Mining minerals

Mayo Lake Minerals 2021 Annual and Special Meeting Report

Ottawa, Ontario–(Newsfile Corp. – September 30, 2022) – Mayo Lake Minerals Inc. (CST: MLKM) (Mayo or the Company) is pleased to report the results of its annual and special meeting for fiscal year 2021 held at 110 Westhunt Drive, Unit 2, Carp, Ontario.

The meeting was chaired by Dr Vern Rampton, chairman and chief executive and attended by its directors, officers and employees, while Covid restrictions limited shareholder participation via conference call. There were 92,537,897 shares outstanding and eligible to vote as of the August 4 record date.

  1. The following directors were unanimously elected: Dr. Vern Rampton, Tyrell Sutherland, Jeff Ackert, Gregory LeBlanc and Lee Bowles; the latter three being qualified as independent directors.

  2. Jones & O’Connell LLP was elected auditor and the directors were authorized to fix their remuneration.

  3. A total of 30,167,641 votes were cast by arm’s length shareholders eligible to vote on the two resolutions relating to the Corporation’s option and PSU/DSU plans. Both plans have been approved and the total number of shares reserved for issuance under each of the two plans has been set at 10% of the shares outstanding on the record date for a total of 18,507,579 between the two plans. planes.

Other company news: The Company also announces the granting of a total of 930,158 stock options exercisable at $0.15 of one common share each; as well as an allocation of 602,699 Restricted Share Units (“RSU”) to corporate officers, directors, contractors and employees. Options and PSUs are valid for 3 years and vest in 3 separate installments scheduled for January 30, 2023, 2024 and 2025. The above awards are subject to approval by all regulatory authorities.

For more information, contact:

Vern Rampton, President and CEO; This email address is protected from spam. You need JavaScript enabled to view it.
Darrell Munro, BB.A, LL.B Corporate Director; This email address is protected from spam. You need JavaScript enabled to view it.

Mayo Lake Minerals Inc. (“Mayo”) is actively engaged in the exploration and development of five precious metal projects in the Tombstone Plutonic Belt of the Tintina Gold Province. The properties cover 240 square kilometers in the Mayo mining district of the Yukon and are within the traditional territory of the Na-Cho Nyäk Dun First Nation. The Company is currently focused on its flagship Carlin-Roop Silver Project (45.8 km²) located in the Keno Hill Silver District and two of its gold properties; Anderson-Davidson covering 129.4 square kilometers and Trail-Minto covering 46 square kilometers. The eastern part of the Silver District has recently been the site of numerous silver discoveries by Metallic Minerals and Mayo. Two active mines; Victoria Gold’s Eagle Gold Mine and Alexco Resources’ Keno Silver Mines are also near Mayo’s properties in the Mayo Mining District.