Goldstrike Resources Ltd.
TSX VENTURE : GSR

Goldstrike Resources Ltd.

August 05, 2011 21:21 ET

Goldstrike Retains Investor Relations Firm, Sets Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2011) - Goldstrike Resources Ltd. (TSX VENTURE:GSR) has retained the Vancouver-based firm of King James Capital Corporation to conduct media awareness and investor relations programs on behalf of the Company.

Headed by Mr. Jeff Stuart, King James is a media-relations specialist focused on the natural resource sector. Mr. Stuart has worked as a licensed Investment Advisor and with several public companies. He has been involved in arranging financing for mining exploration and development projects in Canada, the United States, Mexico, Venezuela and Guyana. He has extensive financial community contacts throughout North America and Europe, and will assist the Company in communicating the results of its 2011 exploration program in the Yukon to the investment community.

The Company has agreed to pay King James Capital a fee of $1,500 per month on a month-to-month basis, and has granted it options to purchase up to 100,000 common shares at $0.70 per share for a period of five years, subject to earlier termination in accordance with their terms. The options will vest and become exercisable as to 25% on the last day November 5, 2011 and as to an additional 25% each three months thereafter.

The Company has also granted incentive stock options exercisable to purchase up to an aggregate of 3,290,000 shares of the Company to the Company's Chief Financial Officer and to several consultants to the Company. 2,900,000 options are exercisable at the price of $0.70 per share until August 5, 2021, subject to any earlier termination in accordance with their terms. The balance of the options will vest as to 8.34% each three months over 36 months and, subject to vesting, will be exercisable at the price of $0.70 per share until August 5, 2016, subject to any earlier termination in accordance with their terms.

All option grants are subject to acceptance by the TSX Venture Exchange. Shares issued pursuant to the exercise of such options will not be subject to resale restrictions.

Goldstrike is a well-financed mineral exploration company with twenty-four discrete exploration projects in the Yukon. For more detailed information on these properties and the Company, refer to Goldstrike's web site at www.goldstrikeresources.com.

GOLDSTRIKE RESOURCES LTD.

Reimar Koch, President

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

  • Goldstrike Resources Ltd.
    Jeff Stuart
    (604) 681-1820
    (604) 681-1864 (FAX)
    info@goldstrike.com
    GoldStrikeResources.com