Niblack Reprices Outstanding Stock Options
October 13 2010 - 5:17PM
Marketwired
Niblack Mineral Development Inc. (TSX VENTURE: NIB) (the
"Corporation") announces that, in connection with our previously
announced grant of stock options to directors and officers on
September 16, 2010, and due to current market conditions, on
September 15, 2010 it reduced the exercise price of 352,000 stock
options granted to non-insiders in 2006 and 2007 ranging from $1.25
to $2.25 per common share to $0.28 per common share. The reduction
of the exercise price is subject to acceptance by the TSX Venture
Exchange.
About Niblack Mineral Development Inc.
Niblack Mineral Development Inc. (TSX VENTURE: NIB) is an
exploration and development company with a number of mineral rich
assets in South East Alaska. The Corporation's principal asset is
the Niblack advanced stage copper-gold-zinc-silver project. This
project is currently joint ventured to and operated by Heatherdale
Resources Limited (a Hunter Dickinson Company) which has the right
to earn up to a 70% interest in the project.
Niblack Mineral Development Inc. is a member of the Discovery
Group of companies, for more information on the group visit
www.discoveryexp.com.
On behalf of the Board
Niblack Mineral Development Inc.
John Williamson, President, CEO & Director
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration
drilling, exploitation activities and events or developments that
the company expects are forward looking statements. Although the
company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploitation and exploration successes,
continuity of mineralization, uncertainties related to the ability
to obtain necessary permits, licenses and title and delays due to
third party opposition, changes in government policies regarding
mining and natural resource exploration and exploitation, and
continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected in the forward-looking statements. For more information
on the Company, investors should review the Company's continuous
disclosure filings that are available at www.sedar.com.
"Neither 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 release."
Contacts: Niblack Mineral Development Inc. Brian Budd Director
of Corp. Development 604-646-4525 or toll-free 1-888-331-2269
brianb@niblack.com www.niblack.com
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