Ungava Mines Inc.
OTC Bulletin Board : UGVMF

August 08, 2008 10:32 ET

Ungava Mines Re-Issues Options

TORONTO, ONTARIO--(Marketwire - Aug. 8, 2008) - Ungava Mines Inc. (the "Corporation") (OTCBB:UGVMF) announces that its board of directors has cancelled the 9,000,000 previously outstanding stock options held by directors, officers and consultants. A total of 9,000,000 stock options, exercisable at $0.25 each, having the same expiry dates as the cancelled options, were granted to the parties who had been option holders previously, each party receiving a number of options equal to the number of options previously held.

Caution Concerning Forward-Looking Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Ungava Mines Inc. believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as may be required by applicable securities laws, Ungava Mines Inc. disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Issued and Outstanding: 92,688,976 Common Shares

Contact Information

  • Ungava Mines Inc.
    Glen Erikson
    President
    (905) 274-3164