TORONTO, ONTARIO — (Marketwire) — 07/09/12 — Concerned shareholders of Maudore Minerals Ltd. (“Maudore”), consisting of Rex Harbour, The Harbour Foundation and City Securities Limited, holders of approximately 18.4% of Maudore shares (the “Concerned Shareholders”), remind fellow shareholders that to support change, votes must be submitted as soon as possible, given the July 19, 2012 meeting date is quickly approaching.
The Concerned Shareholders also wish to express their disappointment with the report by Institutional Shareholder Services (“ISS”) regarding the replacement of the current board of Maudore. “ISS has reached the wrong conclusion,” said Rex Harbour on behalf of the Concerned Shareholders. “ISS erroneously overlooked five crucial points:
ISS, despite its conclusion, correctly highlighted the Concerned Shareholders- detailed business plan and observed that “the focal point of this proxy contest is whether there is sufficient evidence to prove that the current board and management lack competent technical expertise in handling mining projects”.
“What is needed going forward are mining development and exploration management skills that our slate provides and that the present management lacks,” said Mr. Harbour. “We stand by our strong belief that the current management lacks the technical understanding and drive needed to bring Comtois to production. We urge all shareholders to read our circular and our 100 Day Action Plan objectively and compare it against management-s continued empty promises.”
Maudore is at a Critical Juncture – Vote YELLOW to Support Change
Regardless of how many shares you own, all Maudore shareholders are urged to read the information circular prepared by the Concerned Shareholders, and to seize this opportunity and vote the YELLOW proxy to ensure change.
Shareholders who have voted the management proxy and wish to support the Concerned Shareholders have the right to change their vote by simply executing a yellow proxy. As a later-dated yellow proxy replaces a previously recorded vote.
TIME IS OF THE ESSENCE, YELLOW proxies must be returned no later than July 16, 2012 at 5:00 p.m. (Toronto Time).
To keep current with all further developments and for assistance and ease with voting your YELLOW proxy, please contact Phoenix Advisory Partners at 1-800-239-6813 (toll free in North America) or 1-201-806-2222 (outside North America, banks, brokers and collect calls) or by email at . We encourage all holders to visit the Concerned Shareholder website at where the YELLOW proxy can be easily voted by clicking on the “Vote Here Now” button.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “plan,” and similar expressions are generally intended to identify forward-looking statements. These statements are based on current expectations of the Concerned Shareholders and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. The Concerned Shareholders do not assume any obligation to update any forward-looking statements contained in this press release, except as required by applicable law. Please refer to the Concerned Shareholders- circular for further information regarding the risks of these statements.
The TSX Venture Exchange has not reviewed this release. 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.
Contacts:
Phoenix Advisory Partners
Susy Monteiro
Senior Vice President
(647) 351-3085 ext. 222