Loncor Announces Election of Directors
26 Juin 2021 - 12:57AM
Loncor Gold Inc. ("
Loncor" or the
"
Company") (TSX: "LN"; OTCQX: "LONCF”; FSE:
"LO51") announces that the five nominees listed in the Company’s
management information circular for the annual and special meeting
of shareholders of the Company (the "
Meeting")
held on Friday, June 25, 2021 were elected at the Meeting as
directors of Loncor. The vote was conducted by a show of hands. The
detailed results of the votes received by proxy are set out below:
|
|
Votes by Proxy |
Name |
Votes For |
% Votes For |
Votes Withheld |
% Votes Withheld |
Zhengquan (Philip) Chen |
31,697,489 |
99.987 |
% |
4,250 |
|
0.013 |
% |
Peter N. Cowley |
31,549,089 |
99.518 |
% |
152,650 |
|
0.482 |
% |
Arnold T. Kondrat |
31,549,088 |
99.518 |
% |
152,651 |
|
0.482 |
% |
Richard J. Lachcik |
31,697,488 |
99.987 |
% |
4,251 |
|
0.013 |
% |
William R. Wilson |
31,575,489 |
99.602 |
% |
126,250 |
|
0.398 |
% |
Voting results on all matters voted on at the
Meeting have been filed on SEDAR at www.sedar.com.
About Loncor Gold Inc. Loncor
is a Canadian gold exploration company focussed on the Ngayu
Greenstone Gold Belt in the northeast of the Democratic Republic of
the Congo (the “DRC”). The Loncor team has over
two decades of experience of operating in the DRC. Loncor’s growing
resource base in the Ngayu Belt currently comprises the Imbo and
Makapela Projects. At the Imbo Project, the Adumbi deposit and two
neighbouring deposits hold an inferred mineral resource of 3.466
million ounces of gold (42.996 million tonnes grading 2.51 g/t Au),
with 84.68% of this resource being attributable to Loncor. Loncor
is currently carrying out a drilling program at the Adumbi deposit
with the objective of outlining additional mineral resources. The
Makapela Project (which is 100%-owned by Loncor and is located
approximately 50 kilometres from the Imbo Project) has an indicated
mineral resource of 614,200 ounces of gold (2.20 million tonnes
grading 8.66 g/t Au) and an inferred mineral resource of 549,600
ounces of gold (3.22 million tonnes grading 5.30 g/t Au).
Additional information with respect to Loncor
and its projects can be found on Loncor's website at
www.loncor.com
Qualified PersonPeter N. Cowley, who is
President of Loncor and a "qualified person" as such term is
defined in National Instrument 43-101, has reviewed and approved
the technical information in this press release.
Technical ReportsAdditional information with
respect to the Company’s Imbo Project (which includes the Adumbi
deposit) is contained in the technical report of Minecon Resources
and Services Limited dated April 27, 2021 and entitled "Updated
Resource Statement and Independent National Instrument 43-101
Technical Report, Imbo Project, Ituri Province, Democratic Republic
of the Congo". A copy of the said report can be obtained from SEDAR
at www.sedar.com and EDGAR at www.sec.gov.
Additional information with respect to the
Company’s Makapela Project, and certain other properties of the
Company in the Ngayu gold belt, is contained in the technical
report of Venmyn Rand (Pty) Ltd dated May 29, 2012 and entitled
"Updated National Instrument 43-101 Independent Technical Report on
the Ngayu Gold Project, Orientale Province, Democratic Republic of
the Congo". A copy of the said report can be obtained from SEDAR at
www.sedar.com and EDGAR at www.sec.gov.
Cautionary Note to U.S.
InvestorsThe United States Securities and Exchange
Commission (the "SEC") permits U.S. mining
companies, in their filings with the SEC, to disclose only those
mineral deposits that a company can economically and legally
extract or produce. Certain terms are used by the Company, such as
"Indicated" and "Inferred" "Resources", that the SEC guidelines
strictly prohibit U.S. registered companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely
the disclosure in the Company's Form 20-F annual report, File No.
001- 35124, which may be secured from the Company, or from the
SEC's website at http://www.sec.gov/edgar.shtml.
Cautionary Note Concerning
Forward-Looking InformationThis press release contains
forward-looking information. All statements, other than statements
of historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future (including, without limitation, statements regarding
the Company’s drill program at Adumbi, mineral resource estimates,
potential mineral resource increases, potential mineralization,
drill targets, exploration results, future drilling and other
future exploration, and future development) are forward-looking
information. This forward-looking information reflects the current
expectations or beliefs of the Company based on information
currently available to the Company. Forward-looking information is
subject to a number of risks and uncertainties that may cause the
actual results of the Company to differ materially from those
discussed in the forward-looking information, and even if such
actual results are realized or substantially realized, there can be
no assurance that they will have the expected consequences to, or
effects on the Company. Factors that could cause actual results or
events to differ materially from current expectations include,
among other things, the possibility that future exploration
(including drilling) or development results will not be consistent
with the Company's expectations, the possibility that drilling
programs will be delayed, activities of the Company may be
adversely impacted by the continued spread of the widespread
outbreak of respiratory illness caused by a novel strain of the
coronavirus (“COVID-19”), including the ability of the Company to
secure additional financing, risks related to the exploration stage
of the Company's properties, uncertainties relating to the
availability and costs of financing needed in the future, failure
to establish estimated mineral resources (the Company’s mineral
resource figures are estimates and no assurances can be given that
the indicated levels of gold will be produced), changes in world
gold markets or equity markets, political developments in the DRC,
gold recoveries being less than those indicated by the
metallurgical testwork carried out to date (there can be no
assurance that gold recoveries in small scale laboratory tests will
be duplicated in large tests under on-site conditions or during
production), fluctuations in currency exchange rates, inflation,
changes to regulations affecting the Company's activities, delays
in obtaining or failure to obtain required project approvals, the
uncertainties involved in interpreting drilling results and other
geological data and the other risks disclosed under the heading
"Risk Factors" and elsewhere in the Company's annual report on Form
20-F dated March 31, 2021 filed on SEDAR at www.sedar.com and EDGAR
at www.sec.gov. Forward-looking information speaks only as of the
date on which it is provided and, except as may be required by
applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
For further information, please visit our
website at www.loncor.com or contact:
Arnold Kondrat, CEO, Toronto, Tel: (416)
361-2510.
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