Rockex Mining Corporation

Rockex Mining Corporation

June 25, 2013 18:18 ET

Rockex Reports Approval of By-Law Requiring Advance Notice of Nominations of Directors and Results of Voting for Directors at Annual and Special Shareholders' Meeting

TORONTO, ONTARIO--(Marketwired - June 25, 2013) - Rockex Mining Corporation ("Rockex" or the "Company") (TSX:RXM) announces that, at its June 20, 2013 annual and special shareholders' meeting, the shareholders approved a by-law, similar to by-laws and policies recently adopted by many other Canadian public companies, requiring advance notice to the Company for nominations of directors by shareholders, other than through a requisitioned meeting or by way of a shareholder proposal pursuant to applicable corporate laws. The by-law became effective immediately upon approval by the shareholders.

The by-law is not intended to discourage director nominations but rather to facilitate orderly and efficient meetings at which directors are to be elected and to permit shareholders to make an informed vote by allowing them to receive sufficient information with respect to all director nominees and reasonable time for deliberation.

The by-law provides shareholders, directors and management of the Company with a clear framework for nominating directors in an orderly and fair manner. The by-law fixes a deadline by which holders of common shares of the Company must submit director nominations to the Chairman of the Board of the Company prior to any annual meeting of shareholders or any special meeting of shareholders at which directors are to be elected. The by-law also sets forth the information that a shareholder must include in a written notice to the Company in order for any director nominee named in the notice to be eligible for election at any annual or special meeting of shareholders.

In the case of an annual meeting of shareholders, notice to the Company must be made not fewer than 30 and not more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is fewer than 50 days after the date on which the first public filing or announcement of the date of the annual meeting was made, notice must be given not later than the close of business on the 10th day following such public filing or announcement. In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be given not later than the close of business on the 15th day following the day on which the first public filing or announcement of the date of the special meeting was made.

For the next annual or special meeting of shareholders of Rockex at which directors are to be elected, notice in accordance with the new by-law of persons to be nominated by shareholders for election as directors must be received by the Chairman of the Board within the time periods specified in the new by-law. A copy of the by-law has been filed and is available under Rockex's profile at

Rockex is also pleased to announce the results of the vote on the election of directors at its June 20, 2013 meeting. Issuers listed on the Toronto Stock Exchange are required to issue a press release providing this information.

Each of the nominee directors listed in the Company's management information circular dated May 15, 2013 was elected a director, without a vote by ballot being conducted. The Company received proxies with regard to voting on the five nominees for election directing votes as set forth in the table below:

Name of Nominee Vote For % Withhold Vote %
Gilles Filion 28,981,905 100% 0 0%
Pierre Gagné 28,981,905 100% 0 0%
Armando Plastino 28,981,905 100% 0 0%
Bruce Reid 28,981,905 100% 0 0%
Jonathon Tondeur 28,981,905 100% 0 0%

About Rockex

Rockex's Western Lake St. Joseph Project - which includes the Eagle Island Deposit, as well as additional potential deposits at Wolf Island and Fish Island - consists of a 100% interest in 23 contiguous mining claims and covers a nominal area of approximately 5,392 hectares located approximately 100 kilometres northeast of Sioux Lookout and 80 kilometres south-southwest of Pickle Lake. Rockex received a NI 43-101 mineral resources estimate for its Eagle Island Deposit concluding that, at an 18% Soluble Iron cut-off grade, there are Indicated Mineral Resources of 590,847,000 tonnes grading 28.84% Fe and Inferred Mineral Resources of 415,757,000 tonnes grading 29.47% Fe in the Eagle Island Deposit (see press release dated February 3, 2011 and the related Technical Report filed on SEDAR).

Rockex holds a 100% interest in three other iron projects in relative close proximity to the Western Lake St. Joseph Project: (i) East Soules Bay, a property consisting of 9 contiguous mining claims (1,408 hectares) in and along the eastern end of Lake St. Joseph, approximately 40 kilometres east of Rockex's Western Lake St. Joseph Iron Project, (ii) the Doran Lake Property consisting of 4 contiguous mining claims (832 hectares) in and along the north shore of Doran Lake, south of Lake St. Joseph, approximately midway between the Western Lake St. Joseph Iron Project and the East Soules Bay Project and (iii) the Root Lake Project, a property consisting of 4 contiguous claims (832 hectares), approximately 100 kilometres north of Sioux Lookout near the central part of Lake St. Joseph.

In addition, Rockex holds a 100% interest in another iron project, the North Spirit Lake Project, a property consisting of eight contiguous mining claims covering 1,536 ha 170 km northeast of Red Lake in Buckett Lake and Hewett Lake Townships.

Forward-Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that Rockex believes, expects or anticipates will or may occur in the future are forward-looking statements. This forward-looking information is subject to a variety of risks and uncertainties beyond Rockex's ability to control or predict that may cause actual events or results to differ materially from those described in such forward-looking information. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Rockex disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Rockex believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be placed on this forward-looking information due to the inherent uncertainty thereof.

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

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