Gold Canyon Resources Inc. Grants Incentive Stock Options

Strategic Insights -

Gold Canyon Resources Inc., a Vancouver-based mineral and precious metals exploration company, has announced the granting of incentive stock options to certain directors, senior officers, and consultants. The options, totaling 2,350,000 common shares with an exercise price of $0.10 per share, expire on February 13, 2011. This move is part of the Company's Rolling Stock Option Plan, which was re-affirmed by shareholders in April 2008 and accepted by the Exchange. The Company has a significant presence in the Red Lake Mining District of Ontario, Canada, and a 100% interest in the Cordero Gallium Project in Nevada, USA, through its wholly owned subsidiary, Gold Canyon Resources USA Inc.

Key Takeaways:

  • Gold Canyon Resources Inc. has granted incentive stock options to purchase 2,350,000 common shares at an exercise price of $0.10 per share.
  • The options expire on February 13, 2011, as part of the Company's Rolling Stock Option Plan.
  • The plan was re-affirmed by shareholders in April 2008 and accepted by the Exchange.
  • Gold Canyon has a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and Favourable Lake Poly-metallic property in the Red Lake Mining District of Ontario, Canada.
  • The Company also controls a 100% interest in the Cordero Gallium Project in Humboldt County, Nevada, USA, through its wholly owned subsidiary, Gold Canyon Resources USA Inc.
  • Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.

Statistics:

  • 2,350,000 common shares were granted to directors, senior officers, and consultants as incentive stock options.
  • The exercise price of the options is $0.10 per share.
  • The options expire on February 13, 2011.
  • Gold Canyon has a significant presence in the Red Lake Mining District of Ontario, Canada.
  • The Company has a 100% interest in the Cordero Gallium Project in Nevada, USA.
  • The Joint Exploration Agreement with JOGMEC was signed in January 2009.

Sources:

  • Gold Canyon Resources Inc.
  • Source: Gold Canyon Resources Inc. (Marketwire, February 13, 2009).