TORONTO, Sept. 17, 2012 /CNW/ - Miocene Metals Limited (TSX-V: MII) (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.
SOURCE: Miocene Metals Limited
For further information:
Please visit the Miocene Metal's website at www.miocenemetals.com, or contact:
Miocene Metals Limited
Bruce C. Jago, Ph.D., P.Geo
President and CEO of Miocene Metals Limited