TORONTO, April 19 /CNW Telbec/ - Carlisle Goldfields Limited (TSX: CGJ),
(the "Company") - announces that the Board of Directors has, as recommended by
the Compensation Committee, approved the grant of incentive stock options to
three directors, and one officer of the Company to purchase up to 1,200,000
common shares in the capital stock of the Company at a price of $0.305 per
share, pursuant to the shareholder approved Stock Option Plan (the Plan). The
options are exercisable for a period of five (5) years from April 17, 2007.
Under the Plan all Stock Options granted are subject to cancellation upon the
optionee ceasing to be a director or officer of the Company.
Stephen Mlot, the President of the Company, and John Steele, the
Chairman, were also offered up to 500,000 stock options each. Both elected to
not accept any stock options at this time as they are adequately compensated
in other ways, and that it is more appropriate to provide the incentive to the
Independent Directors who derive no other compensation from the Company.
These are the first Stock Options granted and there are now a total of
1,200,000 outstanding, out of a total of 3,259,996 authorized under the Plan.
Carlisle Goldfields Limited, a Canadian based Gold Exploration and
Development company, is the owner of three geographically diverse properties
in Manitoba, Ontario and British Columbia. Carlisle's initial focus will be on
its 20,000 hectare land position in the Lynn Lake Greenstone Belt of Manitoba
where roughly 144,000 ounces of gold and 432,000 ounces of silver were
produced between 1986 and 1989. Diamond drilling continues at the MacLellan
Mine in Lynn Lake, Manitoba as the Company pursues its short term objective of
drilling 10,000 metres and completing a Resource Estimate in Q3 2007.
For further information:
For further information: Stephen G. Mlot, President; Carl McGill,
Director, Corporate Development, (416) 368-0028, Fax: (416) 703-3695,
firstname.lastname@example.org; www.carlislegold.com; Renmark Financial Communications
Inc.: Neil Murray-Lyon: email@example.com; Michael Shore:
firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717;