Great Quest Metals Ltd. Announces Results of Annual General Meeting
June 13 2011 - 2:56PM
Marketwired
Great Quest Metals Ltd. (TSX VENTURE: GQ)(FRANKFURT: GQM) is
pleased to announce that it held its Annual General Meeting of
Shareholders (AGM) in Toronto on June 10, 2011. All resolutions on
the agenda were approved by the shareholders.
Notably, shareholders approved motions to expand the Board to
seven, reappoint all existing directors, and appoint Gordon R.
Peeling to the Board. President and CFO, Victor Jones commented,
"It is my pleasure to welcome Mr. Gordon Peeling to the Board of
Directors (see release dated May 16, 2011). The contribution of a
mining professional of Mr. Peeling's stature will be of tremendous
benefit to management and our shareholders."
At the AGM Victor Jones reported on the Company's activities and
drilling programs in Mali. Drilling continues on both the Tilemsi
Phosphate project in eastern Mali and the Company's Sanoukou Gold
project in western Mali, where hole 6 of a 16 hole core drilling
program is underway. On the Tilemsi Phosphate project, over 100
holes have now been completed on the Alfatchafa and Tin Hina target
areas.
Among other resolutions adopted at the AGM, the shareholders
approved and ratified the Company's Stock Option Plan and
re-appointed MacKay LLP as auditors for the Company for the
year.
Following the AGM, the Board of Directors appointed the
following officers: John Clarke, Chairman and CEO; Victor Jones,
President and CFO; Mamadou Keita, Vice President Exploration; and
Jennifer Nestoruk, Corporate Secretary. The Board then named
members of the Committees of the Board as follows: Audit - Victor
Jones, Jed Richardson, and David Shaw; Nominating and Compensation
Committee - Ehud Levy, Jed Richardson and David Shaw; and the
Governance and Corporate Social Responsibility Committee - John
Clarke and Gordon Peeling.
The Board of Directors also approved the grant of stock options
to Mr. Gordon Peeling for the purchase of up to 300,000 shares of
the Company's capital stock in accordance with the Company's Stock
Option Plan. The exercise price was set at $3.30 per share, being
the closing price of the Company's shares on June 10, 2011, and the
options expire on June 10, 2016.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS
LTD.
John A. Clarke, Chairman
Great Quest Metals Ltd. is a Canadian mineral exploration
company carrying out exploration in Mali, West Africa. The Company
is focused on developing the Tilemsi Phosphate Project,
encompassing 737 km(2) in eastern Mali. It also holds several gold
concessions in the productive Birimian gold belt in western Mali.
Great Quest is listed on TSX Venture Exchange (GQ), and the
Frankfurt Stock Exchange (GQM).
12g3-2(b) Exemption #82-3116
Standard & Poor's Listed
The statements that are not historical facts and are
forward-looking statements involving known and unknown risks and
uncertainties could cause actual results to vary materially from
the targeted results.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Great Quest Metals Ltd. George Butterworth Investor
Relations 604-689-2882 or Toll Free: 1-877-325-3838 604-684-5854
(FAX) info@greatquest.com www.greatquest.com
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