Xtra-Gold Reports Voting Results of Its Annual and Special Meeting
Toronto, Ontario--(Newsfile Corp. - July 3, 2014) - XTRA-GOLD RESOURCES CORP. (TSX: XTG) (OTCQB: XTGRF) ("Xtra-Gold" or the "Company") is pleased to announce the voting results of its annual and special meeting (the "ASM") of shareholders of the Company (the "Shareholders") held on June 19, 2014. A total of 23,999,018 common shares representing approximately 51.99% of the issued and outstanding shares of the Company were voted at the ASM. Resolutions relating to the following matters were approved by a show of hands.
Appointment of Auditors
Davidson & Company LLP, Chartered Accountants were appointed as the auditors of the Company for the ensuing year.
Election of Directors
The number of directors to be elected to the board of directors of the Company ("Board") was set at six. The following nominees proposed by management were elected as directors of the Company to hold office until the next annual meeting of Shareholders or until their successors are elected or appointed.
| DIRECTOR | VOTES FOR | % | VOTES WITHHELD | % |
| Paul Zyla | 19,959,891 | 98.46% | 311,205 | 1.54% |
| Richard W. Grayston | 19,919,891 | 98.27% | 351,205 | 1.73% |
| Peter Minuk | 19,885,091 | 98.10% | 386,005 | 1.90% |
| James Schweitzer | 19,960,091 | 98.47% | 311,005 | 1.53% |
| Dr. Guy Joseph Della Valle | 19,959,091 | 98.46% | 312,005 | 1.54% |
| James Longshore | 19,958,891 | 98.46% | 312,205 | 1.54% |
Robert Casaceli did not stand for re-election as a director. The Company thanks Mr. Casaceli for his contributions as a director of the Company since June 2010 and wishes him much success in his future endeavours.
Dr. Guy Joseph Della Valle, Ph.D., M.Sc., P.Geo, Temp. is Vice-President, Exploration of Buccaneer Gold since June 2011. Dr. Della Valle is a senior exploration geologist and possesses more than 30 years of experience in all phases of mineral exploration from green field to pre-feasibility study, including underground mining experience. He is also experienced with respect to property evaluation, due diligence, project generation for base metals, precious metals, rare earths and diamonds. Dr. Della Valle received his M.Sc. in Geology in 1973 and his Ph.D. in 1988 from the University of Lausanne, Switzerland. Since September 2011, Dr. Della Valle has been overseeing exploration operations at Buccaneer Gold's Banso and Muoso Projects located in the Kibi Gold Belt in Ghana, West Africa. He is Buccaneer Gold's QP (Qualified Person) with respect to these projects.
James Longshore is a co-founder of Xtra-Gold and formerly served as the Company's President, Chief Executive Officer and Chief Financial Officer from March 4, 2007 to June 1, 2010 and a director from September 1, 2006 to June 1, 2010. Mr. Longshore has been overseeing the Company's operations in Ghana as General Manager, Ghana Operations in connection with our Ghanaian subsidiaries, Xtra-Gold Mining Limited and Xtra-Gold Exploration Limited since 2009. He has overseen the administrative and exploration activities relating to the Company's projects since June 2006. Mr. Longshore has more than 20 years of business investment experience in resource companies. Mr. Longshore received a BEcon from Bowdoin College in Brunswick, Maine in 1990.
Stock Option Matters
The Shareholders also voted 96.47% in favour of the unallocated stock options to acquire common shares under the Company's stock option plan. The disinterested Shareholders voted 94.77% in favour of an amendment to 2,147,000 stock options previously granted to insiders of the Company by re-pricing these options to C$0.50 per share. Final acceptance of these matters was received from the TSX on June 26, 2014.
Contact Information
For further information please contact:
Paul Zyla, Chief Executive Officer
Telephone: 416 366-4227
E-mail: info@xtragold.com
Website: www.xtragold.com