VANCOUVER, June 14, 2012 /PRNewswire/ - Robert L. Card, President of Arrowstar Resources Ltd., ("Arrowstar" or the "Company") (TSXV: AWS), wishes to release the results of its Annual General Meeting of Shareholders (the "Meeting") held on June 13, 2012. At the Meeting, shareholders approved all resolutions put before them by management, including the election of all director nominees, the appointment of the auditor and the re-approval of its share option plan.
Results of the Meeting
The shareholders elected Robert L. Card, Andrew K. Jarvis, Peter Arendt and Phillip Thomas, as Directors of the Company for the ensuing year.
The shareholders re-appointed Davidson & Company LLP, chartered accountants, as the Company's auditor for the ensuing year, and voted in favour of the resolution pertaining to the approval of the Company's share option plan.
Dr. Zigurts Strauts declined to stand for re-election to the Board because of the demands of his medical practice and other business interests. The Board expressed their thanks to Dr. Strauts for his wise counsel and assistance during his tenure on the Board.
Following the Meeting, a report was received on the visit to the Company's Alaska Port Snettisham iron ore project by Phil Thomas, VP of Exploration. Mr. Thomas reported on the discovery of extensive magnetite over the major part of the property. Samples have been submitted for assay and the next phase of exploration is being planned. The Company is very optimistic for the development of the Alaska property.
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.
"Robert L. Card"
Robert L. Card
"Neither 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."
Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning AWS's planned exploration programs and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although AWS believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" and elsewhere in the corporation's periodic filings with Canadian securities regulators.
SOURCE Arrowstar Resources Ltd.