San Marco Resources Corp.
TSX VENTURE : SMN

San Marco Resources Corp.

May 03, 2011 18:00 ET

San Marco Resources Announces Results of Its AGM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 3, 2011) - San Marco Resources Corp. (TSX VENTURE:SMN) is pleased to announce that at the Company's Annual General Meeting of shareholders held on May 2, 2011 the following were approved:

  • The incumbent directors, Robert D. Willis, P. Eng., William H. Myckatyn, P.Eng., and Stuart "Tookie" Angus, were re-elected, and the nominee directors, Brian Lock and Craig B. Prenter, CGA, were elected as directors of San Marco Resources.
  • Davidson & Company LLP, the incumbent auditor, was reappointed auditor of San Marco Resources for the coming year.
  • The increase in the number of shares reserved for issuance under the Company's Stock Option Plan from 2,828,465 to 4,037,735 common shares.

Graham Thody and Christopher Dyakowski did not stand for re-election. San Marco Resources thanks them for their contributions to the Board of Directors and wishes them success in their future endeavours.

Following the AGM, the Board of Directors confirmed the appointment of Robert Willis as Chairman and CEO, Julie Capstick as CFO (formerly San Marco's controller). Mr. Brent Hendickson, V.P. Exploration has accepted a position with another company. The Board thanks Brent for his contributions to San Marco and wishes him well in his future endeavours. Mr. Luis Alfonso Soto, Chief Geologist, shall assume all exploration responsibilities in Mexico.

Stock Options

According to its stock option plan San Marco has granted stock options to certain of its directors, employees, management and consultants to purchase an aggregate of 1,030,000 common shares at a price of $0.30 per share for a period of five years.

On Behalf of the Board,

Robert D. Willis

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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