BCN.L Regulatory News (BCN)

Bacanora Minerals Ltd

("Bacanora" or the "Company")

Result of AGM

Bacanora, the Canadian and London listed (TSX-V: BCN and AIM: BCN) lithium and borates development company focused on Mexico, held the annual and special meeting of its shareholders on Friday 12 June in Calgary, Alberta. In total, an aggregate of 60,082,307 common shares, representing approximately 71.06 per cent. of Bacanora's outstanding shares, were represented in person or by proxy at the meeting.

At the meeting, the number of votes cast 'For' the election of the following nominees exceeded the number of votes 'Withheld' in respect of the election of such nominees: Colin Orr-Ewing, Martin Vidal, Shane Shircliff, Derek Batorowski, James Leahy, Kiran Morzaria and David Lenigas. The number of votes 'Withheld' in respect of the election of Guy Walker exceeded the number of votes cast 'For' his election. Based upon the foregoing voting results and applicable Canadian laws, as all eight (8) nominees for election as a director had votes cast in favour of their election, they were all duly elected as directors of the Company. It should be noted however (as disclosed in the Management Proxy Circular of the Company dated May 8, 2015) that, notwithstanding the foregoing election results, each of the directors has previously entered into a Director Appointment Letter and has also agreed to be bound by Bacanora's Majority Voting Policy. Under each of those instruments, the foregoing nominees have all contractually agreed that in the event that it should occur that a greater number of votes are 'withheld', than are cast 'in favour' of their respective election as a director, he/she shall forthwith thereafter (and in any event within seven (7) days) tender his resignation as a director of Bacanora (and from any committee of the Board to which he/she has been appointed).

In addition, all other resolutions presented at the meeting were approved by Bacanora's shareholders, including the appointment of BDO Canada LLP as auditor, the re-approval of Bacanora's stock option plan and the approval of an ordinary resolution to confirm, ratify and approve certain amendments to the Company's by-laws, all as set forth in the Management Proxy Circular of the Company dated May 8, 2015.

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ABOUT BACANORA:

Bacanora is a Canadian and London listed minerals explorer (TSX-V: BCN and AIM: BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium and borates. The Company's operations are based in Hermosillo in northern Mexico and it currently has two significant projects under development in the state of Sonora. The two main assets of Bacanora are: 

· The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an NI 43-101 compliant Indicated Mineral Resource of 1.12 million tonnes ("Mt") of lithium carbonate equivalent ("LCE") contained in 95 Mt of clay at a Li grade of 2,200 ppm and an Inferred Mineral Resource of 6.3 Mt LCE contained in 8500 Mt of clay at a Li grade of 2,300 ppm.; and 

· The Magdalena Borate Project, covering 16,503 hectares in Sonora state, Mexico, where the Company's main borate zone, El Cajon, has an Indicated Resource (in accordance with NI 43-101) of 1.17 mt of B2O3, at an eight per cent. cut-off grade. The Company has completed a number of measures to determine the geological and commercial potential of the project and is undertaking a pre-feasibility exercise to determine the economic benefit of developing the mine and constructing a processing plant on site in order to become a supplier of boric acid.