Gossan Resources Limited
FRANKFURT : GSR
TSX VENTURE : GSS

Gossan Resources Limited

July 06, 2005 10:13 ET

Gossan Awards Incentive Stock Options

WINNIPEG, MANITOBA--(CCNMatthews - July 6, 2005) - Gossan Resources Limited (TSX VENTURE:GSS)(Frankfurt/Freiverkehr:GSR) has awarded 150,000 incentive stock options to officers and directors of the Company and 30,000 incentive stock options to employees. This award is in compliance with the terms of the Company's Stock Option Plan. All of these stock options are exercisable into common shares at $0.35 per share for a term expiring June 30, 2008. In addition, the Company awarded 50,000 incentive stock options exercisable into common shares at $0.35 per share for a term expiring June 30, 2007 to a consultant. The award of these stock options remains subject to the acceptance of the TSX Venture Exchange.

Gossan Resources Limited is engaged in mineral exploration in Manitoba and northwestern Ontario. It has a well-diversified portfolio of properties hosting gold, platinum group and base metals, as well as the specialty metals, tantalum, chromium, titanium and vanadium. The Company also has a large deposit of magnesium-rich dolomite and a silica sand prospect. Gossan trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and has 17,418,124 shares outstanding (21,273,124 shares fully diluted).

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

Contact Information

  • Gossan Resources Limited
    Douglas Reeson
    Chairman & CEO
    (204) 943-1990 or Toll Free: (800) 462-4283
    (204) 942-3434 (FAX)
    info@gossan.ca
    www.gossan.ca