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Jul 04, 2008
Mindoro Issues Incentive Stock Options
EDMONTON, Alberta: July 4, 2008 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) 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 2,395,000 common shares at an exercise price of $0.29 per share for a five year term. Options will vest over one year with one half of the options vesting in each six month period following the date of issue. The company typically grants incentive options on an annual basis with the last general grant to company personnel occurring on June 7, 2007.The grant of incentive stock options provides long term incentive to the Company's key 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 Accent Marketing Limited and Argentuminvest GmbH to purchase 100,000 common shares each at an exercise price of $0.29 per share for a two year term with one quarter of the options vesting in each three month period following the date of issue. 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). Mindoro has initial 43-101 compliant resources on the Kay Tanda gold-silver project and on the Agata nickel laterite project. The company has also identified 22 porphyry copper-gold prospects in the Philippines and is currently involved in several advanced joint venture discussions.
For further information, contact:
INVESTOR RELATIONS - CANADA
Mindoro Resources Ltd.
Penny Gould, President: firstname.lastname@example.org
Toll Free: 1.877.413.8187
Renmark Financial Communications Inc.
Barbara Komorowski: email@example.com
Jason Roy: firstname.lastname@example.org
Tel.: (514) 939-3989
Fax: (514) 939-3717
INVESTOR RELATIONS - EUROPE
Richard Mayr: email@example.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
You can view the Next Press Releases item: Wed Jul 16, 2008, Drill Results From Agata North Nickel Laterite Project
You can view the Previous Press Releases item: Wed Jul 2, 2008, Mindoro Acquires Remaining Interest In Batangas Projects And Resumes Joint Venture Negotiations
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