Annual General and Special Meeting of Securityholders Report of Voting Results

Rhea-AI Summary

McFarlane Lake Mining held its annual general and special meeting on March 3, 2025. Key matters voted upon included:

• Election of Directors: All seven nominees were elected to hold office until the next annual meeting.
• Appointment of Auditors: McGovern Hurley LLP was appointed as auditors until the next annual meeting, with the board authorized to fix their remuneration.
• Stock Option Plan Resolution: Amendments to the stock option plan were approved as per Cboe Canada rules.
• Reapproval of Security-Based Compensation Arrangements: The reapproval of the security-based compensation arrangements, including all unallocated awards and entitlements, was approved.

Details are available in the management information circular dated January 22, 2025, on SEDAR+.

Positive

• All seven director nominees elected.
• Auditors McGovern Hurley LLP appointed.
• Stock Option Plan amendments approved.
• Reapproval of security-based compensation arrangements.

Negative

• None.

Pursuant to Section 11.3 of National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102")

TORONTO, ON / ACCESS Newswire / March 3, 2025 / This report is submitted for and on behalf of the Corporation pursuant to Section 11.3 of NI 51-102 and sets out the matters voted upon at the annual general and special meeting of the holders of common shares in the capital of the Corporation ("Shares") held on March 3, 2025 (the "Meeting"). Full details of this matter are set out in the management information circular of the Corporation dated January 22, 2025 (the "Circular") in respect of the Meeting, which is available under the Corporation's profile on SEDAR+ at www.sedarplus.ca. We hereby advise of the following attendance and voting results, as tabulated at the Meeting:

Total Shares issued and outstanding as at record date (January 16, 2025)			244,738,654
Total Shares represented at the Meeting in person and by proxyand entitled to vote at the Meeting			53,043,300
Percentage of total Shares represented at the Meeting (%)			21.67	%

1. Election of Directors

By a vote conducted by way of show of hands, the seven (7) nominees proposed as directors were elected to hold office until the next annual meeting of shareholders or until his or her successor is duly elected or appointed. The Shares were voted as follows:

		Votes For				% For				Votes Withheld				% Withheld				Votes Against				% Against
Amanda Fullerton			46,984,221				89.44	%			5,550,055				10.57	%			0				0	%
Fergus Kerr			52,484,221				99.91	%			50,055				0.095	%			0				0	%
Roger Emdin			52,484,221				99.91	%			50,055				0.095	%			0				0	%
Mark Trevisiol			52,534,221				100	%			55				0	%			0				0	%
Deborah Battiston			52,484,221				99.91	%			55,055				0.095	%			0				0	%
Perry N. Dellelce			49,984,221				95.15	%			2,550,055				4.85	%			0				0	%
Dario Zulich			52,484,221				99.91	%			50,055				0.095	%			0				0	%

2. Appointment of Auditors

By a vote conducted by way of show of hands, McGovern Hurley LLP, Chartered Professional Accountants, were appointed as auditors of the Corporation to hold office until the close of business of the next annual meeting of shareholders or until a successor is appointed and the board of directors of the Corporation was authorized to fix their remuneration (the "Auditor Resolution"). The Shares were voted as follows:

		Votes For				% For				Votes Withheld				% Withheld				Votes Against				% Against
Auditor Resolution			52,993,300				99.91	%			50,000				0.095				0				0	%

3. Approval of the Stock Option Plan Resolution

By a vote conducted by way of show of hands, the amendments to the stock option plan of the Corporation (the "Stock Option Plan Resolution"), as more particularly described in the Circular was approved in accordance with the rules of Cboe Canada (the "Exchange"). The Shares were voted as follows:

		Votes For				% For				Votes Withheld				% Withheld				Votes Against				% Against
Stock Option Plan Resolution			50,034,276				95.24	%			0				0				2,500,000				4.76	%

4. Approval of the Reapproval Resolution for the Security Based Compensation Arrangements

By a vote conducted by way of show of hands, the resolution in respect of the reapproval of the security-based compensation arrangements, including the approval of all unallocated awards, rights and other entitlements under the performance and restricted share unit plan and incentive stock option plan, as amended was approved in accordance with the rules of the Exchange. The Shares were voted as follows:

		Votes For				% For				Votes Withheld				% Withheld				Votes Against				% Against
Reapproval Resolution for the Security Based Compensation Arrangements			45,510,943				86.63	%			0				0				7,023,333				13.37	%

MCFARLANE LAKE MINING LIMITED

"Mark Trevisiol"

Mark Trevisiol
Chief Executive Officer & Director
info@mcfarlanelakemining.com

SOURCE: McFarlane Lake Mining Limited

View the original press release on ACCESS Newswire

FAQ

What were the results of the MLMLF director elections on March 3, 2025?

All seven nominees were elected to hold office until the next annual meeting.

Who was appointed as the auditor for McFarlane Lake Mining in 2025?

McGovern Hurley LLP was appointed as the auditor until the next annual meeting.

What was the outcome of the MLMLF stock option plan vote?

The amendments to the stock option plan were approved.

What does the reapproval of security-based compensation arrangements mean for MLMLF?

It includes the approval of all unallocated awards, rights, and entitlements under the performance and restricted share unit plan and incentive stock option plan.