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Waverley Resources Ltd. Reports of the voting results of the Annual and Extraordinary Shareholders’ Meeting

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TORONTO, June 23, 2021 (GLOBE NEWSWIRE) – Waverley Resources Ltd. (“Waverley“Or the”Corporation”) Reported that all matters presented for approval at its annual and extraordinary shareholders’ meeting held on June 23, 2021 (the“meeting“) They were approved. Each of the matters voted on at the Meeting are discussed in detail in the Corporation’s management information circular dated May 25, 2021 (the “Circular”), Which is available at SEDAR at www.sedar.com.

A total of 31,967,520 Common Shares representing 91.12% of the issued and outstanding Common Shares of the Corporation were voted in person or represented by proxy in relation to the Assembly. The voting results for each matter presented at the meeting are provided below:

1. Election of directors

At the meeting, each of the Corporation’s four directors, Fraser Buchan, Donn Burchill, John McBride, and A. Murray Sinclair, were re-elected to the Waverley board of directors, each to serve until the next annual shareholders meeting. or until their respective successors are elected or appointed.

The detailed results of the vote were as follows:

Candidate # Votes in favor % Of votes in favor # Of votes withheld % Retained votes
Fraser Buchan 31,967,520 100 0 0
Donn Burchill 31,967,520 100 0 0
John mcbride 31,967,520 100 0 0
A. Murray Sinclair 31,967,520 100 0 0

2. Appointment of auditor

MNP LLP was appointed to serve as auditor of the Corporation for the following year at a remuneration to be set by the Waverley board of directors with 100% of the votes in favor.

3. Approval of the settlement resolution

A special resolution authorizing a reorganization of Waverley’s business through a statutory settlement plan under Section 182 of the Public Limited Companies Law (Ontario) (the “arrangement”), As described in more detail in the Circular, was approved with 100% of the votes in favor.

As previously announced, under the Agreement, the Corporation plans to: (i) transfer its ownership and rights in the Tin City Tungsten-Silver-Lead-Zinc property (the “Tin City project“) At Talmine Resources Ltd. (“Talmina“), (Ii) transfers its ownership and property rights to Lauder Copper-Gold (the”Lauder project“) At Woodbridge Resources Ltd. (“Woodbridge”), AND (iii) spin off all Talmine and Woodbridge securities to Waverley shareholders in a pro rata Base. The agreement will result in each of Talmine and Woodbridge becoming separate unlisted reporting issuers, allowing them to focus on the development of the Tin City Project and the Lauder Project, respectively.

The Corporation intends to apply to the Ontario Superior Court of Justice for a Final Order on June 25, 2021, and expects the effective date of the Agreement to be June 30, 2021 or about that date.

Cautionary Note Regarding Forward-Looking Statements

Some of the statements made and the information contained is “Prospective information“Within the meaning of applicable securities laws, including statements about our future plans, financing and operations, and the timing and completion of the agreement. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the results to The Corporation’s actual performance or achievements are materially different from future results, performance or achievements expressed or implied in such forward-looking results Information.Forward-looking information is subject to a variety of risks and uncertainties that could cause events or Actual results differ from those reflected in forward-looking information, including but not limited to general economic, business and market conditions, including in light of the COVID-19 Pandemic, changes in national and local government legislation or regulations regarding environmental factors, taxes or foreign investment to; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in the prices of raw materials; dependence on stock market financing to finance operations; and other risks and uncertainties, including those described in the discussion and analysis of each administration published by the Corporation. In addition, the forward-looking information is based on various assumptions. If one or more of these risks and uncertainties materialize, or if the underlying assumptions turn out to be incorrect, actual results may vary materially from those described in the forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements, which refer only to the date they are made. Except as required by applicable securities law, the corporation assumes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events, or otherwise.

For more information:

Fraser Buchan
Executive Director
Phone: (416) 473-4099

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