Burin Gold shareholders approve long-term incentive plan


Vancouver, British Columbia–(Newsfile Corp. – July 13, 2022) – Burin Gold Corp. (TSXV: BURG) (“Gold chisel“or the”Company“) announces that all motions presented to shareholders of the Company have been approved at the annual and special meeting of shareholders of the Company (the “Meeting“) held on July 13e2022.

Long-term incentive plan

Shareholders approved the Company’s modified 10% long-term incentive plan (the “LTIP“) at the Meeting. The maximum number of common shares issuable under the LTIP is 10% of the issued and outstanding share capital of the Company on the date of the grant. The LTIP has a limit ” rolling”, as the number of shares reserved for issuance under the stock option and restricted stock unit grants will automatically increase as the issued and outstanding share capital of the Company will increase. The limit includes previously granted outstanding stock options and restricted stock units. The LTIP is subject to annual approval by shareholders and the TSX Venture Exchange (“TSXV“).

A copy of the LTIP was attached to the Corporation’s Information Circular relating to the Meeting dated June 8, 2022 (the “Circular“) and is available under the Company’s profile on SEDAR.

As further explained in the Circular, key amendments to the LTIP ensure compliance with TSXV’s revised Policy 4.4 and include: (i) setting award limits to certain participants who are eligible to receive awards stock options and restricted stock units under the LTIP; (ii) amend the exercise provisions to permit “net exercise” by option holders; (iii) capital stock adjustments are subject to the prior approval of the TSXV, except where they relate to consolidations or splits, and (iv) the amendment of the expiry provisions to provide that if an option’s expiration date falls during a blackout period (as defined in the LTIP), that expiration will automatically be extended to the day that is the tenth business day after the end of the Blackout.”

About Burin Gold Corp.

Burin Gold is a public company recently listed on the TSX Venture Exchange (TSXV: BURG). The Company’s principal asset is its Hickey’s Pond-Paradise gold project on the Burin Peninsula, Newfoundland. This project contains the drill-tested Hickey’s Pond gold prospect with an initial 1,000m drill program in 2020 with best results of 10.8m at 4.43 g/t Au, as well as numerous other epithermal gold showings historical high sulphidation that have not yet been drill tested. The Company initiated a 10,000m diamond drill program on the property in the first quarter of 2022 and plans to drill throughout the year.

On behalf of the Council

David Clark
CEO and Director

Further information :

David Clark
CEO and Director
Chisel Gold Corp.
1-877-620-4185 – toll free

Forward-looking statements

Neither the 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.

This press release contains certain “forward-looking statements” that are not historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words that indicate that the Company or management expects a stated condition or result to occur. Forward-looking statements can be identified by words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will” or “plans”. Because forward-looking statements are based on assumptions and address future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company does not guarantee that actual results will meet management’s expectations. The risks, uncertainties and other factors involved in forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, mineral resource estimate , exploration and mine development plans, timing of commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the inability to identify mineral resources, the inability to convert estimated mineral resources to reserves, the inability to complete a feasibility study that recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or inability to obtain governmental, environmental or other approvals required for the project, risks policies, inability to meet the obligation to accommodate First Nations and other Indigenous peoples, uncertainties related to the availability and costs of financing needed in the future, changes in stock markets, inflation, changes in exchange rates, fluctuations in raw material prices, delays in the development of projects, costs investment and operating costs vary significantly from estimates and other risks associated with the mining exploration and development industry, an inability to predict and counter the e effects of COVID-19 on the company’s business. Company, including, but not limited to, the effects of COVID-19 on commodity prices, capital market conditions, labor restrictions, and international travel and supply chains. supply, and the risks set forth in the Company’s public filings on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information contained in this press release are reasonable, undue reliance should not be placed on such information, which speaks only as of the date of this press release, and no assurance can be given that such events will occur within the time disclosed or not at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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