HALIFAX, NOVA SCOTIA - October 21, 2013 - Oceanus Resources Corporation (TSXV:OCN) ("Oceanus" or the "Company") recently held its annual meeting of shareholders where the results of the 2013 exploration program for the La Lajita Gold Property located in the Durango State, Mexico were presented. The presentation highlighted the drilling results which were press released on September 24th, 2013 and included a high-grade intersection of 7.1 g/t Au and 48.8 g/t Ag (8.1 g/t AuEq50) over an interval of 20 meters at the Santo Nino prospect.
The drilling program demonstrated the presence of high-grade mineralization in terms of visible gold and the presence of hematite breccia and green quartz. Such mineralization is typical of high-grade clavos-type structures in the Sierra Madre of Mexico. Planning for the 2014 exploration and diamond drilling programs is underway. Priority drilling targets include the high-grade Santa Nino clavos and Dos Hermanos prospect.
Annual General Meeting
Shareholders holding 7,809,781 shares of the Company were present in person or by proxy at the meeting and voted in favour of all items of business before the annual general and special meeting
The nominees for directors listed in the management proxy circular for the meeting were elected. James Whitman did not reoffer. Details of the vote are set out below.
------------------------------------------------- |Nominee | |% Votes For| |% Votes Withheld| |-----------------------------------------------| | | | | | | |-----------------------------------------------| |Keith Abriel | |100.00% | |0.00% | |-----------------------------------------------| |David Duncan | |99.75% | |0.25% | |-----------------------------------------------| |Richard Gordon| |99.75% | |0.25% | |-----------------------------------------------| |Glenn Holmes | |99.75% | |0.25% | |-----------------------------------------------| |Kevin Lindsey | |100.00% | |0.00% | -------------------------------------------------
Mr. Kevin Lindsey was elected as an independent director at the meeting. Mr. Lindsey is a graduate of St. Mary's University in Halifax, N.S. and holds the professional designation of CMA. Mr. Lindsey has held senior positions in various federal government agencies including Treasury Board of Canada Secretariat and Industry Canada. He presently holds the position of Assistant Deputy Minister Finance at the Department of National Defence. Mr. Lindsey has completed the "Institute of Corporate Directors Program" through the University of Toronto. Since 2009, Mr. Lindsey has been a Director of "The Alterna Group" a financial services company with assets of approximately $2.1 Billion, serving as Chair on both their Finance and Audit Committees.
Oceanus's Chairman and CEO, Richard Gordon, commented; "We are pleased to welcome Kevin Lindsey to the Oceanus board of directors and look forward to his contribution to the board as we advance our exciting high-grade La Lajita gold project.
We would also like to thank James Whitman for his valued contribution during his term as director and wish him well with his future endeavours."
Oceanus also announces that the board of directors has recently granted stock options to directors, officers, employees and consultants in respect of an aggregate of 795,000 common shares. The exercise price of the stock options is $0.25 per share. The stock options, which were granted under Oceanus's 2010 stock option plan, expire 10 years from the date of grant.
About Oceanus Resources Corporation
Oceanus Resources Corporation is a gold exploration and development company run by a team of mining professionals with international experience in discovering open pit gold mines. Oceanus is exploring the 3200 km2 La Lajita Property located in the Sierra Madre Mountains of Durango, Mexico. Epithermal, low-sulphidation gold and silver mineralization associated with considerable hematite and silica alteration is hosted along NW-SE trending fault/breccia structures that have been traced over a strike length of 2 km and to known depths of 150 meters. The mineralization is exposed on surface in numerous small scale "gambusino" workings and in underground workings at the Mina la Guadalupe deposit.
For further information, please contact:
Richard Gordon
Chief Executive Officer, Oceanus Resources Corporation
(902) 798-4536
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Oceanus, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Oceanus's expectations are exploration risks detailed herein and from time to time in the filings made by Oceanus with securities regulators.
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