Simberi Mining Corporation

Simberi Mining Corporation

November 07, 2006 11:42 ET

Simberi Mining Corporation Grants Stock Options

TORONTO, ONTARIO--(CCNMatthews - Nov. 7, 2006) - Simberi Mining Corporation ("Simberi")(TSX VENTURE:SAU) announces that subject to regulatory approval, it has granted 2,350,000 incentive stock options to an officer and certain consultants of Simberi. The stock options, which vest quarterly over an 18 month period, are exercisable at a price of $0.12 for a period of 5 years from the date of grant.

About Simberi:

Simberi is a junior resource company focused on the exploration and acquisition of developed low cost precious and base metal projects internationally. The company's main exploration project is the Kakanda Project located in the DRC. Simberi is also involved in several joint venture projects in Western Australia. The company's objective is to aggressively explore the potential for investing in a number of precious and base metal properties with the aim to become a metal producer.

On behalf of the Board of Directors

"Michael Newbury"


This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

Contact Information

  • Simberi Mining Corporation
    Mike Newbury
    President and CEO
    (416) 603-7200
    (416) 603-9200 (FAX)