Prominex Resource Corp.

Prominex Resource Corp.

May 17, 2006 17:07 ET

Prominex Resource Corp.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) -

Mr. Allen Rose reports:

Prominex Resource Corp. (TSX VENTURE:PXR) announced today that it has granted Incentive Stock Options in the aggregate of 800,000 shares at a price of $0.30 per share exercisable on or before May 15, 2009. The options are non-transferable. Any shares issued to executives, employees and "associated consultants" (as that term is defined in B.C. Instrument 45-105) pursuant to the exercise of options held by them will be subject to a four month hold period commencing on the date of grant of the options.

These options are being granted under the Company's 2005 Incentive Stock Option Plan as approved by the Shareholders on October 27, 2005 and by the TSX-Venture Exchange on September 27, 2005 (the "Plan"). The Company has implemented a rolling stock option plan whereby a maximum of 10% of the issued shares (May 16 - 22,284,505) will be reserved for issuance under the Plan.


T. Allen Rose, Director

This release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements'. 'Forward-looking statements' are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. 'Forward-looking statements' in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information