TORONTO, ONTARIO--(Marketwired - May 20, 2014) - Rupert Resources Ltd. ("Rupert" or "the Company") (TSX VENTURE:RUP) today announced that that it has granted an aggregate of 250,000 options to Mr. Arthur Millholland, P.Geo, a director of the Company. These options are exercisable over a period of five years at a price of $0.18 per common share, which reflects the closing price of Rupert on May 16, 2014.
This option grant is an important step in revitalising Rupert in 2014. As the newest addition to the team of directors and senior management (see press release, March 4, 2014), Mr. Millholland will now be more closely aligned with shareholder priorities and incentivised in his efforts to translate his expertise and drive into shareholder wealth.
The options are granted pursuant to the Company's stock option plan and were approved by the Compensation Committee at a special meeting held on May 20, 2014.
Please see www.rupertresources.com.
About the Company
Rupert Resources is a Canadian based gold exploration company. Rupert's objective is to evaluate the developmental potential of its two assets - the Surf Inlet property in British Columbia and the Gold Centre property in Ontario - in parallel with the objective of finding other investment opportunities in near term producing assets through active searches for development projects. Rupert holds a 100% interest in the Gold Centre property, which has the distinction of being one of the best-positioned exploration land packages within the entire Red Lake gold mining camp. The Gold Centre property is immediately adjacent to and on trend with the world's richest gold mine, Goldcorp, now working within 600m of Rupert's boundary.
In 2004, Rupert commenced an 11,900m drill program on the Gold Centre property consisting of two main holes and several daughter holes. Although, at the 2008 conclusion of this program no significant gold was found in that small area in the South West portion of the property, strong geological features were encountered. On the heels of a recent $510,000 private placement, the new Summer 2013 exploration program has been completed. A geophysical program delineated three strong I.P. anomalies, with two located in the northwestern portion, and one in the eastern portion of the property. They have been recommended as diamond drill targets. See press release, November 14, 2013.
Michael Sutton, P.Geo., a Director of Rupert Resources Ltd., and a Qualified Person ("QP"), has reviewed and approved the technical content of this news release.
ON BEHALF OF THE BOARD
M. Kostuik, President and CEO
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Cautionary Note Regarding Forward-Looking Statements
This Press Release contains statements that constitute "forward-looking statements", including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.