MGold Resources Inc.

MGold Resources Inc.

November 08, 2011 15:26 ET

MGold Grants Options

MONTREAL, QUÉBEC--(Marketwire - Nov. 8, 2011) - MGold Resources Inc. ("MGold" or the "Corporation") (TSX VENTURE:MNI) has granted 50,000 incentive stock options (each an "Option") to a director of the Corporation. One-fourth of the Options will be vested on the date of the grant and one-fourth will vest over every six-month period thereafter. Each Option shall entitle its holder thereof to purchase one common share of the Corporation's share capital (each a "Common Share") at a price of $0.125 per Common Share for a period ending five years following the date of grant. This grant of Options is made in compliance with the terms of the Corporation's stock option plan and remains subject to applicable filings with the TSX Venture Exchange.

About MGold

MGold is engaged in mineral exploration for precious and base metals. The Corporation is party to an option agreement entitling it to earn a 50% undivided interest in each of the Silver Queen and Klondyke properties located in Esmeralda County, Nevada, both of which are prospective for silver and gold. The Corporation also holds a 100% interest in the Burchell Lake Property which is prospective for gold, copper, and molybdenum, in the Shebandowan area of Northwestern Ontario.

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

  • MGold Resources Inc.
    Joel Scodnick
    President and Chief Executive Officer
    (705) 522.4439
    (705) 522.8694 (FAX)

    MGold Resources Inc.
    Marc Poitras
    Chief Financial Officer and Director
    (705) 222-1700
    (705) 222-1701 (FAX)