Moto Goldmines Limited
TSX : MGL
AIM : MOE

Moto Goldmines Limited

March 06, 2008 00:14 ET

Moto Goldmines Limited-Grant of Options to a Director

PERTH, WESTERN AUSTRALIA--(Marketwire - March 6, 2008) - The Directors of Moto Goldmines Limited (the "Company") (TSX:MGL)(AIM:MOE), announce the granting of 465,961 stock options (the "Options") over its common shares to the Chairman, Sam Jonah KBE , as of March 5, 2008.

On January 31, 2008 the Company announced that it had completed the acquisition of the interest of its former joint venture partner, Societe d'Organisation, de Participation et de Management ("Orgaman") in the Moto Gold Project. As noted in this announcement, the Company issued to Orgaman 9,319,211 common shares in the Company, as of January 31, 2008. Under the existing agreement with the Company, Sam Jonah is entitled to be issued options equal to 5% of any material share issuance by the Company. Accordingly, the company has issued Sam Jonah with 465,961 stock options representing 5% of the share issuance to Orgaman.

The Options were granted pursuant to the Company's Stock Option Plan at an exercise price of C$5.40. The Options will expire six years form the date of grant will vest as set out below:



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Number of Options Vesting Date Expiry Date
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155,321 March 5, 2009 March 5, 2014
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155,320 March 5, 2010 March 5, 2014
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155,320 March 5, 2010 March 5, 2014
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Additional Notes:

Sam Jonah holds options to purchase a total of 3,559,330 common shares (comprising 1,750,000 options exercisable at C$2.60, 400,000 options exercisable at C$3.15, 275,000 options exercisable at C$7.65, 668,639 options exercisable at C$2.97 and the options noted in the press release above of 465,691 exercisable at C$5.58).

In addition, Sam Jonah has acquired 2,717,874 common shares in the Company as part of a private placement announced by the Company on December 31, 2007 and issued to Sam Jonah on January 31, 2008.

ABN 113 274 874

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