Mengold Resources Inc.
TSX VENTURE : MNI

Mengold Resources Inc.

July 16, 2008 13:11 ET

Mengold Awards Incentive Stock Options

MONTREAL, QUEBEC--(Marketwire - July 16, 2008) - Mengold Resources Inc. ("Mengold") (TSX VENTURE:MNI) has awarded 200,000 incentive stock options to an officer of the Company. The stock options, which are subject to vesting over an 18-month period, are exercisable at $0.20 per common share and expire in 20 months on March 15, 2010. This grant of stock options is in compliance with the terms of the Company's stock option plan.

Mengold is engaged in mineral exploration for precious and base metals. The Company has recently completed a 4,630m diamond drilling program at the Burchell Lake and Goldcreek Properties, both prospective for gold, copper, zinc, nickel, and molybdenum, in the Shebandowan area of Northwestern Ontario. Mengold has 37,806,088 common shares outstanding.

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)
    Email: scodnick@mengold.ca or scodnick@netspectrum.ca
    or
    Mengold Resources Inc.
    Douglas Reeson, C.F.O. and Director
    (416) 533-9664
    (416) 533-2890 (FAX)
    Email: reeson@mengold.ca
    or
    Noble Investment
    Dan Patience, Investor Relations
    1-800-499-2388
    Email: noblehouse@shaw.ca
    or
    In Europe
    Mengold Resources Inc.
    W. Ian L. Forrest, Chairman and Director
    011.41.22.809.9511
    011.41.22.899.9501 (FAX)
    Email: forrest@mengold.ca
    Website: www.mengold.ca