Welcome To The Temex Resources HUB On AGORACOM

Temex Achieves up to 98% Gold Recovery in Metallurgical Testwork on High Grade Whitney Project, Timmins Gold Camp

Free
Message: A Winners Team! (...and 2013 should be very good)
Temex Reports on Results of Annual and Special Meeting of Shareholders1 hour ago by CNW Group

Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or "the Company" or "the Corporation") is pleased to report on the results of the Annual and Special Meeting of Shareholders (the "ASM") held in Toronto, Ontario, on July 16, 2013 at 10:00 am.

ASM Results

A minimum of 40% of the issued and outstanding shares were voted with the following results:

    --  Auditors: parker simone LLP were re-appointed as auditors of
        the Corporation and the directors were authorized to fix the
        remuneration of the auditors;
    --  Directors: Peter Akerley, Ian Campbell, Bruce Durham, Greg
        Gibson, Ronald Goldsack and René Marion were re-elected to the
        Board of Directors of the Corporation; all individuals received
        greater than 97% in favour;
    --  Stock Option Plan: the Stock Option Plan was approved; and
    --  Advance Notice By-Law:  the Advance Notice By-Law was ratified
        and confirmed.


Board Meeting Results

Following the AGM, the Board of Directors confirmed the re-appointment of the executive officers of the Corporation including Ian Campbell, President and CEO, and Edward J. Badida as Chief Financial Officer. Karen Rees, Vice President, Exploration, was appointed Corporate Secretary.

Additionally, the following Board appointments were made:

    --  Chairman of the Board: Gregory Gibson
    --  Audit Committee: Peter Akerley (Chairman), Bruce Durham, Ronald
        Goldsack
    --  Compensation Committee: Peter Akerley (Chairman), Gregory
        Gibson, Ronald Goldsack
    --  Corporate Governance and Nomination Committee: René Marion
        (Chairman), Ronald Goldsack
    --  Health and Safety Committee: Ian Campbell (Chairman), Gregory
        Gibson, René Marion


On Behalf of the Board of Directors,

Ian Campbell President and CEO, Director

About Temex Resources Corp. Temex is a Canadian based exploration company focusing on its portfolio of precious metals properties in the world class mining district of northeastern Ontario. Temex (60% interest) is advancing the Timmins Whitney Gold Project, in partnership with Goldcorp Canada Ltd. (40% joint venture interest; no back-in rights), and exploring the Juby Gold Project (100% Temex).

The Whitney Property has open pit and underground NI 43-101 compliant resources on the Upper Hallnor of 3.0 million tonnes at a grade of 2.44 g/t gold for 234,300 ounces of gold in the Measured category plus 8.8 million tonnes at a grade of 1.97 g/t gold for 555,900 ounces of gold in the Indicated category and 4.1 million tonnes at a grade of 1.82 g/t gold for 241,000 ounces of gold in the Inferred category at a cut-off grade of 0.30 g/t gold for open pit and 2.0 g/t for underground (Note 1).

The Juby Main Zone has NI 43-101 compliant resources of 25.3 million tonnes at a grade of 1.28 g/t gold for 1,041,343 ounces of gold in the Indicated category and 74.2 million tonnes at a grade of 0.91 g/t gold for 2,174,193 ounces of gold in the Inferred category, both at a cut-off grade of 0.40 g/t gold (Note 2).

Temex also has a NI 43-101 compliant resource for tailings material on its Gowganda Silver Project. The tailings piles contain a NI 43-101 compliant resource of 1.94 million tonnes grading 47.5 g/t silver for a contained resource of 2.96 million ounces of silver in the Indicated category (Note 3).

Notes:

  1. Information regarding the mineral resource estimate on the Upper
     Hallnor is in the Company's news release dated September 5, 2012
     and the technical report filed on SEDAR October 19, 2012.  The
     Mineral Resource Statement was prepared for Temex by P&E Mining
     Consultants Inc. of Brampton, Ontario in accordance with NI 43-101
     by Richard Sutcliffe, PhD, P.Geo., Eugene Puritch, P.Eng., David
     Burga, P.Geo., Yungang Wu, P.Geo., Tracy Armstrong, P.Geo., and
     Antoine Yassa, P.Geo., "independent qualified persons" as defined
     by NI 43-101.

  2. Information regarding the mineral resource estimate on the Juby
     Main Zone is in the Company's news release dated April 29, 2013
     and the technical report filed on SEDAR June 12, 2013.  The
     Mineral Resource Statement was prepared for Temex by GeoVector
     Management Inc., Ottawa, Ontario in accordance with NI 43-101 by
     Joe Campbell, BSc, P.Geo., Alan Sexton, MSc, P.Geo., and Duncan
     Studd, MSc, "independent qualified persons" as defined by NI
     43-101.

  3. Information regarding the mineral resource estimate in the
     tailings piles located on the Gowganda Silver Project is in the
     Company's news release dated June 8, 2011 and the technical report
     filed on SEDAR July 21, 2011.  The Mineral Resource Statement was
     prepared for Temex by GeoVector Management Inc., Ottawa, Ontario
     in accordance with NI 43-101 by Allan Armitage, PhD, P.Geol., Alan
     Sexton, MSc, P.Geo., and Joe Campbell, BSc, P.Geo., "independent
     qualified persons" as defined by NI 43-101.


Forward-Looking Information: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, mineral resource estimates, and the development of its projects as well as the timing related thereto. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, general business and economic uncertainties, future mineral prices, uncertainties in mineral resource estimates and adverse market conditions, as well as those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: Temex Resources Corp.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2013/16/c7823.html

SOURCE: Temex Resources Corp.

please visit www.temexcorp.com or email:[email protected] or phone: 416-862-2246
toll free: 866-373-6287
Share
New Message
Please login to post a reply