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Re: News Releases - Friday, February 01, 2008
Miranda Gold Stock Options
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Miranda Gold Corp. ("Miranda") (TSX-V: MAD), with the cooperation of
its Directors and Senior Officers, has effectively reduced the number
of stock options outstanding from 12.5% (5,613,750 options) to 8.2%
(3,688,750 options) of the current issued and outstanding share capital
of Miranda. Management believes that the number of options outstanding
is higher than the industry standard. Management also believes that
the shareholder approved stock option plan (the "Plan") enables Miranda
to better align the interests of its directors, management, employees,
and shareholders and at the same time reduces the cash compensation
Miranda would otherwise have to pay.
There are 7,307,052 common shares reserved for granting pursuant to the
Plan. Before the following series of transactions there were 1,173,302
available to grant.
The Directors have today granted Stock Options to Directors and
officers on 1,170,000 shares of the Company's capital stock,
exercisable for up to five years at a price of $0.70 per share, which
price is the last closing price of the Company's shares prior to the
date of grant. The options granted will vest 25% immediately, and 25%
every six months thereafter from date of grant and will be subject to
any applicable regulatory hold periods.
Subject to regulatory approval, the Directors have today re-priced
945,000 stock options previously granted to four employees and one
consultant who are not insiders at a price of $0.70 per share. The
life of these stock options will remain unchanged.
Finally, the Directors with the consent of the option holders have
cancelled 3,095,000 stock options previously granted to Directors and
Senior Officers and no new options will be granted to any of these
individuals for twelve months.
Management feels these adjustments have been made for the benefit of
its shareholders and will provide additional incentive for the
technical team upon whom Miranda relies for future exploration
successes.
ON BEHALF OF THE BOARD
"Kenneth Cunningham"
President and CEO
For more information visit the Company's web site at
www.mirandagold.com or contact Fiona Grant, Manager, Investor Relations
1-877-689-4580.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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Copyright (c) 2008 MIRANDA GOLD CORP. (MAD) All rights reserved. For
more information visit our website at http://www.mirandagold.com/ or
send mailto:fiona@mirandagold.com
Message sent on Fri Feb 1, 2008 at 11:13:25 AM Pacific Time
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