Timberline Resources

Cardinal Resources Announces Results from Annual General Meeting

TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Cardinal Resources Limited (ASX / TSX: CDV) (“Cardinal” or “the Company”) is pleased to announce the results of the Company’s Annual General Meeting held today in Australia (the “Meeting”). At the Meeting, proxies representing 203,582,834 shares were received, representing approximately 38% of the shares eligible for voting at the Meeting as of the record date. All matters presented for approval at the Meeting by management of the Company were duly authorized and approved. The resolutions approved included the advisory resolution approving the Remuneration Report, re-election of management nominees to the board of directors of the Company (“Board”) that were due for election and the ratification of the Company's prior issue of shares.

Detailed voting results regarding the election of directors are as follows:

Name Outcome of
Vote
Shares Voted
For
Votes For
%
Shares
Withheld
Votes
Withheld

%
Michele Muscillo Elected 166,667,494 81.99 36,618,853 18.01
Malik Easah Elected 166,398,494 81.96 36,617,853 18.04

In accordance with ASX Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act 2001 (Cth), the following information is provided to the Australian Securities Exchange in relation to resolutions passed by members of Cardinal.

Resolution

Decided
by a
show of
hands (S)
or poll
(P)


Total
number of
proxy votes
exercisable
by proxies
validly
appointed
Total number of proxy votes in respect of which the
appointments specified that: -
The proxy is to
vote for the
resolution
The proxy is to
vote against
the resolution
The proxy is to
abstain/excluded
on the
resolution
The proxy
may vote
at the
proxy’s
discretion
1 P 199,793,895 161,946,305 36,619,803 1,227,787 0
2 P 203,582,834 166,667,494 36,618,853 296,487 0
3 P 203,312,834 166,398,494 36,617,853 296,487 0
4 P 135,092,932 96,588,052 37,754,274 750,606 0

Note: Resolution numbers in this table refer to the resolution numbers in the Notice of Annual General Meeting dated October 16, 2020.

Further details on the matters voted upon at the Meeting can be found in the Company’s Meeting materials, including the management information circular dated October 16, 2020, which are accessible under the Company's SEDAR profile at www.sedar.com. The Company has also filed a report of voting results on all resolutions voted on at the Meeting on SEDAR.

ABOUT CARDINAL

Cardinal Resources Limited (ASX/TSX: CDV) is a West African gold‐focused exploration and development Company that holds interests in tenements within Ghana, West Africa.

The Company is focused on the development of the Namdini Gold Project and released its Feasibility Study on 28 October 2019.

Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of April 3, 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.

*The Namdini Project has a published gold Ore Reserve of 5.1 Moz (138.6 Mt @ 1.13 g/t Au; 0.5 g/t cut-off), inclusive of 0.4 Moz Proved (7.4 Mt @ 1.31 g/t Au; 0.5 g/t cut-off) and 4.7 Moz Probable (131.2 Mt @ 1.12 g/t Au; 0.5 g/t cut-off).

Authorised for release by the Board of Cardinal Resources Limited.

For further information contact:

Sarah Shipway
Company Secretary
Cardinal Resources Limited
P: +61 8 6558 0573
E: This email address is being protected from spambots. You need JavaScript enabled to view it.


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