Takara Announces Results of 2015 Annual and Special Meeting
Suite 401, 1231 Barclay Street
Takara Resources Inc. Vancouver, BC V6E 1H5 Tel: 604-306-8854 / Toll Free: 888-909-4767 Fax: 604-259-0339 www.takararesources.com
TAKARA ANNOUNCES RESULTS OF 2015 ANNUAL AND SPECIAL MEETING
December 22, 2015 – Takara Resources Inc. (TSXV: TKK) (OTCPINK: GBBFF) (the “Company” or “Takara”) announces that the 2015 Annual and Special Meeting of Shareholders (the “Meeting”) was held on Friday, December 18, 2015 at which time all resolutions were approved with just over 97% of all votes in favour with 48.3% of eligible shares voting. The resolutions passed at the Meeting are listed below:
1. The following individuals were elected directors of the Company: Frank J. Basa, Jacques F. Monette, Dianne Tookenay and Robert Setter.
2. McGovern, Hurley, Cunningham LLP, Chartered Accountants, were re-appointed as auditors of the Company.
3. Adoption of the Company’s 10% rolling share option plan was ratified and approved.
4. The proposed change of name from Takara Resources Inc. to Castle Silver Resources Inc. was approved.
5. The change of registered and records office from the province of Ontario to British Columbia was approved.
The Board of Directors appointed the following officers of the Company for the ensuing year:
Frank J. Basa: President and Chief Executive Officer Thomas P. Devlin: Chief Financial Officer Linda Shewchuk: Secretary The change of name to Castle Silver Resources remains subject to approval by both the TSX Venture Exchange and Corporations Canada. The change of name was enacted to better reflect the future direction of the Company given the addition of the Castle Silver property as the primary asset in the Company.
The next steps for the Company are to raise capital, delineate a drill program for the property, complete the acquisition of the Beaver and Violet properties, explore the opportunity for a concurrent focus on the cobalt mineralization potential and create a new Castle Silver Resources website.
About Takara Resources
With the addition of the historic high-grade Castle Silver properties, the new focus will be on the exploration and development of the 22 million ounce past producing mine. Recent drill hole CA11- 08, returned 6,476 grams (188.8 ounces) of silver per tonne over 3.09 metres (10,138 feet) including 0.91% Cobalt over 0.45 metres (1.48 feet) as well as 1.44% Cobalt over 0.12 metres (0.39 feet) in hole CA11-09 (NI 43-101 Technical Report dated August 3, 2015 available on www.sedar.com). The Castle Silver camp features structures, water, year round road access and diesel generated power.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer For further information contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 Certain information contained in this news release, including any information relating to the proposed transaction and Takara’s future financial or operating performance may be deemed “forward- looking”. These statements relate to future events or future performance and reflect Takara’s expectations regarding the transaction, and the future growth, results of exploration, business prospects and opportunities of Takara. These forward-looking statements are subject to a variety of risks and uncertainties that are identified and disclosed. Although Takara believes that the forward- looking information contained in this news release are based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Takara expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws. The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.