SPOKANE, Wash., June 16, 2014 (GLOBE NEWSWIRE) -- MINES MANAGEMENT, INC. (NYSE:MGN) (TSX:MGT) is pleased to announce the voting results for the annual general meeting of shareholders (the "Meeting") which was held on June 12, 2014 in Spokane, Washington.
All director nominees set out in the management information circular dated May 5, 2014 were re-elected as directors to serve (3) three year terms. In addition, all other measures submitted for business were approved. Details of the voting were as follows:
| Proposal #1 | Votes For |
Percentage of Votes For |
Votes Withheld | |
| Glenn M. Dobbs | 5,801,368 | 97.25% | 163,962 | |
| Roy G. Franklin | 5,805,399 | 97.32% | 159,931 | |
| Proposal #2 | Votes For |
Percentage of Votes For |
Against | Abstain |
| Tanner LLC appointed as independent accounting firm | 16,356,438 | 95.82% | 570,259 | 141,858 |
| Proposal #3 | Votes For |
Percentage of Votes For |
Against | Abstain |
| Executive Compensation | 5,663,775 | 94.94% | 211,968 | 89,587 |
| Proposal #4 | 1 Year | 2 Years | 3 Years | Abstain |
| Frequency of Advisory Shareholder Vote on Exec. Compensation | 2,081,504 | 87,185 | 3,693,612 | 103,029 |
| % of Voted | 34.89% | 1.46% | 61.91% | 1.72% |
The results of voting will be filed on the website of the U.S. Securities and Exchange Commission on Form 8K and with Canadian disclosure on SEDAR, as well as the Company's website, www.minesmanagement.com.
About Mines Management
Mines Management, Inc. is engaged in the business of acquiring and exploring, and if exploration is successful, developing mineral properties containing precious and base metals. The Company's primary focus is on the advancement of the Montanore silver-copper project located in northwestern Montana. The Montanore is an advanced stage exploration project containing 81.5 million tons of mineralized material with average grades of 2.04 ounces silver per ton and 0.75% copper. A Canadian NI 43-101 technical report has been completed on the project calculating a measured resource of 4.03 million tons of material grading 1.85 ounces per ton ("opt") silver and 0.74% copper, an indicated resource of 77.5 million tons grading 2.05 opt silver and 0.75% copper, and an inferred resource of 35.1 million tons grading 1.85 opt silver and 0.71% copper. The project is currently undergoing the permitting process. Additional information is available at Mines Management's website: www.minesmanagement.com.
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated and Inferred Mineral Resources:
This press release uses the terms "Measured Mineral Resource", "Indicated Mineral Resource", and "Inferred Mineral Resource." We advise U.S. investors that while those terms are recognized and required by Canadian NI 43-101, the Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves. Inferred Mineral Resources have a greater amount of uncertainty as to their existence and as to their economic and legal feasibility. In accordance with Canadian rules, estimates of Inferred Mineral Resources cannot form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that part or all of the Inferred Mineral Resources exists, or is economically or legally mineable. The SEC normally only permits issuers to report mineralization that does not constitute 'reserves' by SEC standards as "in place" tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject to NI 43-101.