Avala Resources grants stock options
LONGUEUIL, QUÉBEC–(Marketwire – July 11, 2012) – Avala Resources Ltd. (TSX VENTURE:AVZ) (the "Company") announces that, subject to regulatory approval, it has granted an aggregate of 400,000 stock options to non-executive directors, following their election or re-election to the board of the Company at the annual general and special meeting of the Company's shareholders held on June 20, 2012. The options are exercisable at a price of $0.62 for period of five years from the date of grant, and 200,000 of the options will vest in three equal tranches over two years.
About Avala Resources Ltd.: Avala Resources is a mineral exploration company focused on the exploration and development of the Timok Gold Project in Eastern Serbia. The Timok Gold Project comprises several targets, including Bigar Hill, Korkan, and Kraku Pestar. Avala controls 100% of this newly identified sediment-hosted gold belt which totals approximately 250 square kilometres. The common shares of Avala trade on the TSX Venture Exchange under the symbol AVZ.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Avala Resources Ltd.
James Crombie, President and CEO