AMERICAN FORK, Utah., Oct. 6, 2026 /PRNewswire/ -- Clifton Mining Company held its annual meeting at 12:30 pm on September 24, 2026 at the Alpine Art Center in Alpine, Utah. The Company reports that shareholders approved the election of each of the three (3) director nominees. Each director nominee received affirmative votes calculated from a quorum of approximately 65% of the shares voted, excluding abstentions and broker non-votes, as follows (all percentages are rounded):
Director Nominee (Term) _______ | For |
Jessica Marr (Term expiring 2029) | 54 % |
Jerry L Wilhelm (Term expiring 2029) | 52 % |
Clifford L. Reid (Term expiring 2029) | 53 % |
Shareholders also ratified the appointment of Sadler, Gibb & Associates, LLC as the Company's independent auditors, with affirmative votes from approximately 81% of the shares voted. The Board of Directors had recommended a vote for this proposal.
Shareholders also approved the Clifton Mining Company 2026 Stock Option Plan, with affirmative votes from approximately 62% of the shares voted. The Board of Directors had recommended a vote for this proposal.
Shareholders also approved amending the Company's Bylaws on the election of directors from "plurality" of the votes to a "majority" of the votes with affirmative votes from approximately 91% of the shares voted. The Board of Directors had recommended a vote for this proposal.
Two reports were given at the meeting, the first one was given by Paul Schwitzer, Vice President of Marketing and Sales for American Biotech Labs, LLC a wholly owned American Silver, LLC entity, of which the Company is a Member. Mr. Schwitzer reported that product sales for 2026 are expected to be significantly more than last year and could potentially be the company's best year so far. He also reported that Amazon sales have also continued to grow significantly over the past years and could potentially hit close to $5 million in sales this year. The company has also seen very significant growth in the medical supply market.
The second report was given by Michael Marr, who provided an update on Desert Hawk Gold Corp. and that they were in the process of trying to re-finance some of their equipment. Also, they have brought in a guy with 20 years of experience in running a crusher and that it was going much better but still trying to crush more. They have approximately 20 people working onsite but still lack capital. Mr. Marr then reported that Clifton Mining Company had been reduced in Desert Hawk's refinancing to around 9%. Also, the Company was looking at another Agreement with Desert Hawk on the development of the Clifton Shear Zones, but he felt like there were issues on whether or not Desert Hawk could actually get the financing to do the project, along with other internal issues they were dealing with. He also mentioned that Clifton has to work on its negative cash flows, have board meetings more often, and look into other opportunities to bring in additional cash flows.
The meeting adjourned around 2:00 pm.
Clifton trades on the OTC Markets under the symbol: "CFTN".
Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.
SOURCE Clifton Mining Company
