Moto Goldmines Limited
TSX : MGL
AIM : MOE

Moto Goldmines Limited

December 17, 2007 08:15 ET

Moto Goldmines-Stock Options Granted to Directors and Employee

PERTH, WESTERN AUSTRALIA--(Marketwire - Dec. 17, 2007) - Moto Goldmines Limited ("Moto" or the "Company") (TSX:MGL)(AIM:MOE) announced today that options to acquire an aggregate of 918,639 Common Shares of the Company have been granted to certain directors and one other employee of the Company. All options that have been issued have an exercise price of C$2.97 per share and have an Expiry Date of December 16, 2013, details of which are as follows:



Optionee Number of Options Vesting Date

A senior employee 100,000 29 October 2008

50,000 29 April 2009

Louis Watum (1) 100,000 Immediately

Samuel Esson Jonah, KBE (2) 668,639 Immediately


(1) Mr. Watum is a director and the Executive General Manager - DRC Operations of the Company. Mr. Watum held options to acquire 150,000 Common Shares of the Company at C$7.65 prior to this most recent award, now giving him a total entitlement of options to acquire an aggregate of 250,000 Common Shares.

(2) Mr. Jonah is the Chairman of the Board of Directors of the Company. Mr. Jonah held options to acquire 2,425,000 Common Shares of the Company (1,750,000 at C$2.60, 400,000 at C$3.15 and 275,000 at C$7.65) prior to this most recent award, now giving him a total entitlement of options to acquire an aggregate of 3,093,639 Common Shares.

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