KMT Komet Resources Inc

QUEBEC CITY, QUEBEC--(Marketwired - Jun 4, 2014) - Komet Resources Inc. (« Komet ») (TSX-VENTURE:KMT) is pleased to announce the results of its annual general meeting of shareholders that took place on May 22, 2014 (the "Meeting"). For reference purposes, a total of 43.8 percent of Komet's issued and outstanding common shares (representing 14,822,000 common shares) were represented at the Meeting. Komet shareholders, present at the Meeting or through proxy, voted unanimously in favor of the following: i) the financial statements for the fiscal year ending September 30, 2013 and its related auditor's report; ii) the reappointment of auditors Brunet Roy Dubé, CPA, LLP, until the next annual general meeting and the authorisation by the Board of Directors to fix the auditor's remuneration, and iii) the appointment of Robert Wares, André Gagné et Marcel Robillard as directors. Finally, Komet shareholders also approved with 96.52 percent of the vote the appointment of Pierre Labrecque, Léo Patry et Michel Lebeuf Jr. as directors.

New committees

At a meeting prior to the annual general meeting, Komet's directors created three internal committees, which are i) a Governance Committee comprising Michel Lebeuf Jr. acting as the president, as well as Roby Bégin et Léo Patry, ii) a Technical Committee chaired by Robert Wares and supported by Marcel Robillard and André Gagné, and iii) an Audit Committee chaired by Pierre Labrecque assisted by Léo Patry and Roby Bégin.

Issuance of stock options

Komet has a Stock Option Plan under which the Board of Directors issued 3.1 million options to purchase common shares at an exercise price of $0.475, among which 2.3 million have been granted to the Directors.

Resignation of Mr. Pierre Labrecque and appointment of Mr. Roby Bégin as a substitute.

For good governance reasons, Mr. Pierre Labrecque submitted his resignation as director but keeps his position of Chief Financial Officer (CFO). The Board of Directors then proceeded with the appointment of Mr. Roby Bégin as director until the next annual general meeting of Komet shareholders. Mr. Bégin is a Komet shareholder and a successful businessman from the Beauce region of Québec, and the Board will no doubt benefit from his managerial skills.

More information about the corporation is available at: www.kometgold.com

Forward-Looking Statements

Neither TSX Venture Exchange nor the regulatory service provider (as the term is defined in TSX Venture Exchange's policies) accepts any liability of any kind as to the authenticity or accuracy of this release. This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Komet Inc.'s ("Komet") control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavorable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Komet. The forward-looking information is based on the estimates and opinions of Komet's management at the time of the publication of the information and Komet does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.

Outstanding shares : 40,255,047

Investors relations and information:Andre Gagne, President and CEO581-300-1666a.gagne@kometgold.comSkype: andregagne11

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