Taipan Resources Inc.

Taipan Resources Inc.

October 09, 2014 17:31 ET

Taipan Resources Inc. Announces Stock Option Grant, Issuance of Shares and Appointment of Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 9, 2014) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) announces that it has granted an aggregate of 2,150,000 incentive stock options, including 1,500,000 stock options to be issued to directors and officers of the Company. The stock options are exercisable into common shares of the Company for a period of five years at a price of $0.36 per share. These options have been granted pursuant to the Company's Stock Option Plan and are subject to vesting requirements. In addition, the Company has issued an aggregate of 448,698 common shares to Maxwell Birley, the Company's Chief Executive Officer, in accordance with the terms of his consulting agreement.

The Company also announces that Ms. Christine Thompson has resigned as the Corporate Secretary of the Company and Mr. Theo van der Linde, CA has been appointed in her place.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent African oil and gas exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres gross / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd., a subsidiary of Afren plc.

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.

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