New Age Metals

MacDonald Mines Exploration Announces Results from Annual Meeting of Shareholders

TORONTO, Aug. 16, 2019 (GLOBE NEWSWIRE) -- MacDonald Mines Exploration Ltd. (TSX-V: BMK) (the “Company” or “MacDonald Mines”) announces the results of its 2019 Annual and Special Meeting of Shareholders (the “Meeting”) held August 15, 2019 in Toronto, Ontario, Canada.

As a result of Gord McKinnon’s passing after the meeting materials were sent to shareholders, management of the Company nominated Al Wiens, in addition to its previously disclosed nominees Quentin Yarie and Kevin Tanas, for election as a director of the Company. The shareholders elected al such nominees as directors of the Company to hold office until the close of the next annual meeting of shareholders of the Company; however it is expected that the Company will appoint a permanent replacement for Mr. McKinnon in due course.

The shareholders also approved a resolution to re-appoint MNP LLP, Chartered Accountants, as auditors of the Company to hold office until the next annual meeting of shareholders, and to authorize the directors to fix their remuneration.

The shareholders approved a resolution re-approving the Company’s stock option plan in accordance with TSX Venture Exchange policies.

Administrative
In accordance with the Blueberry Development property agreement the Company issued 3,000,000 common shares.

About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd. is a mineral exploration company headquartered in Toronto, Ontario focused on gold exploration in Canada.  The Company recently acquired the high-grade past-producing and permitted Scadding Gold Mine and is focused on developing its large SPJ Project in Northern Ontario.

The Company's common shares trade on the TSX Venture Exchange under the symbol "BMK".

To learn more about MacDonald Mines, please visit www.macdonaldmines.com 

For more information, please contact:

Quentin Yarie, President & CEO, (416) 364-4986, This email address is being protected from spambots. You need JavaScript enabled to view it. 

Or Mia Boiridy, Investor Relations, (416) 364-4986, This email address is being protected from spambots. You need JavaScript enabled to view it. 

This News Release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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MacDonald Mines Exploration

Last Trade: C$0.08
Daily Change: -0.025 -23.81
Daily Volume: 2,097,431
Market Cap: C$6.810M
MacDonald Mines Drills 735.5 g/t Gold over 0.96 Metres and 411 g/t Gold over 0.93 Metres within 19.07 Metres of 59.2 g/t Gold in the North Pit Area
MacDonald Mines Reports Whole-Core Assay Results for Near-Surface Discovery Intersection with Visible Gold
MacDonald Mines Drills 11.6 Metres of 2.70 g/t Gold Including 13.40 g/t over 1.3 Metres and 4.32 g/t over 4.5 Metres including 8.80 g/t over 1.3 Metres at Scadding
MacDonald Mines Makes 2 Discoveries at Scadding: 12.10 g/t Gold over 7.8m Including 71.10 g/t over 1m and 5.47 g/t Gold over 4.5m with Significant Copper, Cobalt and REOs
MacDonald Mines Reports Multiple Discovery Zones of Gold Mineralization North of the Scadding Mine: Intersects 9.4 g/t gold over 4.9m, including 35.7 g/t gold over 0.5m, and 24.1 g/t gold over 0.4m
MacDonald Mines Extends High-Grade Gold Zones to the North and Down Dip, Intersects 3.6 g/t Gold over 6m and 4 g/t Gold over 9.4m Commences Winter Drilling Program
MacDonald Mines Drills Wide Breccia Zone Outside of the Historic Scadding Deposit Including 0.4g/t Gold and 0.01% Cobalt
MacDonald Mines Closes Tranche of Private Placement
MacDonald Mines’ Channel Sample Assays Return Gold, Cobalt, Copper and Nickel at the Villeneuve Structure
MacDonald Mines Reports that Grab Samples, Collected 7 km from Scadding Mine, Indicate Potential for Large System on the SPJ Property
MacDonald Mines Reports Near-Surface Discovery at Scadding Deposit - Intersects 7.99 g/t Gold over 26.2 Metres - 16 Holes Pending
MacDonald Mines Announces the Addition of a New Director to the Board and Management Changes

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