Suparna Gold Corp.
TSX VENTURE : SUG

July 20, 2011 09:00 ET

Suparna Appoints New Director and Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2011) - Suparna Gold Corp. ("Suparna" or the "Company") (TSX VENTURE:SUG) is pleased to announce that, subject to the approval of the TSX Venture Exchange, Garry Clark has agreed to join the Board of Directors of the Company. The Board of Directors of Suparna is now comprised of Michelle Gahagan, Craig Dalziel, James Newall and Garry Clark.

Mr. Clark is the Executive Director of the Ontario Prospectors Association ("OPA"). He has been a Director, Vice President or President of OPA since its formation in the early 1990s. Mr. Clark currently serves on the Minister of Mines Mining Act Advisory Committee (Ontario) and the Ontario Geological Survey Advisory Board. He graduated with an HBSc. (Geology) from Lakehead University Thunder Bay. Mr. Clark brings to the Company extensive experience in managing large scale exploration and development programs internationally including in Asia and North America. In addition to over 30 years of consulting experience, he has held geological positions with a number of mining companies and has served as a director of other TSX Venture Exchange listed companies including his current positions with Challenger Deep Resources Corp. and Elissa Resources Ltd.

Mr. Clark has been appointed to fill the vacancy created by the resignation of Mr. Nelson Baker. The Company would like to thank Mr. Baker for his services to the Company and wishes him the best in his future endeavours.

The Company also announces that it has granted stock options to acquire up to 4,850,000 common shares of the Company of which an aggregate of 3,075,000 were granted to certain directors and officers of the Company. Each of the stock options is exercisable for a five year term expiring on July 20, 2016, and exercisable until that time at a price of $0.52 per common share. On July 19, 2011, the last day that the Company's common shares traded prior to the granting of the stock options, the closing price of the common shares on the TSX Venture Exchange was $0.52 per share. One-third of the options vested immediately upon the date of grant with an additional one-third to vest on each of the dates that is nine months and eighteen months from the date of grant. The stock options, and any common shares issued upon exercise of the stock options, are subject to a four month resale restriction.

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.

Contact Information