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Montreal, Quebec - October 16, 2012, Aurvista Gold Corp. ("Aurvista" or the "Company") (TSX-V: AVA) wishes to inform its shareholders that the Board of Directors has approved the issuance of incentive options to certain directors, officers and consultants of the Company. The Company announces that it has granted an aggregate of 2,150,000 options to purchase common shares of the Company exercisable at a price of $0.40 per share for a period of three years, to certain directors, officers and consultants of the Company. The options are priced above the current trading price of Aurvista shares on the TSX-V to demonstrate the Board's ongoing commitment to creating shareholder value. These incentive options, as well as the terms and conditions of their exercise, are governed by the Company's Stock Option Plan and are in accordance with policies within the TSX Venture Exchange. The stock options will be subject to a vesting schedule with 1/3 to vest immediately, 1/3 to vest one year from the date of grant and the remaining 1/3 to vest two years from the date of grant. The Board also announces that it approved the issuance of 500,000 incentive options upon the hiring of a certain officer earlier in January of 2012, in accordance with the officers employment agreement, also exercisable at a price of $.40 per share, and for a period of five years.
About Aurvista
Aurvista Gold Corporation is a junior gold exploration and development company. Aurvista's principal asset is the Douay Gold Project, consisting of 298 contiguous claims totaling approximately 12,704 hectares located on the Casa Berardi Fault in northern Quebec. The Douay Project contains a NI 43-101 compliant Mineral Resource of 115 million tonnes at 0.75 g/t gold (2.8 million ounces of gold) in the Inferred category and 2.7 million tonnes at 2.76 g/t gold (238,433 ounces of gold) in the Indicated category, at a cut-off of 0.3 g/t gold.
Details of Aurvista's Douay Project can be viewed at the Company's website at www.aurvistagold.com.
READER ADVISORY
Statements in this press release may contain forward-looking information including, but not limited to, statements with respect to the Company's proposed drill programs. In addition, information concerning the interpretation of drill results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including but not limited to, the ability of the Corporation to raise sufficient capital to pay the exploration and development costs on the properties, the availability of skilled labour, availability of equipment, and future capital and operating costs. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Factors that could cause actual results to differ materially from any forward-looking information include, but are not limited to, the risks of capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, commodity price and exchange rate fluctuations, the uncertainty of estimates and projections relating to production, health, safety and environmental risks, delays in the development of projects, uncertainties relating to the interpretation of the geology, unanticipated operational or technical difficulties and other factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
For further information:
Aurvista Gold Corp.
Richard Adams, President and CEO
Telephone:(416) 504-3588
Facsimile:(416) 504-4129
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 PRESS RELEASE
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