(via Thenewswire.ca)
TORONTO, CANADA - June 1, 2012 - Thomas Skimming, CEO of MacMillan Minerals Inc. (TSX-V:MMX) announces that the board of directors has granted 4,100,000 stock options exercisable at $0.10 for a period of three years to June 1, 2015. The exercise price was set at an eleven percent premium to the May 31, 2012 closing share price of $0.09 and at a twenty-five percent premium to the $0.08 paid by investors in the brokered private placement financing that closed in April 2012.
Insiders consisting of four directors, two of whom are officers, and a senior officer were collectively granted 3,300,000 stock options. The remaining 800,000 options were granted to seven consultants to the Company.
The stock options are granted by the board as an incentive to the management and consultants to the Company and will vest over the next sixteen months to reflect the contributions of these individuals over time.
The 10% rolling stock option plan as approved by shareholders at the March 30, 2012 annual meeting of shareholders currently allows up to 5,442,737 stock options. There were no stock options outstanding prior to this grant and there are currently 1,342,737 stock options remaining available for grant in the approved 10% rolling plan.
MacMillan is an exploration company with a focus on gold and silver exploration on numerous properties in Mexico. MacMillan has been listed and trading as MMX on the TSX Venture Exchange since May 23, 2012. The Company's Listing Application Form 2B dated March 29, 2012 may be viewed on SEDAR. The Company's NI43-101 Technical Report dated February 27, 2012 titled "Geological Report and Summary of Field Examination, Las Cucharas Project" may also be viewed on SEDAR. The Company is currently conducting a drill program on the La Raizura Target at the Las Cucharas Project as described in the recommended work program section of the NI43-101 technical report.
For additional information, contact: Tel: (416) 867-1101 Fax: (416) 867-1222
Email: macmillanminerals@ca.inter.net
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