Millstream Reports Resolutions Passed After Shareholders' AGM
January 13 2011 - 9:00AM
Marketwired
Millstream Mines Ltd. (TSX VENTURE: MLM)(FRANKFURT: NJD) is pleased
to report that at its Shareholders' Annual General Meeting (AGM),
held January 7, 2011, the company's shareholders re-elected the
previous board members to form the current Board of Directors.
Shortly thereafter on the same day, this current Board of Directors
passed the following resolutions:
1. That the past officers be re-appointed to their previous offices and
rolls;
2. That a committee be formed consisting of directors (Robert Chase, John
A. Eversley, Alex Doulis) with the task to deliver to the Board
recommendations directed to unlock shareholders' value with respect to
the Tamarack Gold Property in Montana, USA; and
3. That the Company grant incentive common share options to the six
Directors, each director being allocated 150,000 options having a strike
price of $0.06 and expiring on Dec. 15, 2015.
This above option issuance is subject to TSX Venture Exchange
approval.
About Millstream Mines Ltd.:
Millstream Mines Ltd. is a Canadian-based mineral exploration
company whose principle objective is to enhance and develop known
mineral properties to production potential. The Company has
projects in the Province of Ontario, Canada and in the State of
Montana, USA. The past producing Potter Mine Property is host to
copper-zinc-cobalt "stacked" mineralized zones located in the
highly prolific Abitibi Greenstone Belt and more specifically in
the Kidd-Munro Assemblage near the town of Matheson in north
eastern Ontario. A recently published initial NI 43-101 compliant
resource estimate on the Potter revealed an indicated resource of
3,028,767 tonnes at 1.45% copper, 1.19% zinc, 389.7 ppm cobalt,
11.1 ppm silver, and 127.5 ppb gold along with an inferred resource
of 2,071,101 tonnes at 1.08 % copper, 1.05 % zinc, 301.4 ppm
cobalt, 8.7 ppm silver, and 81.7 ppb gold. The Tamarack Gold
Property, a high grade former gold producer in the Tobacco Root
Mountains of south western Montana, is in an advanced stage of
underground exploration and development operating under the Small
Mines Exclusion Act of the State of Montana.
73,851,707 SHARES ISSUED
Jan. 12, '11 Close: $0.07
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Millstream seeks safe harbour with regard to forward looking
statements.
Contacts: Millstream Mines Ltd. Mr. Ernest Harrison, EM Chairman
and CEO 705-474-7282 705-474-5491 (FAX) Millstream Mines Ltd. Mr.
Marty Martinello, B.A. Executive V.P. 705-474-7282 705-474-5491
(FAX) Millstream Mines Ltd. Mr. Robert Chase, CFA President and CFO
416-368-9595 416-368-6827 (FAX) info@millstreammines.com
www.millstreammines.com
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