CRANBROOK, BRITISH COLUMBIA - Feb. 5, 2008) - Chapleau Resource Ltd. (TSX VENTURE:CHI) wishes to announce that it has granted officer and consultants incentive options to purchase 700,000 shares in its capital stock at a price of $.45 per share exercisable until Feb. 5, 2018.
The incentive options have been issued in accordance with the Company's option plan and are subject to regulatory approval.
In addition two directors have agreed to reduce their outstanding stock options by a combined total of 2,500,000 shares in order to provide room under the company's option plan for future grants.
This press release is available on the Chapleau Resources IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/Chapleau.
BY ORDER OF THE BOARD OF DIRECTORS
CHAPLEAU RESOURCES LTD.
Eric Wiltzen, Director
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Eric Wiltzen
Chapleau Resource Ltd.
Director
(250) 489-5156
(250) 489-5185 (FAX)
Email: info@chapleauresources.com
Website: www.chapleauresources.com
