TAKARA REPORTS ON THE RESULTS OF ITS ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
Toronto, Ontario ? July 20, 2012 ? Takara Resources Inc. (?Takara? or the ?Company?) announces that at the Annual and Special Meeting of Shareholders held on June 29, 2012, the shareholders approved all resolutions that were put before them by management, including the election of all director nominees, the appointment of the auditor, the approval of the stock option plan, and the approval for up to a 5:1 share consolidation.
Election of Directors
The shareholders elected Messrs., Steve McIntyre, James Fairbairn, Chris Irwin, Suresh Narine, John Cullen and Ms. Jennifer Boyle to serve as directors of the Company until the next annual meeting of the shareholders.
Appointment of Auditors
The shareholders re-appointed MSCM, Chartered Accountants as the Company's auditor and authorized directors to fix the auditor's remuneration.
Approval of the Stock Option Plan
The shareholders voted in favor of the resolution pertaining to the approval of Company?s 2011 stock option plan.
Approval of the Share Consolidation
The shareholders voted in favor of the special resolution pertaining to the approval to alter Takara?s issued share capital by consolidating its issued common shares on the basis of up to five pre-consolidation shares for one post-consolidation share; such ratio to be determined by the directors.
About Takara
Takara Resources Inc. is a Canadian based gold company focused on exploring and developing its Guyana gold assets in the Guiana Shield that are held within a wholly-owned subsidiary, StrataGold Guyana Inc., namely: (i) the Tassawini Gold Project (100% interest); and (ii) the Arakaka Project (100% interest).
The Tassawini Gold Project hosts a National Instrument ("NI") 43-101 compliant mineral resource estimate (disclosed in a press release dated March 18, 2010) consisting of 437,000 ounces gold in an indicated resource of 10,799,000 tonnes having an average grade of 1.3 g/t, and 62,000 ounces gold in an inferred resource of 1,926,000 tonnes having an average grade of 1.0 g/t., for a total resource of approximately half a million ounces gold.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B.
President & Chief Executive Officer
Takara Resources Inc.
(647) 430.0966 (office)
(416) 904.2714 (cell)
Statement Regarding Forward Looking Information
Certain information contained in this news release, including any information relating to the proposed transaction and Takara?s future financial or operating performance may be deemed ?forward-looking?. These statements relate to future events or future performance and reflect Takara?s expectations regarding the transaction, and the future growth, results of exploration, business prospects and opportunities of Takara. These forward-looking statements are subject to a variety of risks and uncertainties that are identified and disclosed. Although Takara believes that the forward-looking information contained in this news release are based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Takara expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.