Goldmark Minerals Ltd.
TSX VENTURE : GMK

Goldmark Minerals Ltd.

June 08, 2007 16:32 ET

Goldmark Announces Grant of Incentive Stock Options

CALGARY, ALBERTA--(Marketwire - June 8, 2007) - On June 7, 2007, the Board of Directors of Goldmark Minerals Ltd. (TSX VENTURE:GMK) approved the granting of 912,500 options to purchase common shares to its directors and officers, as follows:



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No. of
Position of Optioned Exercise
Name of Optionee Optionee Date of Grant Shares Price Expiry Date
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Director /
Peter Barker CEO June 7, 2007 150,000 0.295 June 6, 2012
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Director /
Gerhard Jacob President June 7, 2007 250,000 0.295 June 6, 2012
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Corporate
Karen Hill Secretary June 7, 2007 112,500 0.295 June 6, 2012
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Director /
Charles A. Teare CFO June 7, 2007 100,000 0.295 June 6, 2012
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Director /
Robert W. Lamond Chairman June 7, 2007 100,000 0.295 June 6, 2012
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Jorg Reich Director June 7, 2007 100,000 0.295 June 6, 2012
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Glen Phillips Director June 7, 2007 100,000 0.295 June 6, 2012
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The Board of Directors has also approved an amendment to its existing stock option plan. The amended plan will permit the issuance of options to purchase up to a rolling 10% of the outstanding shares of the Corporation. Under the proposed amendment, the current number of outstanding options to purchase shares would be 2,030,142.

The stock options granted are subject to the approval by the shareholders of the amended stock option plan and the alteration of the share capital, which will allow for unlimited authorized capital. The resolutions will be proposed at the Annual and Special Meeting of shareholders to be held on July 12, 2007.

Goldmark is a Canadian public company focused on gold and other mineral exploration, with offices located in Calgary, Alberta and Quito, Ecuador. Shares are listed on the TSX Venture Exchange under the symbol GMK.

ADVISORY: Certain information regarding the Company in this News Release including management's assessment of future plans and operations, the use of proceeds from the offering and the anticipated closing date of the offering, may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, capital expenditure costs, including drilling, completion and facilities costs, unexpected decline rates in wells, wells not performing as expected, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhausted. Additional information on these and other factors that could effect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at the Company's website (www.goldmarkminerals.com). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

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

Contact Information

  • Goldmark Minerals Ltd.
    Peter Barker
    Chief Executive Officer
    (403) 299-0357
    or
    Goldmark Minerals Ltd.
    Robert W. Lamond
    Chairman of the Board
    (403) 269-9889
    (403) 269-9890 (FAX)
    Website:www.goldmarkminerals.com