Kingston, Ontario – July 15, 2010 – Murgor Resources Inc. (TSX-V: MGR) wishes to announce that it has awarded a total of 1,125,000 incentive stock options to directors, officers and employees of the Company, exercisable at $0.11 for a period of five years from the date of grant. These options are granted subject to the Company's Stock Option Plan, which contains vesting provisions such that 33% of the options are available upon the date of grant and 33% become available every six months thereafter.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development company focused on copper, zinc and gold deposits. The company owns a 100% interest in the Wim and Hudvam deposits, adjacent to the Snow Lake and Flin Flon mining districts of Manitoba. HudBay Minerals Inc. (TSX:HBM) can exercise a 65% buyback right on the deposits by carrying Murgor to production. Murgor is also exploring an exceptional portfolio of gold properties in the proven mining districts of Abitibi, Quebec and Red Lake Ontario. Murgor also generates revenues through a 1% NSR royalty in the Barry Gold Mine, and its interest in the advanced Windfall Gold Project in Quebec.
The table below shows the total 43-101 compliant resource for Murgor's Hudvam, Wim and Fon deposits.
For statement of resources, see Murgor Press Releases: Feb. 20, 2007 for Fon; Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.
Mr. Andre Tessier, P.Eng, P.Geo. and President & CEO for Murgor Resources Inc. is a Qualified Person as defined by NI-43-101 and reviewed the technical information presented in this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
André C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
Fax: (613) 546-7318
E-mail: info@murgor.com Web site: www.murgor.com
This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Murgor's expectations are exploration risks detailed herein and from time to time in the filings made by Murgor with securities regulators.
Neither 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 release.
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