Karnalyte Resources Inc.
TSX : KRN

Karnalyte Resources Inc.

June 23, 2015 17:56 ET

Karnalyte Resources Inc.: Director Elections

CALGARY, ALBERTA--(Marketwired - June 23, 2015) - Karnalyte Resources Inc. ("Karnalyte" or the "Corporation") (TSX:KRN) confirms that all resolutions put to shareholders at Karnalyte's Annual Meeting of Shareholders held on June 23, 2015 were duly passed. A total of 14,371,386 common shares representing 52.3% of Karnalyte's issued and outstanding common shares were voted in connection with the meeting. All the nominees proposed as directors were duly elected as directors of Karnalyte by a majority of the votes cast by the shareholders present or represented by proxy at the meeting, as follows:

Nominee %
Robin L. Phinney 96.15
Henry Kerkhoven 96.77
Vishvesh D. Nanavaty 81.74
Sokuen Sue Ng 97.04
Mukund B. Purohit 83.12
Sanjeev V. Varma 86.65

About Karnalyte Resources Inc.

Karnalyte is engaged in the business of exploration and development of high quality agricultural and industrial potash and magnesium products. Karnalyte intends to develop and extract a carnallite - sylvite mineral deposit through a known solution mining process at competitive costs and with minimal environmental impacts. Using a staged approach to potash plant construction, the Corporation plans to operate a solution mining facility that will initially produce 625,000 tonnes of potash per year, increasing to 2.125 million tonnes of potash per year. Karnalyte owns a 100% interest in Subsurface Permit KP 360A and Subsurface Mineral Lease KLSA-010 located near Wynyard, Saskatchewan, comprising a total of 85,126 acres.

Karnalyte's common shares are traded on the Toronto Stock Exchange (TSX) under the symbol KRN.

Forward-Looking and Cautionary Statements

Some of the statements in this announcement may be forward-looking including statements relating to future business plans of Karnalyte. When used in this announcement, the words, "estimate", "approximate", potential and similar expressions are intended to identify forward-looking statements. Forward-looking statements include statements regarding the intent, belief and current expectations of Karnalyte Resources Inc. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Karnalyte's control. Please refer to Karnalyte's Annual Information Form for the year ended December 31, 2014 and dated April 13, 2015 and available for viewing at www.sedar.com, for a list of risk factors. Karnalyte's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Karnalyte will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Karnalyte or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release.

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