Subject: ANNUAL MEETINGS
Cardinal Announces Results from Annual General Meeting
TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Cardinal Resources Limited (ASX / TSX: CDV) ("Cardinal" or "the Company") is pleased to announce the results of the Company's Annual General Meeting held today in Australia (the "Meeting"). At the Meeting, proxies representing 203,582,834 shares were received, representing approximately 38% of the shares eligible for voting at the Meeting as of the record date. All matters presented for approval at the Meeting by management of the Company were duly authorized and approved. The resolutions approved included the advisory resolution approving the Remuneration Report, re-election of management nominees to the board of directors of the Company ("Board") that were due for election and the ratification of the Company's prior issue of shares.
Detailed voting results regarding the election of directors are as follows:
| Name | Outcome of Vote | Shares Voted For | Votes For % | Shares Withheld | Votes Withheld % |
| Michele Muscillo | Elected | 166,667,494 | 81.99 | 36,618,853 | 18.01 |
| Malik Easah | Elected | 166,398,494 | 81.96 | 36,617,853 | 18.04 |
In accordance with ASX Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act 2001 (Cth), the following information is provided to the Australian Securities Exchange in relation to resolutions passed by members of Cardinal.
| Resolution | Decided by a show of hands (S) or poll (P) | Total number of proxy votes exercisable by proxies validly appointed | Total number of proxy votes in respect of which the appointments specified that: - | |||
| The proxy is to vote for the resolution | The proxy is to vote against the resolution | The proxy is to abstain/excluded on the resolution | The proxy may vote at the proxy's discretion | |||
| 1 | P | 199,793,895 | 161,946,305 | 36,619,803 | 1,227,787 | 0 |
| 2 | P | 203,582,834 | 166,667,494 | 36,618,853 | 296,487 | 0 |
| 3 | P | 203,312,834 | 166,398,494 | 36,617,853 | 296,487 | 0 |
| 4 | P | 135,092,932 | 96,588,052 | 37,754,274 | 750,606 | 0 |
Note: Resolution numbers in this table refer to the resolution numbers in the Notice of Annual General Meeting dated October 16, 2020.
Further details on the matters voted upon at the Meeting can be found in the Company's Meeting materials, including the management information circular dated October 16, 2020, which are accessible under the Company's SEDAR profile at www.sedar.com. The Company has also filed a report of voting results on all resolutions voted on at the Meeting on SEDAR.
ABOUT CARDINAL
Cardinal Resources Limited (ASX/TSX: CDV) is a West African gold?focused exploration and development Company that holds interests in tenements within Ghana, West Africa.
The Company is focused on the development of the Namdini Gold Project and released its Feasibility Study on 28 October 2019.
Cardinal confirms that it is not aware of any new information or data that materially affects the information included in its announcement of the Ore Reserve of April 3, 2019. All material assumptions and technical parameters underpinning this estimate continue to apply and have not materially changed.
*The Namdini Project has a published gold Ore Reserve of 5.1 Moz (138.6 Mt @ 1.13 g/t Au; 0.5 g/t cut-off), inclusive of 0.4 Moz Proved (7.4 Mt @ 1.31 g/t Au; 0.5 g/t cut-off) and 4.7 Moz Probable (131.2 Mt @ 1.12 g/t Au; 0.5 g/t cut-off).
Authorised for release by the Board of Cardinal Resources Limited.
For further information contact:
Sarah Shipway
Company Secretary
Cardinal Resources Limited
P: +61 8 6558 0573
E: [email protected]
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