Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announces that it has granted its directors and employees non-transferable options to purchase a total of 1,750,000 shares in the capital stock of the Company at a price of $0.26 per share exercisable on or before April 11, 2011. These options were granted pursuant to the existing stock option plan and of this total 418,495 options are issued subject to shareholders approval, given that they exceed the maximum number of options permitted under the current plan.
In addition, 500,000 options have been granted at a price of $0.26 per share in consideration for investor relations services, subject to the approval of shareholders and regulatory authorities. One quarter of these options shall vest during each calendar quarter over the period of 12 months following the date of grant thereof
The option price was determined in each case based on the allowable discount on the closing price of $0.35 on April 10, 2006.
For additional information, please contact:
Golden Tag Resources Ltd.
Marc A. Carrier, President & CFO
Ph: (514) 426-8542
Fax: (514) 426-8543
Cautionary Statement: Statements in the release that are "forward looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. For a discussion of the risk factors that are inherent in the Mining Industry see our public filings at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.