Module Resources Grants Options


    BLAINE, WA, April 2 /CNW/ - Module Resources Incorporated (TSX-NEX :
MLE.H) announced that it has granted 800,000 stock options on March 31, 2009,
including 500,000 stock options that were granted to directors and officers.
The stock options are exercisable into common shares of Module at an exercise
price of C$0.10 per share for a period of five years. Module's common shares
closed at C$0.10 per share on the TSX Venture Exchange NEX Board on March 30,
2009. Module has 24,481,626 common shares issued and outstanding. Under the
terms of the Company's "rolling" Incentive Stock Option Plan, a maximum of
2,448,163 shares are available to be issued pursuant to the exercise of
options at this time. Including this grant of 800,000 options, a total of
1,550,000 shares have been reserved for issuance pursuant to outstanding
option grants. A further 898,163 shares are available for issuance pursuant to
future option grants at this time.

    About Module Resources Incorporated

    Module Resources is a Canadian mineral exploration company focused on the
development of the Ladner Gold Project located in southern British Columbia.
The property produced approximately 50,000 ounces of gold from several
historic mines, most notably the underground Carolin Mine (1982 to 1984),
which produced 43,500 ounces of gold. The site is well developed and close to
labor, power and transportation and has high exploration potential. Module has
an option to earn a 90% interest in the Ladner Gold Property and is preparing
to carry out an underground exploration drilling program at the Carolin Mine
in the next few months.

    On behalf of the board of directors,

    "Bruce W. Downing"

    Chief Executive Officer

    The TSX-NEX Exchange has not reviewed and does not accept responsibility
    for the adequacy or the accuracy of this release. We seek Safe Harbor.

    Caution concerning forward-looking information

    This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable securities laws.
This information and statements address future activities, events, plans,
developments and projections. All statements, other than statements of
historical fact, constitute forward-looking statements or forward-looking
information. Such forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate," "plan,"
"expect," "believe," "estimate," "intend" and similar terminology, and reflect
assumptions, estimates, opinions and analysis made by management of Module in
light of its experience, current conditions, expectations of future
developments and other factors which it believes to be reasonable and
relevant. Forward-looking information and statements involve known and unknown
risks and uncertainties that may cause Module's actual results, performance
and achievements to differ materially from those expressed or implied by the
forward-looking information and statements and accordingly, undue reliance
should not be placed thereon. Risks and uncertainties that may cause actual
results to vary include but are not limited to the speculative nature of
mineral exploration and development, including the uncertainty of reserve and
resource estimates; operational and technical difficulties; the availability
of suitable financing alternatives; fluctuations in gold and other commodity
prices; changes to and compliance with applicable laws and regulations,
including environmental laws and obtaining requisite permits; political,
economic and other risks; fluctuations in foreign exchange rates; as well as
other risks and uncertainties which are more fully described in our annual and
quarterly Management's Discussion and Analysis and in other filings made by us
with Canadian securities regulatory authorities and available at Module disclaims any obligation to update or revise any
forward-looking information or statements except as may be required by law.

For further information:

For further information: Brent Jones, Manager of Investor Relations,
E-mail:, Phone: (360) 332-4653, Fax: (360)

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890