Minutes Clifton Mining Company "Annual Meeting Voting Results"

Clifton faces negative cash flows while financing uncertainty affects a contemplated Clifton Shear Zones development agreement.

Rhea-AI Summary

Clifton Mining Company (CFTN) shareholders approved director elections and a change to majority voting at the September 24, 2026 annual meeting. Jessica Marr, Jerry L Wilhelm and Clifford L. Reid were elected to terms expiring in 2029. Shareholders also ratified Sadler, Gibb & Associates as auditor and approved the 2026 Stock Option Plan. The bylaw change from plurality to majority voting received approximately 91% support.

Clifton's position in Desert Hawk was reduced to around 9% in Desert Hawk's refinancing. Clifton is considering another agreement to develop the Clifton Shear Zones, but project financing remains uncertain. Clifton identified negative cash flows and a need to explore additional cash-flow opportunities. American Biotech Labs, owned by American Silver, in which Clifton is a member, expects 2026 product sales to exceed last year's.

2 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Clifton is considering another agreement with Desert Hawk to develop the Clifton Shear Zones.
• Minor point. Forward-looking: it has not happened yet and may not happen.Clifton plans to explore other opportunities for additional cash flows.

Negative

• Moderate pointClifton identified negative cash flows that it needs to address.
• Moderate pointClifton's position in Desert Hawk was reduced to around 9% in Desert Hawk's refinancing.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Contemplated Clifton Shear Zones development faces uncertainty over Desert Hawk's ability to obtain financing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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AMERICAN FORK, Utah., Oct. 6, 2026 /PRNewswire/ -- Clifton Mining Company held its annual meeting at 12:30 pm on September 24, 2026 at the Alpine Art Center in Alpine, Utah.  The Company reports that shareholders approved the election of each of the three (3) director nominees. Each director nominee received affirmative votes calculated from a quorum of approximately 65% of the shares voted, excluding abstentions and broker non-votes, as follows (all percentages are rounded):

Director Nominee (Term)             _______	For
Jessica Marr (Term expiring 2029)	54 %
Jerry L Wilhelm (Term expiring 2029)	52 %
Clifford L. Reid (Term expiring 2029)	53 %

Shareholders also ratified the appointment of Sadler, Gibb & Associates, LLC as the Company's independent auditors, with affirmative votes from approximately 81% of the shares voted. The Board of Directors had recommended a vote for this proposal.

Shareholders also approved the Clifton Mining Company 2026 Stock Option Plan, with affirmative votes from approximately 62% of the shares voted. The Board of Directors had recommended a vote for this proposal.

Shareholders also approved amending the Company's Bylaws on the election of directors from "plurality" of the votes to a "majority" of the votes with affirmative votes from approximately 91% of the shares voted. The Board of Directors had recommended a vote for this proposal.

Two reports were given at the meeting, the first one was given by Paul Schwitzer, Vice President of Marketing and Sales for American Biotech Labs, LLC a wholly owned American Silver, LLC entity, of which the Company is a Member.  Mr. Schwitzer reported that product sales for 2026 are expected to be significantly more than last year and could potentially be the company's best year so far.  He also reported that Amazon sales have also continued to grow significantly over the past years and could potentially hit close to $5 million in sales this year.  The company has also seen very significant growth in the medical supply market.

The second report was given by Michael Marr, who provided an update on Desert Hawk Gold Corp. and that they were in the process of trying to re-finance some of their equipment.  Also, they have brought in a guy with 20 years of experience in running a crusher and that it was going much better but still trying to crush more.  They have approximately 20 people working onsite but still lack capital.   Mr. Marr then reported that Clifton Mining Company had been reduced in Desert Hawk's refinancing to around 9%.  Also, the Company was looking at another Agreement with Desert Hawk on the development of the Clifton Shear Zones, but he felt like there were issues on whether or not Desert Hawk could actually get the financing to do the project, along with other internal issues they were dealing with.  He also mentioned that Clifton has to work on its negative cash flows, have board meetings more often, and look into other opportunities to bring in additional cash flows.

The meeting adjourned around 2:00 pm.

Clifton trades on the OTC Markets under the symbol: "CFTN".  

Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.

View original content:https://www.prnewswire.com/news-releases/minutes-clifton-mining-company-annual-meeting-voting-results-302899216.html

SOURCE Clifton Mining Company

FAQ

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What did Clifton Mining shareholders approve at the September 24, 2026 annual meeting?

Shareholders approved three director nominees, the auditor appointment, the 2026 Stock Option Plan and majority voting for director elections. Jessica Marr received 54% support, Jerry L Wilhelm 52% and Clifford L. Reid 53%, with percentages rounded. The auditor appointment received approximately 81% support, the option plan approximately 62%, and the bylaw amendment approximately 91%.