Bridge Resources Corp.
TSX VENTURE : BUK

Bridge Resources Corp.

December 19, 2008 18:34 ET

Bridge Resources Corp. Provides Details of Option Grant

CALGARY, ALBERTA--(Marketwire - Dec. 19, 2008) - Bridge Resources Corp. ("Bridge" or the "Corporation") (TSX VENTURE:BUK) has approved the granting of options to acquire 2,860,000 common shares of the Corporation ("Common Shares") to various directors, officers, employees and consultants. Of this amount 2,150,000 of the stock options were issued to directors and officers of the Corporation and 50,000 of the stock options were issued to DSK Consulting Ltd. which firm provides investor relations services for the Corporation. The options have an exercise price of $0.30 per Common Share and expire on December 22, 2013.

The Corporation has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the granting of the options. The options to DSK Consulting Ltd. vest in accordance with TSX Venture Exchange guidelines and will expire 30 days after the expiration of the contract for investor relations services.

Bridge now has a total of 131,648,042 Common Shares outstanding, warrants to acquire 69,726,706 Common Shares at an average price of approximately $1.05 per Common Share and options to acquire 8,350,500 Common Shares outstanding at an average price of approximately $0.86 per Common Share. The Corporation has in place a 10% rolling stock option plan and is therefore eligible to grant a total of 13,164,804 options leaving a total of 4,814,304 options unallocated under the plan.

Statements in this press release may contain forward-looking information including expectations of future operations, commerciality of any gas discovered, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

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 release.

Contact Information