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Jun 07, 2007
Mindoro Issues Incentive Stock Options
EDMONTON, Alberta; June 7, 2007 -- Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: OLM) today announced that incentive stock options have been granted to directors, officers, advisory board members and employees of the Company and the Company's Philippine subsidiary, MRL Gold Phils., Inc., to purchase 2,245,752 common shares at an exercise price of $0.84 per share for a five year term. Options will vest over two years with one quarter of the options vesting in each six month period following the date of issue. The grant of incentive stock options provides long term incentive to the Company's personnel and further ensures that the interests of the Company's personnel are aligned with the interests of the Company's shareholders.
Options have also been granted to Ascenta Capital Partners Inc. to purchase 42,000 common shares at an exercise price of $0.84 per share for a two year term and vesting in accordance with TSX Venture Exchange guidelines. All grants are subject to regulatory approval.
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). The Company is carrying out three major drill programs: resource delineation drilling on the Kay Tanda epithermal gold-silver prospect, reconnaissance drilling on the Calo porphyry copper-gold prospect, and advancing a significant nickel laterite prospect towards production; in addition to holding another 22 identified porphyry copper-gold prospects in the Philippines
FOR FURTHER INFORMATION, CONTACT:
Executive Vice President
Ascenta Capital Partners Inc.
Toll Free: 1.866.684.4209 ext. 228
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
You can view the Next Press Releases item: Mon Jun 11, 2007, Initial Geostatistical Report for Kay Tanda Received: Exploration Target Released
You can view the Previous Press Releases item: Wed Jun 6, 2007, Initial Drill Results from Agata Nickel Laterite Exceed Expectations; Exploration Target Increased
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