TMAC Resources Inc. (TSX: TMR) (TMAC or the Company) is pleased to announce the results of the 2019 Annual General and Special Meeting of Shareholders held on June 19, 2019 in Toronto, Ontario. The Company is also announcing the retirement of John Lydall from the Board of Directors.
Terry MacGibbon, Executive Chairperson, stated, On behalf of the Board of Directors and management, I would like to thank John Lydall for his contributions and years of dedicated service. John has been a valued member of the TMAC Board since the beginning. We wish him all the best in his retirement.
RESULTS OF THE ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS
Election of Directors: Each of the nominee directors listed in TMACs management information circular dated May 9, 2019 was elected as per the votes below.
Andrew B. Adams
Jo£o P. S. Carrªlo
Franklin L. Davis
E. Randall Engel
A. Terrance MacGibbon
David W. McLaren
Jason R. Neal
Appointment of Auditors: KPMG LLP was appointed as the Companys auditor and the directors were authorized to fix the auditors remuneration.
Appointment of Auditors
Amended and Restated Incentive Plan: The amended and restated incentive plan resolution outlined in TMACs management information circular dated May 9, 2019 was approved as per the votes below.
Say on Pay Advisory Vote: The shareholders have accepted the approach to executive compensation disclosed in TMACs management information circular dated May 9, 2019.
Say on Pay
ABOUT TMAC RESOURCES INC.
TMAC operates Hope Bay located in Nunavut, Canada. The property and operations are remote but not isolated, serviced by both a port and airstrip. Hope Bay is an 80 km by 20 km Archean greenstone belt that has been explored by BHP, Miramar, Newmont and TMAC over a period spanning more than 30 years. In that time, more than $1.5 billion of expenditures have been incurred for exploration and evaluation, surface infrastructure, and mine and process plant development. TMAC began producing gold in early 2017 from Doris, its first mine at Hope Bay, and processed gold at the Doris Plant which originally had nameplate capacity of 1,000 tonnes per day and expanded to 2,000 tonnes per day midway through 2018. Hope Bay has 4.8 million ounces of measured and indicated resources at Doris, Madrid and Boston deposits, largely within 350 metres of surface. There is potential to grow these established deposits considerably at depth, and then grow resources further through the prioritized exploration of the more than 90 other identified regional targets. TMAC is also now permitted to produce from both Madrid and Boston.
For further information please contact:
TMAC Resources Inc.
President and Chief Executive Officer