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2004 Press Releases
TSX.V : VMI
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| | Tue Mar 2, 2004
Q1 Work Programs To Commence/Stock Option Plan Amended
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| | Vancouver, March 2, 2004, Vault Minerals Inc. (the "Company") (VMI-TSX.V) has scheduled programs for Q1/04 on both its Lebel gold project in the prolific Kirkland Lake, Ontario gold camp (over 40 million ounces of gold produced to date) and its Attawapiskat, Ontario diamond project.
At the Lebel project additional diamond drilling is scheduled to follow up the December 2003 Phase 1 program which encountered values up to 30.8 grams/tonne (0.9 oz./ton) over 1.38 meters (4.3 feet).
The Attawapiskat diamond property 40 to 70 kilometers southeast of the De Beers Victor pipe (production expected in 2007) covers approximately 500 sq. kilometers (200 sq. miles). An airborne magnetic survey is planned for mid March, 2004, (inclement weather resulted in the original mid February 2004 start date being delayed), over a portion of the Company's claim block.
The Company's incentive stock option plan dated June 29, 2003, has been amended to increase the common shares granted to certain officers, directors, employees and consultants of the company to a total of 1,764,094. The options are exercisable for two years at a price of $0.25 per share. In addition, the previously granted incentive stock options have been amended to reduce the exercise price to $0.25 per share.
The amended incentive stock option plan and reduced exercise price for existing incentive stock options are subject to approval by the Company's disinterested shareholders and the TSX Venture Exchange.
On Behalf of the Board
VAULT MINERALS INC.
"J. Michael Mackey"
J. Michael Mackey, President
For more information contact Investor Relations at (604) 613-5778, toll free 1-877-871-8777 or via email at ir@vaultminerals.com and visit our website at www.vaultminerals.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. |
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| | You can view the Next Press Releases item: Thu Jun 3, 2004, More Positive Diamond Drill Results from Lebel Gold Property, Kirkland Lake, Ontario
You can view the Previous Press Releases item: Wed Jan 28, 2004, Winter Exploration Plans Finalized
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