Shear Minerals Ltd.

Shear Minerals Ltd.

April 24, 2008 17:49 ET

Shear Minerals Ltd. Announces Grant of Options

EDMONTON, ALBERTA--(Marketwire - April 24, 2008) - Shear Minerals Ltd. (TSX VENTURE:SRM) ("Shear") today announced, subject to regulatory approval, that the Board of Directors has granted stock options pursuant to Shear's incentive stock option plan to certain directors, officers, employees and consultants to acquire an aggregate of 2,920,000 common shares of Shear("Common Shares"), of which stock options to acquire an aggregate of 2,100,000 Common Shares were granted to directors and officers. The stock options granted to the Chief Financial Officer, employees and consultants are exercisable at a price of $0.50 per Common Share and the stock options granted to the directors are exercisable at a price of $0.65 per Common Share. The options will expire five years from the date of the grant.

Shear Minerals Ltd. is a Canadian-based exploration company focused on diamond exploration in the Canadian North where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of ten diamond projects, six of which are drill-ready. The Company has advanced its 58.14%-owned Churchill Diamond property in Nunavut from a conceptual grassroots project to an evolving kimberlite district.

On behalf of the Board


Pamela Strand, P. Geol., President

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

Contact Information

  • Shear Minerals Ltd.
    Pamela Strand, P. Geol.
    (780) 435-0045 or Toll Free: 1-866-298-9695