Maudore Reports on its Annual and Special Meeting

May 22, 2014

MONTREAL, May 22, 2014 /CNW Telbec/ – Maudore Minerals Ltd. (MAO: TSX Venture Exchange; MAOMF: US OTC; M6L: Frankfurt Exchange) (“Maudore” or the “Corporation“) is pleased to report that all resolutions presented for approval at
its annual and special meeting of shareholders held on May 22, 2014
(the “Meeting“) have been approved.

George Fowlie, Daniel Harbour, Keith Harris, Robert Pevenstein, Gregory
Struble and Raynald Vézina have been elected as directors of the
Corporation and Raymond Chabot Grant Thornton LLP have been
re-appointed as auditors of the Corporation for the year ending
December 31, 2014.

Finally, the shareholders of the Corporation eligible to vote on the
matter have approved the previously announced financing and debt
restructuring transactions entered into by the Corporation with FBC
Holdings S.à r.l., marking an important step towards the financial
rehabilitation of the Corporation.

Following the conclusion of the Meeting, the Board of Directors of the
Corporation named George Fowlie as the Chairman of the Board, and
confirmed the appointments of Greg Struble as President and Chief
Executive Officer and Claudine Bellehumeur as Chief Financial Officer.

Commenting on these latest developments, Greg Struble stated that he
would like to “personally thank all our shareholders and employees for
their continued support through this time of transition for Maudore.
It has taken an incredible amount of teamwork and perseverance on all
fronts to get us to this point in our strategic path. Now, with the
strong support from our financier, we will continue to work toward
transitioning Maudore into a long-term profitable Québec junior gold

About Maudore Minerals Ltd.

Maudore is a Québec-based junior gold company in production, with mining
and milling operations as well as more than 22 exploration projects.
Five of these projects are at an advanced stage of development with
reported current and historical resources and mining. Currently, gold
production is ramping up at the Sleeping Giant mine. The Corporation’s
projects span some 120 km, east-west, of the underexplored Northern
Volcanic Zone of the Abitibi Greenstone Belt and cover a total area of
1,285 km² with the Sleeping Giant Processing Facility within trucking
distance of key development projects.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

SOURCE Maudore Minerals Ltd.

Source: PR Newswire

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