Wycliffe Resources Inc. ("Wycliffe" or the "Corporation") announces that it held its Annual and Special Meeting of Shareholders on Monday, July 24, 2006 at the Ontario Bar Association Conference Centre. Several items of business were discussed.
Board of Directors
The proposed slate of directors were elected to the Board consisting of; Michael Newbury, Alpha Pang, Paul Vorvis, Geoffrey Farrar and Judi Wood.
The officers of the Corporation for the ensuing year are:
President and CEO: Michael Newbury
Chairman: Geoffrey Farrar
CFO: Julian Fosbery
Secretary: Andrew Newbury
The Corporation also set out a number of board committees fro the ensuing year.
The Audit Committee will be made up of Alpha Pang, Judi Wood and Paul Vorvis.
The Compensation Committee will consist of Alpha Pang, Judi Wood and Geoff Farrar.
The Corporate Governance Committee will consist of Alpha Pang, Judi Wood and Paul Vorvis.
Appointment of Auditors
Moore Stephens Cooper Molyneux LLP, Chartered Accountants were appointed auditor of the Corporation and the directors are authorized to fix their remuneration.
Change of Name of the Corporation
The board of directors was empowered to change the name of the Corporation from "Wycliffe Resources Inc." to "Renforth Resources Inc." The change will become effective upon the amendment of the Articles of the Corporation.
Amendments to the Stock Option Plan
The Stock Option Plan of the Corporation was amended to change the maximum number of common shares reserved for issuance pursuant to the Plan from 3,324,400 to a varying number equal to up to ten percent (10%) of the issued and outstanding common shares of the Corporation at and given time.
Wycliffe is a junior resource company focused on the exploration and development of mining properties in Northern Ontario. Wycliffe is specifically focused on diamond exploration and is one of the largest land holders in the Attawapiskat region of the James Bay Lowlands. This area is being explored for base metals and diamonds by a number of exploration companies. DeBeers is presently developing the Victor diamond mine in the area.
This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.
Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.
Wycliffe Resources Inc.
President and CEO
(416) 368 5049
(416) 368 3151 (FAX)