MIRL.L Regulatory News (MIRL)

19 Mar 2008 08:17

Minera IRL Limited19 March 2008 Minera IRL Limited - Press Release Grant of Options Minera (AIM: MIRL), the South American precious metals mining company, announcesthat on 18 March 2008 a total of 785,000 options over ordinary shares of nil parvalue in the Company ('Options') were granted to certain Directors andexecutives pursuant to the Minera IRL Limited Incentive Stock Option Scheme('Scheme'), which was approved by shareholders on 29 November 2006. The Options are exercisable at 62p per share, being the closing mid-market priceper ordinary share on 18 March 2008, and will vest as to 50 per cent. on thefirst anniversary of grant and the balance on the second anniversary of grant.The Options shall expire after 5 years from the date of grant. Following the grant, the interests of Directors in Options is as follows: Director Options granted Resultant Option holding C C Chamberlain 250,000 2,250,000 D A Jones 50,000 150,000 R L Cranswick - 100,000 T E Streeter 50,000 150,000 G D Ross 25,000 75,000 Total 375,000 2,725,000 The Scheme permits the grant of options up to a maximum of 10 per cent. of thetotal number of ordinary shares in issue. This grant represents options overapproximately 1.3 per cent. of the current 61,827,036 ordinary shares of theCompany in issue. The total number of options granted to date is 4,225,000representing approximately 6.8 per cent. of the total number of ordinary sharesin issue. For more information contact: Minera IRL Courtney Chamberlain, Executive Chairman or +61 (0)408 888 803 Trish Kent, Manager, Corporate Relations +51 1 4181230 Arbuthnot Securities (Nomad & Broker, London) + 44 (0)20 7012 2000 Paul Vanstone Inna Vassina Bankside Consultants (Financial PR, London) + 44 (0)20 7367 8888 Simon Rothschild Louise Mason Credibolsa (Broker, Lima) + 55 13132900 Christian Chocano Synergy Asociados (Public Relations, Lima) + 511 446 2055/446 1832 Magaly Villena + 511 9400 8101 Jorge Leon + 551 9837 5186 Minera IRL Limited ("MIRL") is the holding company of a precious metals miningcompany focused on the Andean Cordillera of South America. MIRL is led by anexperienced senior management team with extensive industry experience,particularly in operating in South America. The Group has acquired and advanceda portfolio of projects. This information is provided by RNS The company news service from the London Stock Exchange