TORONTO, ONTARIO -- (Marketwired) -- 06/25/14 -- Dalradian Resources Inc. ("Dalradian" or the "Company") (TSX: DNA)(TSX: DNA.WT) is pleased to announce that shareholders passed all resolutions proposed at its 2014 Annual General Meeting ("AGM") held earlier today in Toronto.
All nominees listed in the Company's management information circular dated May 26, 2014 were elected as directors of the Company. The detailed results of the vote are as follows:
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Director Vote type Number of Votes Percentage of Votes
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Patrick F.N. Anderson For 54,572,069 99.88%
Withheld 64,000 0.12%
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Thomas J. Obradovich For 54,572,069 99.88%
Withheld 64,000 0.12%
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Ari B. Sussman For 54,562,369 99.87%
Withheld 73,700 0.13%
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Sean E.O. Roosen For 47,851,263 87.58%
Withheld 6,784,806 12.42%
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Ronald P. Gagel For 54,572,069 99.88%
Withheld 64,000 0.12%
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Jonathan Rubenstein For 54,572,069 99.88%
Withheld 64,000 0.12%
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D. Grenville Thomas For 54,572,069 99.88%
Withheld 64,000 0.12%
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The formal report on voting results with respect to all matters voted upon at Dalradian's AGM will be filed on SEDAR at www.sedar.com.
About Dalradian Resources Inc.:
Dalradian Resources Inc. is a TSX-listed gold development and exploration company focused on advancing its high-grade Curraghinalt gold deposit in Northern Ireland.
Dalradian's flagship deposit, Curraghinalt hosts an NI 43-101 compliant measured mineral resource of 0.02 MT grading 20.15 g/t gold for 15,100 contained ounces, indicated mineral resource of 2.98 MT grading 10.34 g/t gold for 989,000 contained ounces and inferred mineral resource of 8.01 MT grading 9.67 g/t for 2,487,700 contained ounces. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Dalradian's NI 43-101 report, "Curraghinalt Gold Deposit, Northern Ireland, Mineral Resource Estimate Update, NI 43-101 Technical Report" is dated May 30, 2014, and was prepared by Tim Maunula, P.Geo., President & Principal Geologist, T. Maunula & Associates Consulting Inc., and is available on SEDAR at www.sedar.com.
Dalradian's 2012 Preliminary Economic Assessment reported positive results for a proposed underground mine at Curraghinalt. Using 2012 3-year and 5-year trailing average gold prices of $1,378 and $1,166 per ounce, the PEA showed an after-tax IRR of 41.9% and 33.4% and NPV of US$467 and US$331 million respectively, based on an 8% discount rate. While the PEA is based on the November 2011 mineral resource estimate, its conclusions are not invalidated by the May 2014 mineral resource update. Dalradian's NI 43-101 report, "A Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project, Northern Ireland" is dated September 6, 2012, and was prepared by Mr. B. Terrence Hennessey, P.Geo., Mr. Barnard Foo, P.Eng., Mr. Bogdan Damjanovic, P.Eng., Mr. Andre Villeneuve, P.Eng., and Mr. Christopher Jacobs, CEng MIMMM of Micon International Limited, and is available on SEDAR at www.sedar.com.
Dalradian's Common Shares and Warrants are listed on the Toronto Stock Exchange under the symbols "DNA" and "DNA.WT" respectively. For further information, please see www.dalradian.com.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, test work and confirming results from work performed to date, estimation of mineral resources and the realization of the expected economics of the Curraghinalt Gold Deposit. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions, continued political stability in Northern Ireland, that permits required for the Company's operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned development and exploration programs, that skilled personnel and contractors will be available as the Company's operations continue to grow, that the price of gold will be at levels that render the Company's mineral project economic, that the Company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource estimates, and that the assumptions contained in the PEA are accurate and complete.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Contacts:
Dalradian Resources Inc.
Marla Gale
Vice President, Communications
+1.416.583.5622
investor@dalradian.com
www.dalradian.com
