Gold Line Announces Election of Directors and Annual General and Special Meeting Results

VANCOUVER, BC, Nov. 9, 2021 /CNW/ - Gold Line Resources Ltd. (TSXV: GLDL) (Frankfurt: 4UZ) (WKN: A2QGWC) (OTCQB: TLLZF) ("Gold Line" or the "Company") is pleased to announce the results from the Annual General and Special Meeting of Shareholders of the Company (the "Shareholders"), held on November 9, 2021 at 10:00 a.m. PST at Suite 3123 – 595 Burrard Street, Vancouver, BC, and by conference call.

All nominees listed in the Company's information circular dated September 28, 2021 (the "Circular") were elected as directors of the Company, with the resulting directors being:

1. Mr. Adam Cegielski;
2. Mr. Joel Shacker;
3. Mr. Simon D. Studer;
4. Dr. Eric Jensen; and
5. Mr. Toby Pierce.

In addition, the Shareholders received the audited annual financial statements of the Company for the year ended December 31, 2020, and approved all of the other resolutions detailed in the Circular and put forward at the Meeting, namely:

1. To re-appoint Davidson & Company LLP as the auditor of the Company for the ensuing year and to authorize the directors to fix the remuneration to be paid to the auditor.
2. To fix the number of directors for the ensuing year at five (5).
3. To elect directors for the ensuing year.
4. To re-approve the Company's stock option plan.

The Company also announces that an aggregate of 1.5 million incentive stock options have been granted to consultants, including 375,000 incentive stock options to Toby Pierce, a Director and Consultant of the Company, exercisable at a price of $0.14 per share for a term of 5 years, subject to the approval of the TSX Venture Exchange.

About Gold Line Resources Ltd.

Gold Line Resources is focused on acquiring mineral properties with exceptional exploration potential in the most prolific gold-producing regions of Fennoscandia. Gold Line is working in one of the world's top mining jurisdictions and emerging exploration frontiers due to its strong mineral endowment, stable tenure, straightforward permitting, favourable tax regime and supportive geopolitical landscape.

Gold Line currently holds a prospective portfolio of advanced and early-stage gold exploration properties in Sweden, and Finland including the Kankberg Norra property in Sweden's Skellefteå Belt; and the Långtjärn property (comprised of the Storjuktan North and Storjuktan South licences), the Blåbärliden property, and the Paubäcken property, all located within the Gold Line Mineral Belt, in Sweden, as well as the Solvik Gold Project in southern Sweden, and the Oijärvi Gold Project located in the Oijärvi Greenstone Belt of Finland.

ON BEHALF OF THE BOARD OF DIRECTORS OF GOLD LINE RESOURCES,
Adam Cegielski
CEO & Director

FOLLOW US:

Website: https://www.goldlineresources.com/ 
Facebook: https://www.facebook.com/Gold-Line-Resources 
Twitter: https://twitter.com/GLDL_Resources 
Instagram: https://www.instagram.com/gold_line_resources/
LinkedIn: https://www.linkedin.com/company/gold-line-resources-ltd

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

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

SOURCE Gold Line Resources Ltd.

Email: [email protected], Telephone: [phone]