Moto Goldmines Limited

Moto Goldmines Limited

August 22, 2007 03:34 ET

Moto Goldmines Ltd: AIM Rule 26 and Stock Option Update

PERTH, WESTERN AUSTRALIA--(Marketwire - Aug. 22, 2007) - Moto Goldmines Limited ("Moto") (TSX:MGL)(AIM:MOE) is pleased to announce that the information required to be disclosed in accordance with Rule 26 of the AIM Rules for Companies is available on the Company's website,

Moto also wishes to announce that 100,000 stock options (exercisable at C$4.22 each) that were issued in May 2007 have been cancelled. Another 100,000 stock options have been issued to a senior Company employee, pursuant to the Company's stock option plan, to acquire Common Shares of the Company. These options will be issued immediately, will be exercisable at $C2.99 each and will expire 6 years from the Employment Commencement Date. The options will vest in two equal tranches - (i) 50,000 options will vest 12 months after the Employment Commencement Date; and (ii) 50,000 options will vest 24 months after the Employment Commencement Date.

Nominated adviser for the purposes of AIM: RFC Corporate Finance Ltd Contact: Stephen Allen.

Contact Information