Mengold Resources Inc.

Mengold Resources Inc.

April 11, 2007 13:27 ET

Mengold Awards Incentive Stock Options

MONTREAL, QUEBEC--(CCNMatthews - April 11, 2007) - Mengold Resources Inc. (TSX VENTURE:MNI) has awarded 810,000 incentive stock options to officers and directors of the Company and 100,000 incentive stock options to a geological consultant. All of the stock options, which are subject to vesting over an 18-month period, are exercisable at $0.30 per common share and expire on May 31, 2010. This grant of options is in compliance with the terms of the Company's Stock Option Plan however the award remains subject to the acceptance of the TSX Venture Exchange.

Mengold is engaged in mineral exploration for precious and base metals. The Company is currently conducting exploration programs at the Burchell Lake and Goldcreek Properties, both prospective for gold, copper, and zinc, in the Shebandowan area of Ontario. Mengold also holds two properties in Quebec, the Mountain River Property near Sainte-Anne-du-Lac, and the Thetford Property in the Eastern Townships. Mengold has 20,683,534 common shares outstanding (26,158,984 shares fully diluted).

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

Contact Information

  • In Canada
    Mengold Resources Inc.
    Joel Scodnick, President and Chief Executive Officer
    (705) 522-4439 or (807) 629-7516
    (705) 522-8694 (FAX)
    Mengold Resources Inc.
    Douglas G. Reeson
    C.F.O. and Director
    (416) 533-0323
    (416) 533-2890 (FAX)
    In Europe
    Mengold Resources Inc.
    W. Ian L. Forrest, Chairman and Director (FAX)