Milner Consolidated Silver Mines Ltd.

October 17, 2008 16:41 ET

Milner Announces Grant of Stock Option

PENETANG, ONTARIO--(Marketwire - Oct. 17, 2008) - MILNER CONSOLIDATED SILVER MINES LTD. (Milner) (TSX VENTURE:MCA) announces that options to acquire a total of 111,000 common shares of Milner at an exercise price of $0.25 per share expiring on October 16, 2013 have been granted to 3 directors of Milner. Each director is entitled to 37,000 common shares. The market price at close of previous day was $0.20. The grant of this option is in accordance with the existing stock option plan.

The grant of these options replaces the 111,000 common share options that expired on May 26, 2008. The exercise price of the expired options was $0.175 per share.

The grant of the incentive stock options is subject to regulatory approval.

Milner Consolidated Silver Mines Ltd. is a junior resource company, quoted for trading on the TSX Venture Exchange under the symbol MCA. There are currently 7,438,506 shares issued and outstanding in Milner Consolidated Silver Mines Ltd.

On Behalf of the Board,

D.J. Bazinet, President

Shares Outstanding: 7,438,506

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

Contact Information

  • Milner Consolidated Silver Mines Ltd.
    Deborah Bazinet
    (705) 533-3430