Press Releases May 23, 2008
Montreal, Québec – May 23, 2008 – Murgor Resources Inc. (
TSX-V: MGR) announced today that it has granted a total of 1,239,174 options to directors, officers and employees of the company on May 16th, 2008. All options are valid for a period of five years at an exercise price of $0.50, representing a 11% premium above the closing price on May 15th, 2008.
Included in the options granted on May 16th, 2008, a total of 100,000 options were granted to a new officer of the company and 83,333 options were granted to the corporation’s president and CEO to replace expired options.
About Murgor Resources Inc.
Murgor Resources Inc. is a mineral exploration company with a focus on zinc, copper and gold exploration in Canada. In late 2006, Murgor signed six agreements with HudBay Minerals, acquiring the right to earn a 100% interest in three deposits with a total NI 43-101 Inferred resource of:
8,666,000 tons of mineralization, containing 143,150,000 pounds of copper, 430,251,000 pounds of zinc, 221,000 ounces of gold and 2,526,000 ounces of silver. Murgor has also acquired from HudBay Minerals, a 50% interest in two highly prospective grassroots properties, covering more than 1,850 square kilometres adjacent to the Snow Lake and Flin Flon mining districts. The exploration target for Murgor consists of deposits in one of the most prolific greenstone belts in Canada and the world. Murgor also benefits from its association with HudBay Minerals, one of Canada’s most successful mining companies.
New 43-101 compliant resource estimates will be released this summer for the Hudvam copper-gold-zinc-silver and the Wim copper-gold deposits, following drilling programs totaling more than 31,000 metres at both projects in 2007 and 2008.