Detector Exploration Ltd.

July 26, 2005 18:25 ET

Detector Announces Additional Stock Option Grants

CALGARY, ALBERTA--(CCNMatthews - July 26, 2005) - DETECTOR EXPLORATION LTD. (TSX VENTURE:DEX) ("Detector") announces that Detector is granting stock options to 3 directors, officers and employees on the following terms:

(a) the total number of Common Shares to be made available upon exercise of the new options is 350,000;

(b) the exercise price for the options is $0.30 per share (or such other price approved by TSX-V based on allowable discounts from recent trading prices).

Detector is an oil and gas corporation whose shares are listed for trading on TSX Venture Exchange Inc.

Detector has determined that Detector's "public float" (the number of shares outstanding not held by directors, officers, promoters, 10% shareholders or their affiliates, spouses, and other associates and not under any hold period or escrow restrictions) is 4,286,668 based on information provided to Detector by its insiders.

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

Contact Information

  • Detector Exploration Ltd.
    Ronald E. Alexander
    (403) 264-1880
    Detector Exploration Ltd.
    #650, 520 - 5th Avenue S.W.
    Calgary, Alberta, T2P 3R7
    (403) 265-9105 (FAX)