WHITE ROCK, BC / ACCESSWIRE / April 2, 2014 / New Carolin Gold Corp. (the "Company") (TSX - V: LAD) is pleased to announce that the Company concluded its Annual and Special General Meeting of Shareholders (the "Meeting") held on March 31, 2014.
A total of 15,059,879 common shares were voted at the Meeting or by proxy representing 25.46% of the 59,136,021 outstanding eligible voting shares of the Company as at the record date of February 17, 2014.
Shareholders elected Bruce W. Downing, J. Graham Eacott, Richard T. Gillard, Robert L.Thast and Kenneth R. Holmes to the Company's Board of Directors.
The Company is pleased to welcome Kenneth Holmes as a new member of its Board of Directors. Mr. Holmes began his legal career in 1982 and spent 10 years in a predominantly corporate and securities practice, which included a full complement of commercial, real estate, tax, technology and intellectual property matters and often had international issues and elements. For the past 20 years he has acted as corporate counsel and senior management of public and private companies in a broad range of businesses and transactions, including several involved in the natural resources (mining, oil and gas) sector. Ken Holmes is a director of the following companies: Confederation Minerals Ltd., Velocity Minerals Ltd., Capstream Ventures Inc., and Magna Resources Ltd.
"We are very pleased to have Ken join our Board of Directors," said Graham Eacott, Chairman of the Board. "His acumen and extensive business experience in the natural resource sector make Ken a valuable contributor to the Board as we grow the Company."
"I look forward to working with the New Carolin team as it develops its exciting Ladner Gold Project," said Ken Holmes.
Although Bruce Downing was re-elected as a director by shareholders at the Meeting, he has decided to step down as a director and as president and CEO of the Company so that new leadership can be brought in to the Company to advance its exploration and development projects to the next stage, which requires expertise and experience that the Company does not currently possess. At a Board of Directors meeting following the Meeting, Robert Thast was appointed to the position of interim President and CEO until a permanent appointment is made.
Graham Eacott, Chairman of the Company, paid tribute to the significant contribution that Bruce Downing has made to the Company since his appointment as President and CEO in 2009. "Bruce has assembled a large land package comprising the Coquihalla Gold Belt and overseen exploration and metallurgical programs at the Ladner gold property to grow the mineral resources, which resulted in the filing of an NI 43-101 compliant resource report in May of 2012. He has supervised advancing the tailings project for the recovery of gold and has maintained current all permits, mineral claims and environmental assessment work. Importantly, Bruce has developed meaningful relationships with government agencies, First Nations and the community of Hope that will serve us well in the future as we develop our projects."
At the Meeting, shareholders voted in favour of all other resolutions as set out in the management information circular as follows:
- re-appointment of Crowe MacKay LLP, Chartered Accountants, as auditors of the Company.
- re-adoption and re-approval of the Company's revised stock option plan.
- ratification and approval of the Company's advance notice policy.
- approval of the renewal of the Company's shareholder rights plan until the date of the annual general meeting of shareholders in 2017.
About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior mineral exploration and development company engaged in the acquisition, exploration, evaluation and development of 144 sq kms of contiguous mineral claims, collectively known as the Ladner Gold Project, located along the prospective and under-explored Coquihalla Gold Belt located in southwestern British Columbia, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects.
For further Company and technical information, please visit the Company's website at www.newcarolingold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"J. Graham Eacott"
Phone 778 - 294 - 3211
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Not for distribution in the United States.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
SOURCE: New Carolin Gold Corp.
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