Pele Mountain Resources Inc.

Pele Mountain Resources Inc.

June 08, 2015 15:00 ET

Pele Mountain Announces Option Grants

TORONTO, ONTARIO--(Marketwired - June 8, 2015) - Pele Mountain Resources Inc. (TSX VENTURE:GEM)(OTCQX:GOLDF) ("Pele" or the "Company") announced today that it has granted a total of 1,106,250 incentive stock options to members of Management and the Board of Directors of the Company, which are exercisable at $0.05 per share and expire on December 31, 2019.

The Company also granted an option to purchase 31,250 shares of Pele to a consultant of the Company which are exercisable at $0.05 per share and expire on December 31, 2019.

All options granted and any common shares issued upon their due exercise will be subject to a statutory four-month hold period. The granting of the options are subject to regulatory acceptance of applicable filings.

About Pele

Pele Mountain Resources is focused on the sustainable development of a low cost, early to market, critical rare earth supply by processing high-grade rare earth bearing monazite in Elliot Lake, Ontario, at the same location as its Eco Ridge Mine Rare Earth and Uranium Project. With excellent regional infrastructure and strong local support, Elliot Lake is an ideal location for production of a safe, secure, and reliable supply of critical rare earths and uranium. Pele shares are listed on the TSX Venture Exchange under the symbol "GEM" and on the OTCQX under the symbol "GOLDF".

Neither the 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.

Common Shares Outstanding: 188,793,749

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