Grant of Stock Options
Suite 501 - 595 Howe Street Vancouver, BC V6C 2T5 Tel: (604) 685-4655 Fax: (604) 685-4675 Toll Free: 1-888-685-4655
September 20, 2010 NEWS RELEASE - #10-15 TSX- V: GRR
GRANT OF STOCK OPTIONS
Golden Reign Resources Ltd. (the “Company” or “Golden Reign”)(TSX-V: GRR), announces that pursuant to its stock option plan and subject to regulatory approval, it has granted 1,000,000 options to directors, officers, employees and consultants at an exercise price of $0.25 per share for a term of five years. The securities represented by this grant will be subject to a four-month hold period.
On behalf of the Board,
“Kim Evans”
Kim Evans, CGA Director & CFO
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR) mineral exploration company engaged in exploring the San Albino-Murra Property located in Nueva Segovia, Nicaragua. Held under a 25 year mining license expiring February 3, 2027, the property covers an area of 8,700 hectares (87 sq km).
The Company has outlined a structural corridor approximately 3 kilometres wide by 15 kilometres long which is comprised of mineralized quartz veins and breccia zones. This corridor spans the Property, stretching from Las Conchitas in the south to the northeast mining town of Murra, encompassing numerous Spanish and artisanal workings, most of which yielded very limited production from near-surface high-grade quartz veins. The San Albino Mine flanks the northwestern edge of this structural trend.
Under the terms of the option agreement, the Company may acquire an 80% interest in the Property over a four year period by making cash payments totalling US$450,000, issuing 4,000,000 common shares from treasury and incurring aggregate exploration expenditures of US$5,000,000.
Nicaragua, a mining-friendly jurisdiction, is situated in the Central American Gold Belt, which extends from Costa Rica in the south to Guatemala in the north. Within this prolific gold belt, estimates of historical production total more than 20 million ounces.
For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company’s exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management’s best judgment as of the date hereof, based on information currently available.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.