TSX: DIAM
SASKATOON, SK, May 30, 2023
/CNW/ - Star Diamond Corporation ("Star Diamond" or the
"Corporation") is pleased to announce that all of the nominees
listed in the management proxy circular dated April 14, 2023 were elected as directors of the
Corporation at its annual meeting of shareholders held on
May 30, 2023 (the "Meeting").
Details of the voting results for the election of directors are
set out below:
Nominee
|
Votes
For
|
Votes
Withheld
|
|
Number
|
%
|
Number
|
%
|
Ewan D.
Mason
|
125,435,750
|
95.99 %
|
5,236,968
|
4.01 %
|
Lisa K.
Riley
|
128,041,551
|
97.99 %
|
2,631,167
|
2.01 %
|
Larry E.
Phillips
|
127,850,014
|
97.84 %
|
2,822,704
|
2.16 %
|
Marilyn D.
Spink
|
128,078,818
|
98.02 %
|
2,593,900
|
1.98 %
|
In addition, shareholders also approved a resolution to re-appoint
KPMG LLP as the Corporation's independent auditor and to approve
the continuation and amendment and restatement of the Corporation's
Shareholder Rights Plan.
Voting results for all matters will be posted on SEDAR at
www.sedar.com.
At today's Meeting, the Chair of the Board, Mr. Ewan Mason, provided an update on the status of
the Fort à la Corne mineral properties (the "Project") and the
Buffalo Hills-JV:
Fort à la Corne mineral properties
Star Diamond continues to work
with Rio Tinto Exploration Canada Inc. ("Rio Tinto Canada") on
assessing alternatives regarding the Project. Although discussions
are encouraging, and may be resolved shortly, there is no certainty
that any agreement will be reached. Should negotiations prove
successful, Management will determine the optimal strategic path
going forward which would include the completion of a feasibility
study.
Buffalo Hills-JV
Discussions are ongoing with Canterra Minerals Corporation
("Canterra") to determine possible future work programs. More
detailed updates on activities at the Buffalo Hills-JV will be
provided as they become available.
About Star Diamond Corporation
Star Diamond is a Canadian based
corporation engaged in the acquisition, exploration and development
of mineral properties. Shares of the Corporation trade on the TSX
Exchange under the trading symbol "DIAM". Star Diamond holds, through a joint venture
arrangement with Rio Tinto Canada (a wholly-owned subsidiary of Rio
Tinto plc), a 25% interest in certain Fort à la Corne kimberlites
(including the Star – Orion South Diamond Project). These
properties are located in central Saskatchewan, Canada, in close proximity to
established infrastructure, including paved highways and the
electrical power grid, which provide significant advantages for
future mine development.
The Company also holds a 50% interest in the exploration and
evaluation properties and assets of the Buffalo Hills-JV located in
north-central Alberta, Canada.
Canterra holds the remaining 50% interest and is the operator of
the Buffalo Hills-JV.
Caution Regarding Forward-looking Statements
This press release contains "forward-looking statements" and/or
"forward-looking information" (collectively, "forward-looking
statements") within the meaning of applicable securities
legislation. All statements, other than statements of historical
fact, are forward-looking statements. Forward-looking statements in
this press release include but are not limited to: statements
regarding Rio Tinto Canada's future plans and intentions including
with respect to the Project; Rio Tinto Canada's review of
alternatives with respect to the Project and the terms of any
possible future agreement that may be reached between Star Diamond and Rio Tinto Canada regarding the
Project.
These forward-looking statements are based on Star Diamond's current beliefs as well as
assumptions made by and information currently available to
Star Diamond and involve inherent
risks and uncertainties, both general and specific. Risks exist
that forward-looking statements will not be achieved due to a
number of factors including, but not limited to, developments in
world diamond markets, changes in diamond prices, risks relating to
fluctuations in the Canadian dollar and other currencies relative
to the US dollar, the impact of changes in the laws and regulations
regulating mining exploration and development, judicial or
regulatory judgments and legal proceedings, operational and
infrastructure risks, the ability to finance and the additional
risks described in Star Diamond's
most recently filed Annual Information Form, annual and interim
MD&A.
SOURCE Star Diamond Corporation