VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/12/13 -- Archean Star Resources Inc. (the "Company") (TSX VENTURE: ASP) is pleased to announce that the Company's Board of Directors has adopted an Advance Notice Policy (the "Policy") in order to provide shareholders, directors and management of the Company with a fair and transparent procedure for nominating directors and to establish an orderly and efficient process for electing directors at annual or, if applicable, special meetings of the Company.
Among other things, the Policy fixes a deadline by which holders of record of common shares of the Company must submit director nominations to the Corporate Secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Corporate Secretary of the Company for an effective nomination to occur. Subject only to the Business Corporations Act (British Columbia), only persons who are nominated in accordance with the provisions of the Policy shall be eligible for election as directors of the Company.
In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement. In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The Policy is in full force and effect as of June 28, 2013. In accordance with the terms of the Policy, the Policy will be put to shareholders of the Company for approval at the next annual meeting which is scheduled for August 30, 2013, and if the policy is not confirmed at the annual meeting by ordinary resolution of shareholders, the Policy will terminate and be of no further force and effect following the termination of the annual meeting. A copy of the Policy will be available on SEDAR at www.sedar.com.
Archean Star Resources Inc., is a junior exploration company listed on the TSX Venture Exchange that is creating shareholder value by earning, through its wholly owned subsidiary, Archean Star Resources Australia Pty Ltd, 100% of Teck Australia Pty Ltd.'s ("Teck") interest, subject to a 75% back in right in such interest to Teck, in Chalice Gold Mines Limited's Gnaweeda Gold Project in Western Australia. The Company is also earning an 80% interest in AMCOR's Monitor Copper, Gold and Silver project in the Coeur D'Alene Mining District in Idaho.
This News Release has been prepared on behalf of the Archean Star Resources Inc. Board of Directors, which accepts full responsibility for its contents.
ON BEHALF OF THE BOARD
Graeme O'Neill, President
Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), has reviewed, nor do they accept responsibility for, the adequacy or accuracy of this news release
Archean Star Resources Inc.
(888) 282-7763 (FAX)
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