Miocene Metals Announces Stock Option Grants
17 September 2012 - 7:02AM
PR Newswire (Canada)
TORONTO, Sept. 17, 2012 /CNW/ - Miocene Metals Limited (the
"Company" or "Miocene Metals") announces that pursuant to its stock
option plan on August 7, 2012 the Company granted 150,000 options
to Bruce Jago, President, CEO and a director of the Company and
150,000 options to Jose Garcia, Vice President, Exploration. The
stock options are exercisable for common shares in the capital of
the Company at $0.10 per share and expire five years from the date
of grant. The stock options will vest over two years as
follows: half of each stock option grant will vest one year from
the date of grant and the remainder will vest two years from the
date of grant. The total number of shares reserved and
available for issuance pursuant to the Company's Stock Option Plan
is 10% of the issued common shares. Total issued and
outstanding common shares in the capital of the Company at the date
hereof are 66,946,862. To date an aggregate of 6,315,000
stock options have been granted pursuant to the Stock Option Plan.
The closing price of the Company's common shares on the TSX Venture
Exchange ("TSXV") over the past 20 trading days has ranged from a
high of $0.055 to a low of $0.045. About Miocene Metals Limited
Miocene Metals is focused on the exploration and development of six
porphyry copper-gold-molybdenum properties in south-western British
Columbia that occur within the Tertiary-aged Cascade Magmatic Arc.
The Cascade Arc shares many geological characteristics with
Tertiary-age porphyry belts that stretch the length of Chile and
Peru in South America and hosts some of the world's largest
porphyry copper-gold-molybdenum deposits. The Cascade Magmatic Arc
hosts a number of significant porphyry Cu-Au and Mo deposits in
Washington State, and Alaska (Glacier Peak and Margaret, and Quartz
Hill respectively) but remains largely unexplored in British
Columbia. Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.
Miocene Metals Limited CONTACT: Please visit the Miocene Metal's
website atwww.miocenemetals.com, orcontact:Miocene Metals
LimitedBruce C. Jago, Ph.D., P.GeoPresident and CEO of Miocene
Metals Limited(604) 654-2581bjago@miocenemetals.com
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