share of Jilbey held.

Computershare Investor Services Inc. acted as Scrutineer at the special meeting of shareholders and reported that of the total shares outstanding at the record date of 35,866,837, 26,122,414 or 72.83 % voted. Of the total number of shares voted, 25,932,914 shares or 99.27% voted for and 189,500 shares or 0.73% against. A "majority of the minority' vote count was also conducted, with an total of 13,701,754 minority shares voted. Of this total, 13,701,754 shares or 98.64% voted in favour and 189,500 shares or 1.36% voted against.

Closing of the transaction is expected to take place September 1, 2005, after which date, Jilbey common shares are to be de-listed from the TSX Venture Exchange and Jilbey shareholders will hold High River common shares.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Jilbey Gold Exploration Ltd.
    Gregory Isenor, P Geo
    President and CEO
    (902) 832-5555
    (902) 832-2223 (FAX)
    or
    Jilbey Gold Exploration Ltd.
    Daniel Whittaker
    VP and CFO
    (902) 832-5555
    (902) 832-2223 (FAX)