Alhambra Resources Ltd.
TSX VENTURE : ALH

Alhambra Resources Ltd.

January 24, 2011 08:00 ET

Alhambra Resources Ltd.: Granting of Stock Options

CALGARY, ALBERTA--(Marketwire - Jan. 24, 2011) - Alhambra Resources Ltd. (TSX VENTURE:ALH) ("Alhambra" or the "Corporation") announces that the Corporation has granted stock options to purchase up to and including 3,050,000 common shares of the Corporation to directors, officers, employees and consultants.

Such stock options shall have an exercise price of $1.05 per common share, shall have a term of five years from the date of grant, and shall vest as to twenty-five percent (25%) immediately and thereafter as to twenty-five percent (25%) on dates which are six (6) months, twelve (12) months and eighteen (18) months from the date of grant.

The granting of these stock options is subject to the approval of the TSX Venture Exchange and is subject to a four (4) month hold period.

Post the granting of these stock options, combined with the January 21, 2010 expiry of 1,725,000 previous stock options, the Corporation will have 9,056,250 stock options outstanding.

ABOUT ALHAMBRA

Alhambra is a Canadian based international exploration and gold production corporation celebrating its eighth year of operations in the Republic of Kazakhstan. Alhambra holds exploration and exploitation rights to a 2.7 million acre (11,000 km2), 100% owned, license called the Uzboy Project, located in the Northern Kazakhstan Metallogenic Province which hosts numerous world-class gold deposits. Over 100 mineral targets, including 5 advanced exploration plays are contained within the Uzboy Project.

Alhambra common shares trade in Canada on The TSX Venture Exchange under the symbol ALH, in the United States on the Over-The-Counter Pink Sheets Market under the symbol AHBRF and in Germany on the Frankfurt Open Market under the symbol A4Y. The Corporation's website can be accessed at www.alhambraresources.com.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alhambra Resources Ltd.
    Ihor P. Wasylkiw
    VP & Chief Information Officer
    +1 (403) 508-4953
    or
    Alhambra Resources Ltd.
    Don D. McKechnie
    Vice President Finance & CFO
    +1 (403) 228-2855
    www.alhambraresources.com