SOURCE: Marathon Gold Corp.

Marathon Gold Corp.

June 08, 2017 11:22 ET

Marathon Gold Announces Results of Annual Meeting of Shareholders

TORONTO, ON--(Marketwired - June 08, 2017) - Marathon Gold Corporation ("Marathon" or the "Company") (TSX: MOZ) announced today the results of voting at the annual meeting of shareholders held on June 7, 2017 in Toronto, Ontario.

All of the director nominees set out in the management information circular dated April 28, 2017 were elected as directors, to serve a one year term. In addition, PricewaterhouseCoopers LLP was re-appointed as the Company's auditor for the fiscal year ending December 31, 2017; all unallocated stock options under the Company's Stock Option Plan were approved for a period of three years, as required by the Toronto Stock Exchange; and the Company's Amended and Restated Shareholder Rights Plan was reconfirmed, ratified and approved for a period of three years.

Details of the voting are as follows:

 
Proposal #1 - Election of Directors
   Votes For  Percentage
of Votes For
 Votes 
Withheld
George D. Faught  52,094,871  98.31%  898,200
Phillip C. Walford  52,988,191  99.99%  4,880
Julian B. Kemp  52,704,691  99.46%  288,380
Joseph G. Spiteri  52,988,191  99.99%  4,880
Douglas H. Bache  52,706,691  99.46%  286,380
          
Proposal #2 - Reappointment of Auditor      
   Votes For  Percentage 
of Votes For
 Votes 
Withheld
PricewaterhouseCoopers LLP  60,044,444  99.50%  301,957
          
Proposal #3 - Unallocated Stock Options      
   Votes For  Percentage 
of Votes For
 Votes 
Against
Approval of all Unallocated
Stock Options under Stock
Option Plan and Certain
Amendments to the Stock
Option Plan
 43,725,521  82.51%  9,267,550
          
Proposal #4 - Amended and Restated Shareholder Rights Plan     
   Votes For  Percentage 
of Votes For
 Votes 
Against
Approval of Amended and 
Restated Shareholder Rights
Plan
 52,949,451  99.92%  43,620
       

The Company's shareholders voted in favour of all matters brought before the meeting. The results of voting will be filed at www.sedar.com.

About Marathon

Marathon is a Toronto based gold exploration company rapidly advancing its 100% owned Valentine Lake Gold Property located in Newfoundland, one of the top mining jurisdictions in the world. The Valentine Lake Gold Property currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 1,388,200 oz. of gold at 1.91 g/t and inferred resources totaling 766,500 oz. of gold at 2.24 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the pit shell. Both deposits are open to depth and on strike. Gold mineralization has been traced down over 350 meters vertically at Leprechaun and almost a kilometer at Marathon. The four deposits outlined to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had little detailed exploration activity to date. Drilling in 2017 is continuing to focus on expanding the Marathon Deposit at surface and to depth.

The Valentine Lake Gold Property is accessible by year-round roads and is located in close proximity to Newfoundland's electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and 50% to 70% recoveries via low cost heap leaching at both the Leprechaun and Marathon Deposits.

To find out more information on the Valentine Lake Gold Camp please visit www.marathon-gold.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes "forward-looking statements". Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation's public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

Contact Information