Ruby Red Resources Inc.

Ruby Red Resources Inc.

December 07, 2007 23:59 ET

Ruby Red Resources Grants Stock Options

CALGARY, ALBERTA--(MARKETWIRE - Dec. 7) - Ruby Red Resources Inc. ("Ruby Red") (TSX VENTURE:RRX) announced today that, pursuant to its stock option plan, it has granted options to acquire up to 280,000 common shares of Ruby Red, of which 100,000 options were granted to an officer of Ruby Red. Each of the options is exercisable for a five year term expiring on December 7, 2012, and exercisable until that time at a price of $0.25 per common share, being the current market price of the common shares based on the closing price on the last trading day prior to the date of grant. Any common shares issued upon exercise of the options will be subject to a hold period expiring on April 8, 2007.

Ruby Red was formed to participate in the acquisition, exploration and development of mineral claims in the Fort Steele Mining Division of British Columbia for the purpose of exploring for precious and base metals. In addition to the properties Ruby Red has recently acquired, the Corporation holds 100% working interest in 135 mineral claims (approximately 40,000 hectares), all located within 35 kilometres of Cranbrook, B.C. in the Purcell and Rocky Mountains. Ruby Red is currently awaiting assay results from its recent drilling program on its 100% owned Zeus, Jacleg and Loose Leg properties.

Contact Information

  • Ruby Red
    Randall Tronsgard
    Vice-President, Corporate Development
    (403) 770-1346 or 1-866-257-4337