TSX VENTURE SYMBOL "MC"
CALGARY, June 12 /CNW/ - MILL CITY GOLD CORP. ("Mill City" and/or the
"Company") announced today that the directors of the Company approved, subject
to requisite approval by the Company's shareholders and the TSX Venture
Exchange, an amendment to the Company's stock option plan to increase the
maximum number of common shares issuable under the plan from 8,543,841 to
10,084,841 being 20% of the Company's issued and outstanding common shares as
at the date hereof. Under the Company's stock option plan as so amended, the
Company has today granted to Bruce Durham, P.Geo., senior geological
consultant to the Company, an incentive stock option to purchase 500,000
common shares. In addition, the Company also granted additional incentive
stock options to directors and officers to purchase a total of 1,050,000
common shares. These options may not be exercised until the requisite
shareholder approvals have been received and will vest as to 25% upon TSX
Venture Exchange approval of the amendment to the Company's stock option plan
for filing and 12 1/2% every quarter thereafter with an expiry date of
June 12, 2013 and are exercisable at a price of $0.25 per share.
ON BEHALF OF THE BOARD OF DIRECTORS
"James R. Brown"
James R. Brown
Chairman, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this Release.
For further information:
For further information: James R. Brown at (403) 640-0110 or visit the
Company's website at www.millcitygold.com