Lexam VG Gold Inc.

TSX : LEX
FRANKFURT : VN3A
OTCQX : LEXVF


Lexam VG Gold Inc.

May 09, 2014 11:54 ET

Lexam VG Gold Announces Results of Annual General Meeting

TORONTO, ONTARIO--(Marketwired - May 9, 2014) - Lexam VG Gold Inc. (the "Company", "Lexam") (TSX:LEX)(FRANKFURT:VN3A)(OTCQX:LEXVF) is pleased to announce the results of its annual general meeting held on May 8, 2014 (the "AGM"). A total of 102,600,460 common shares, equal to 45.3% of the 226,570,860 issued and outstanding shares were voted at the AGM. The Company reports that Robert McEwen, Richard Brissenden, John Drake, Robin Dunbar, Hugh Squair, John Tait and Robert Van Tassell were re-elected as directors of the Company. The shareholders of Lexam also approved the re-appointment of KPMG LLP as auditors for the Company.

Detailed voting results for the election of directors are as follows:

Director For Withheld Percentage For Percentage Withheld
Mr. Richard Brissenden 75,053,016 5,007,904 93.7% 6.3%
Mr. John Drake 79,770,048 290,872 99.6% 0.4%
Mr. Robin Dunbar 79,842,706 218,214 99.7% 0.3%
Mr. Robert McEwen 79,926,596 134,124 99.8% 0.2%
Mr. Hugh Squair 79,842,202 218,718 99.7% 0.3%
Mr. John Tait 79,820,502 240,418 99.7% 0.3%
Mr. Robert Van Tassell 79,847,374 213,546 99.7% 0.3%

About Lexam VG Gold

Lexam VG Gold explores for gold in the Timmins area of northern Ontario, Canada. The Company is carrying out ongoing exploration programs, designed to build the resource base and to test the growth potential and determine the economics on its four key property assets: Buffalo Ankerite (100% interest), Fuller (100% interest), Davidson Tisdale (68.5% Lexam / 31.5% SGX Resources Inc.) and Paymaster (60% Lexam / 40% Goldcorp Canada Ltd.). Lexam VG Gold had $3.3 million in cash on March 31, 2014, with no bank debt. The Company has 226,570,860 issued and outstanding shares, with 27% owned by Chairman Rob McEwen.

Caution Concerning Forward-Looking Statements

This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, Lexam VG Gold's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks related to: litigation, property title, the Paymaster Option, the state of the capital markets, whether shareholder and regulatory approvals for any proposed transaction are forthcoming, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information. Lexam VG Gold undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See Lexam VG Gold's Annual Information Form dated March 20, 2014 and available on SEDAR (www.sedar.com) for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

To learn more about Lexam VG Gold (TSX:LEX), visit our website: www.lexamvggold.com.

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

Contact Information

  • Lexam VG Gold Inc.
    Mihaela Iancu
    Director, Corporate Administration
    (647) 258-0395 ext. 320 or Toll Free: (866) 441-0690
    (647) 258-0408 (FAX)

    Mailing Address: Lexam VG Gold Inc.
    150 King Street West
    Suite 2800, P.O. Box 24
    Toronto, ON, Canada
    M5H 1J9
    www.lexamvggold.com