VAL-D'OR, QC, Feb. 22 /CNW Telbec/ - X-Ore Resources (TSXV - XOR)
("X-Ore") announces that on February 19, 2008, the Board of Directors
approved, subject to shareholder and TSX Venture Exchange approval, certain
amendments to the Company's Stock Option Plan (the 'Plan'). The first
amendment is to change the maximum number of common shares issuable under the
Plan from 5,000,000 to 8,175,000. This new number of common shares available
for issuance pursuant to the exercise of stock options will represent less
than 10% of the aggregate number of issued and outstanding common shares as at
February 21, 2008. A second amendment is to permit the Board of Directors to
decide in its discretion the options granted to an optionnee pursuant to the
Plan become vested in stages over a period of 18 months following their grant.
In addition, the Company wishes to correct its January 18, 2008 press
release with respect to the exercise price of the 620,000 options to purchase
common shares that were granted to its employees and directors. The price
should have been of $0.10 instead of $0.08.
About X-Ore Resources Inc.
X-Ore Resources is a mineral exploration company with 18 properties
located in known gold regions of Mexico and Canada, including the prolific
Sierra Madre Gold Belt and the Val-d'Or region of Quebec.
The TSX Venture Exchange does not accept responsibility for the accuracy
of this press release. This press release contains "forward-looking
statements" not based on historical facts. Forward-looking statements express,
as of the date of this press release, our estimates, forecast, projections,
expectations and opinions as to future events or results. Forward-looking
statements herein expressed are reasonable, but involve a number of risks and
uncertainties, and there can be no assurance that such statements will prove
to be accurate. Therefore, actual results and future events could differ
materially from those anticipated in such statements. Factors that could cause
results or events to differ materially from current expectations expressed or
implied by the forward-looking statements include, but are not limited to,
fluctuations in the market price of precious metals, mining industry risks,
uncertainty as to calculation of mineral resources and requirements of
additional financing and the capacity of the Company to obtain financing.
For further information:
For further information: please visit X-Ore's website at www.x-ore.com
or contact: Mr. Léon Méthot, President and CEO, (819) 824-5422; Mr. Paul
Goulet, Investor Relations, (514) 710-8290, email@example.com