TORONTO, May 23, 2013 /CNW/ - Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP)
("Moneta" or the "Company") is pleased to announce the results from its annual general meeting held
on May 21, 2013.
Over 72 million shares were voted in support, approving the standard
resolutions for the election of directors, the appointment of the
financial auditor, the name change of the Company to Windjammer Gold Inc., approval of the amendments to the 2010 stock option plan, as well as
approval of By-Law No. 2 which effectively increases the quorum
requirements at meetings and adds advance notice provisions for the
nomination of directors by shareholders.
Ian C. Peres, President and CEO of Moneta commented, "This level of
shareholder voting participation continues to be impressive and highly
unusual. We would like to thank shareholders for their overwhelming
voting support in very turbulent markets.
The Company is in a healthy treasury position with over $7.5 million in
cash on hand at March 31, 2013, adequate to undertake an aggressive
2013 program of our significant Golden Highway Project and sufficient
to operate through 2014 if these market conditions persist."
The name change to Windjammer Gold Inc. is expected to be completed
within sixty to ninety days and will be processed cost effectively in
house. All necessary regulatory approvals have been obtained including
the reservation of the new trading symbol. Further information will be
communicated via press release prior to the name change taking force.
Moneta holds a 100% interest in 5 core gold projects strategically
located along the Destor Porcupine Fault Zone in the world class
Timmins Camp with over 75 million ounces of past gold production.
Moneta's land position is one of the largest after three gold producers
including the highly prospective Golden Highway Project. The Golden Highway Project covers 12 kilometers of a highly prospective volcanic/sedimentary belt
along the Destor Porcupine Fault Zone, has exceptional infrastructure
including paved highway access, water, electricity, skilled labor
force, and nearby mills, and currently hosts a NI 43-101 resource
estimate of 1,091,000 ounces indicated (31.1 Mt at 1.09 g/t Au) plus
3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within
Moneta's public documents may be accessed at www.sedar.com. For further information on Moneta, please visit our website at
www.monetaporcupine.com or email us at email@example.com.
SOURCE: Moneta Porcupine Mines Inc.
For further information:
Ian C. Peres, President & CEO