Trading Symbol: FTR-TSX:V
VANCOUVER, Aug. 14, 2013 /CNW/ - Firesteel Resources Inc. ("Firesteel" or the "Company") (TSX-V:FTR) today announced that at the annual and special meeting of shareholders held on August 13, 2013 (the "AGM"), the shareholders voted 86% in favour of the proposed option and joint venture transaction with respect to the Company's ROK Coyote property between the Company and OZ Exploration Pty Ltd., a wholly owned subsidiary of OZ Minerals Limited, on the material terms as described in the Company's information circular dated July 16, 2013. All other proposed matters were also passed by a majority of votes at the AGM.
Michael Hepworth, President and CEO of Firesteel said; "This is an important vote by our shareholders, as it clearly gives us a mandate to push forward with our new strategic direction for the company. Firesteel has four main strategic imperatives for the next 12 months: 1. Strengthen the board, 2. Acquire additional funding, 3. Acquire one or two additional quality properties and 4. Get our story out to the market. "
"Right now we have two highly prospective properties in one of the hottest exploration areas in Canada. The properties are optioned to two separate companies with strong and experienced management and the ability to conduct the necessary exploration to prove up the resources on them."
"Going forward the kind of properties we are looking to acquire are primarily high quality copper porphyries or precious metals properties where some exploration has been conducted but for a variety of reasons the companies holding them are unable to move further exploration forward."
Firesteel also announces that the Board of Directors has, subject to TSX Venture Exchange acceptance, granted options to an officer to purchase 150,000 common shares of the Company. The options were issued at an exercise price of $0.10 per share for a five year term. The Company had, immediately prior to this grant, 3,385,000 outstanding stock options.
Firesteel is a junior mineral exploration company focused on the exploration and development of quality precious and base metal prospects in the resource rich Stikine Arch area of British Columbia and in the NWT and Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS OF
FIRESTEEL RESOURCES INC.
Michael Hepworth
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Advisory Regarding Forward Looking Statements
This news release contains forward-looking statements. Users of forward-looking statements are cautioned that actual results may vary from forward-looking statements contained herein. Forward-looking statements include, but are not limited to: expectations, opinions, forecasts, projections and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". While the Company has based these forward-looking statements on its expectations about future events as at the date those statements were prepared, the statements are not a guarantee of the Company's future performance.
The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement and are made as of the date of this new release. Unless otherwise required by applicable securities laws, the Company does not intend nor does it undertake any obligation to update or review any forward-looking statements for the Significant Matters to reflect subsequent information, events, results or circumstances or otherwise.
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SOURCE Firesteel Resources Inc.
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