AAA.L Regulatory News (AAA)

27 Oct 2005 12:02

Adastra Minerals Inc27 October 2005 27 October 2005FOR IMMEDIATE RELEASE Adastra Minerals Inc. ("the Company") The Company announces that on 24th October 2005, the following options ("Options") over common shares of no par value ("Common Shares") were awarded todirectors under the terms of the Company's Stock Option Plan at an exerciseprice of CDN$1.35 per Common Share: Total number of Common Shares over which Options held following thisDirector Number of Options granted notification J W S Bentley 100,000* 500,000E Denis 100,000* 500,000P C MacNeill 100,000* 500,000B R Pryor 226,387# 1,026,387T P Read 348,635# 1,648,635B Vavala 150,000* 950,000P Walsh 100,000* 500,000 * In each case, 25 per cent. of the options are exercisable during the periodcommencing 24th October 2005 and ending 23rd October 2010, 25 per cent. of theoptions are exercisable during the period commencing 24th October 2006 andending 23rd October 2010, 25 per cent. of the options are exercisable during theperiod commencing 24th October 2007 and ending 23rd October 2010, and 25 percent. of the options are exercisable during the period commencing 24th October2008 and ending 23rd October 2010. # In each case, 12.5 per cent. of the options are exercisable during the periodcommencing 24th October 2005 and ending 23rd October 2010, 12.5 per cent. of theoptions are exercisable during the period commencing 24th October 2006 andending 23rd October 2010, 12.5 per cent. of the options are exercisable duringthe period commencing 24th October 2007 and ending 23rd October 2010, 12.5 percent. of the options are exercisable during the period commencing 24th October2008 and ending 23rd October 2010, and a maximum of a further 50 per cent. (theactual amount depending on the extent to which the Company's share price hasoutperformed a relevant index over a three year period: the actual being nil forno outperformance, and with 125 per cent. outperformance being required for theactual to be the maximum) of the options are exercisable during the periodcommencing 24th October 2008 and ending 23rd October 2010. This information is provided by RNS The company news service from the London Stock Exchange