Galore Resources Provides Default Status Report Pursuant to National Policy 12-203, Announces Change of Auditor and Sets Date FOR 2024 Annual General Meeting
GRI: TSX-V
GALOF: OTCQB
Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
FOR IMMEDIATE RELEASE August 8, 2024
GALORE RESOURCES PROVIDES DEFAULT STATUS REPORT PURSUANT TO
NATIONAL POLICY 12-203, ANNOUNCES CHANGE OF AUDITOR AND SETS DATE FOR
2024 ANNUAL GENERAL MEETING
Vancouver, B.C., Galore Resources Inc. (TSX-V: GRI) (OTCQB: GALOF) (“Galore” or the
“Company”) announces a status report with regards to the Company’s news release dated July 31, 2024
disclosing the Company’s application for a Management Cease Trade Order (“ MCTO”), which was
issued by the BC Securities Commission on July 30, 2023. The Company confirms that:
1. There has been no material change in the information contained in the default announcement
other than the formal engagement of Davidson & Company, Chartered Accountants as the
Company’s new auditor in place of the Company’s former auditors, DeVisser Gray LLP, as
disclosed in this report;
2. There is no further anticipated default of a financial statement filing requirement subsequent to
that disclosed in the default announcement and the updated announcement herein;
3. The Company expects to file its fiscal year-end Financial Statements, Management Discussion
and Analysis and related CEO / CFO certifications (the “Filings”) for the year ended March 31,
2024, on or before September 27, 2024; and
4. There is no other material information concerning the affairs of the reporting issuer that has not
been generally disclosed.
The MCTO was requested by the Company as it needed time to secure the new replacement auditor to
complete the Company’s Filings. As a result, the Company has also been delayed in meeting the deadline
for holding its 2024 Annual and Special General Meeting (“ASGM”) within the time frames dictated by
regulatory policies, since information from the Filings is required for completion of the Company’s
Management Information Circular materials to be circulated for the ASGM.
Effective August 7, 2024, Davidson & Company, Chartered Accountants has been appointed the
Company’s new auditor in place of the Company’s former auditors, DeVisser Gray LLP. The former
auditor and new auditor confirm that there are no disagreements or unresolved issues. The resignation
of DeVisser Gray LLP and the recommendation to appoint Davidson & Company has been approved by
the Board of Directors of the Company.
The Company’s 2024 ASGM has been set for Friday, November 15, 2024 at 10:30am Pacific Standard
Time (“PST”) and shareholders of the Company will be asked to approve the change in auditor of the
Company at that meeting.
On behalf of the Board of Directors
Michael McMillan,
President and Chief Executive Officer
P a g e | 2
Mailing Address: 2701 Little Elm Parkway, Suite 100 #512 | Little Elm, Texas, USA | 75068
Tel: (210) 860-9212 | Fax: (604) 648-8894 | www.galoreresources.com
For Further Information about Galore Resources,
Please visit the Company's website at www.galoreresources.com or contact the Company's Chief
Financial Officer and Vice -President of Corporate Communications, Drew McMillan, by telephone
(210-325-7971) or e-mail ([email protected]).
About Galore Resources
Galore Resources is a mineral exploration and development company whose focus is to make and
develop significant mineral discoveries, which are supported by a sustainable business model. Our goal
is to discover a world -class gold deposit in Mexico. Our flagship project is located in the heart of the
Concepcion del Oro Mining District, the Dos Santos Project , which covers two known historic gold
zones, is on trend with Newmont’s Penasquito Mine, and based on past drilling, trenching, and an
airborne geophysical survey, has the potential to host several bulk tonnage gold deposits.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news release includes “forward -looking
statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news
release, other than statements of historical fact, are forward -looking sta tements. Forward -looking statements include predictions,
projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "pla n", "estimate",
"expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could " or "might"
occur or be achieved and other similar expressions and includes the negatives thereof. Forward-looking statements in this news release
include, but are not limited to, statements with respect to the expectations of management regarding the Company’s ability to complete and
file its financial statements in a timely manner and obtain approval of the Securities Commission to lift the Management Cease Trade
Order. Additionally, the Company’s ability to continue to raise funds in order to recommence ore extraction activities at its Duraznillo
project, conduct drill programs at its Mexican mineral properties and the timing thereof, the prospective deposits, targets and mineralization
at the properties and the anticipated receipt and timing of necessary governmental or third-party approvals and permits.
Such forward-looking information reflects management’s current beliefs and is based on a number of estimates and assumptions made by
and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied
by such forward-looking information. Readers are cautioned that such forward-looking information is neither a promise nor guarantee, and
is subject to known and unknown risks an d uncertainties including, but not limited to, delays in obtaining governmental or third party
approvals and permits, actual results of exploration activities, unanticipated geologic formations, structures and characteri stics,
environmental risks, future prices of base and other metals, operating risks, accidents, labor issues, and other risks in the mining industry
as well as general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets and
lack of available capital. All forward-looking information contained in this news release is qualified by these cautionary statements and
those in our continuous disclosure filings available on SEDAR + at www.sedarplus.ca. For OTCQB quotes and filings, please visit
www.otcmarkets.com. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any
intention or obligation to update or revise any forward -looking information, whether as a result of new information, future events or
otherwise, except as required by law.