ELGIN MINING ANNOUNCES GRANT OF OPTIONS

TORONTO, May 2 /CNW/ - Elgin Mining Inc. (TSX-V: ELG) ("Elgin" or the "Company") has announced that its Board of Directors has granted stock options in an aggregate of 1,050,000 common shares to the Board of Directors and an Officer of the Company.  The stock options were granted under Elgin's Amended 2008 Stock Option Plan. 

The exercise price of the options is $1.74, based on a five day volume weighted average price. Each stock option entitles the holder to purchase one common share for a period of five years.  The grant is subject to TSX Venture exchange approval and ratification by shareholders at the next annual meeting.

FORWARD-LOOKING STATEMENTS

Certain information set forth in this press release contains "forward-looking statements" and "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include the requisite approvals and ratifications for the grant of the options. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Elgin's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Elgin undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

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

SOURCE Elgin Mining Inc.

For further information:

Brian Morales
Elgin Mining Inc.
(416) 640-1930
bmorales@elginmining.com

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Elgin Mining Inc.

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