Brionor Announces Results of Annual Meeting of Shareholders and Update of Its Acquisition of Atala Resources

TORONTO, ONTARIO–(Marketwired – March 31, 2017) – Brionor Resources Inc. (“Brionor” or the “Company”) (TSX VENTURE:BNR) is pleased to announce the results of its annual and special meeting of shareholders (the “Meeting”) held on March 30, 2017.

1. A total of 17,462,172 common shares (“Common Shares”) were represented at the Meeting and all matters presented for approval at the Meeting were duly authorized and approved, as follows:
  1. election of all management nominees to the board of directors of the Company, as well as one additional shareholder nominee;
  2. appointment of parker simone LLP as auditors of the Company for the ensuing year and authorization of the directors to fix their remuneration; and
  3. approval of the Company’s stock option plan.
  4. approval of the special resolution to change the name of the Company from “Brionor Resources Inc.” to “Magna Terra Minerals Inc.”.
  5. approval of the special resolution to consider the consolidation of the company’s common shares up to a maximum of 1 for 4.
  6. approval of the special resolution to relocate the Company’s head office.
2. Detailed voting results regarding the election of directors are as follows:
Name Voted For
Voted For
Lewis Lawrick 17,144,467 99.33 117,750 0.67
Michael J. Byron 17,146,467 99.34 115,750 0.66
Robert Ayotte 17,145,167 99.33 116,750 0.67
Richard Bedell – shareholder nominee 17,462,172 100.00 0.00 0.00

Further details on the above matters, including the report of voting results thereon, are set out in the Company’s meeting materials, which are available on SEDAR under the issuer profile of the Company at

Name Change to Magna Terra Minerals Inc.

At the Meeting, shareholders of the Company representing approximately 98.33% of the votes cast on the matter overwhelmingly approved the special resolution to change the name of the Company from “Brionor Resources Inc.” to “Magna Terra Minerals Inc.”. The Company will adopt the name “Magna Terra Minerals Inc.” and formalize its re-branding initiatives in the near future, which reflects the evolution of the Company since the beginning of 2017, including the focus of its exploration initiatives in Santa Cruz Province, Argentina.

Nomination of Richard Bedell to the Board of Directors

The Company is very pleased to announce the addition of Richard Bedell to its Board of Directors. Currently Co-founder, Director, and Executive Vice President of Renaissance Gold Inc., a gold exploration company, listed on the TSX Venture Exchange (the “Exchange”). Richard is also Chairman of the Board of TerraCore Inc., an international drill core scanning technology company. Richard has almost 40 years international exploration experience including an adjunct Faculty position in Exploration Geophysics at The Mackay School of Earth Sciences and Engineering, University Nevada Reno. Prior to Renaissance Gold, Richard was previously with AuEx Ventures who did the successful preliminary exploration work on the Long Canyon Deposit in Nevada, subsequently acquired by Newmont Mining. Richard is a recognized expert in remote sensing and geo-spatial technologies and is a Registered Member of the Society for Mining, Metallurgy and Exploration, an internationally recognized professional geology certification. Richard is a graduate from the school of Natural Sciences & Mathematics at Hampshire College in Massachusetts with a B.A., and M.Sc. at the University of Toronto in Economic Geology, and a second M.Sc. from the University of London in Remote Sensing and GIS. Richard is a Fellow of the Society of Economic Geologists, a member of the Geological Society of America, the Geologic Remote Sensing Group, and a member of the Geological Society of Nevada.

Update on the Acquisition of Atala Resources Corp. and Concurrent Private Placement Financing

As per a Press Release (dated March 2, 2017), the Company has entered into a Definitive Share Purchase Agreement (the “Agreement”) dated March 1, 2017 to acquire all of the outstanding shares of Atala Resources Corporation (“Atala”), a private Ontario mining exploration company that holds a portfolio of exploration properties in Santa Cruz Province, Argentina . Concurrent with closing of the Agreement, the Company is undertaking a non-brokered Private Placement Financing (the “Financing”) for a maximum amount of $1 million. The Company has obtained conditional approval from the Exchange for both the acquisition of Atala and the Financing, and has now begun steps to obtain final approval of the Exchange for the acquisition of Atala. The Company expects to proceed with the closing of the acquisition and the Financing shortly.

About Brionor

Brionor is a junior mining exploration company with a portfolio of exploration projects in Québec, and a large, very prospective exploration project portfolio in the emerging precious metals Province of Santa Cruz, Argentina, pending closing of its acquisition of Atala Resources Corporation. Currently Brionor is well funded with approximately $2.7 million in cash and marketable securities.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure by the parties to complete the Agreement, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company’s expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in the Company’s public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

Brionor Resources Inc.
Lewis Lawrick
President & CEO
[email protected]