Renforth Resources Inc.

Renforth Resources Inc.

July 07, 2008 11:11 ET

Renforth Announces Results From Their Annual General and Special Meeting of Shareholders

TORONTO, ONTARIO--(Marketwire - July 7, 2008) - Renforth Resources Inc. ("Renforth") is pleased to announce that its Annual General and Special Meeting of Shareholders was held on Thursday, July 3, 2008 at the Pantages Suite Hotel & Spa at 11:00am Toronto time. A number of items of business were put before the shareholders.

Resolution Empowering the Board to Determine the Number of Directors on the Board

The shareholder's approved a special resolution empowering the board of directors to determine the number of directors from time to time, within the minimum and maximum set out in Renforth's articles of incorporation. This resolution will also allow the board of directors to increase its size by up to a third between annual meetings of shareholders as per the Business Corporations Act (Ontario).


The shareholder's approved the re-appointment of MSCM LLP Chartered Accountants to serve as auditors of Renforth for the ensuing year and authorized the director's to fix their remuneration.

Board of Directors

The shareholder's approved the following individuals to serve as directors of Renforth for the ensuing year: David Danziger, David Massola, Alpha Pang, Judi Wood, Paul Pathak and Neil Novak.

Renforth welcomes Mr. Novak as a director of the Company. Mr. Novak has 31 years experience in the mining industry, including more than a decade directly related to the diamond exploration industry. Neil graduated from University of Waterloo in 1977 and in 1983 formed a private consulting company, Nominex Ltd. and became involved in various North American and International exploration assignments. Neil was elected to the Board of Spider Resources Inc. in September 1999, and is now the President and Chief Executive Officer of Spider. In January, 2000 Neil through his ownership of Nominex Ltd., created and became the President and Managing Partner in the consulting company Billiken Management Services Inc. through to the beginning of June 2007, when he sold his one third interest. Mr. Novak also serves on the public company boards of Noront Resources Inc., Spider Resources Inc. and Cadillac Ventures Inc. Mr. Novak is also currently Vice President of Noront Resources Ltd.

Stock Option Plan

The shareholder's re-approved a special resolution to maintain the current stock option plan of Renforth; a rolling 10% plan.

About Renforth

Renforth Resources Inc. is a Toronto-based diamond and base metals exploration company with significant concessions in the McFaulds Lake "Ring of Fire" discovery area of north-eastern Ontario. Renforth has five diamondiferous kimberlites: two are at the commercial bulk-sampling stage; the remaining three are targeted for specific follow-up drilling and economic evaluation. These claims lie between ten and twenty kilometres from Noront Resources Ltd.'s recent base metal discoveries at its Double Eagle Project. Renforth intends to explore high-priority sulphide targets and kimberlite targets in 2008.

This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to Renforth. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. Renforth has no intention or obligation to update the forward-looking statements contained in this press release.

No securities regulatory authority has approved or disapproved of the contents of this news release.

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