Gossan Resources Limited

Gossan Resources Limited

June 15, 2009 08:30 ET

Gossan Awards Incentive Stock Options

WINNIPEG, MANITOBA--(Marketwire - June 15, 2009) - Gossan Resources Limited (TSX VENTURE:GSS)(FRANKFURT/FREIVERKEHR XETRA:GSR) has awarded 526,000 incentive stock options exercisable at $0.15 per common share to officers, directors and consultants of the Company. This grant of options is in compliance with the terms of the Company's Stock Option Plan and remains subject to the acceptance of the TSX Venture Exchange.

Five officers and directors were granted a total of 280,000 options and a consultant was granted 160,000 options. This grant of options - which primarily replaces expiring options - has an expiry date of March 28, 2012. Five directors were also granted 86,000 options expiring June 28, 2009.

Gossan Resources Limited is engaged in mineral exploration and development in Manitoba and northwestern Ontario. It has a well-diversified portfolio of properties hosting gold, platinum group and base metals, as well as the specialty and minor metals, tantalum, lithium, chromium, titanium and vanadium. The Company also has a large deposit of magnesium-rich dolomite, the world-wide rights to the Zuliani magnesium production process, and a silica sand deposit. Gossan trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and has 29,020,900 common shares outstanding.

Neither 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.

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