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Message: Vault Minerals Announces AGM Results and the Grant of Stock Options

Vault Minerals Announces AGM Results and the Grant of Stock Options

posted on Jun 27, 2008 11:38AM
Vault Minerals Announces AGM Results and the Grant of Stock Options
6/27/2008 3:05:53 PM
KIRKLAND LAKE, ON, Jun 27, 2008 (Canada NewsWire via COMTEX News Network) --

Vault Minerals Inc. (TSX-V: VMI) ("Vault" or the "Company") announces the results of its 2008 annual and general meeting of shareholders held in Toronto, Ontario on June 26, 2008.

Election of Directors and Appointment of Auditors

At the meeting, the shareholders of the Company approved all resolutions put before them by management, including the election of directors and the re-appointment of Ross, Pope & Company as external auditors of the Company. The returning board members are Joseph Horne, Daniel McCormack, Scott Waldie and Peter Bojtos. The Company further advises that Mr Kyle Sinclair was elected to the board of directors, and who will sit as an independent member.

Kyle Sinclair, CA

Mr Kyle Sinclair brings to Vault a wealth of financial knowledge and experience. He is presently the Corporate Controller for Grant Forest Products Inc, a private company operating as one of the largest oriented strand board companies in North America. Prior thereto, Mr Sinclair served as Vice-President Finance and Treasurer of Kirkland Lake Gold Inc, a publicly-traded mining company. The majority of Mr Sinclair's career was spent at American Household Inc, and its subsidiaries, where he held a number of senior finance positions in Canada, the United States and Europe. He has also provided a broad range of contract financial services for a number of companies in various industries through a private consulting company he founded. Mr Sinclair is a Chartered Accountant (1992) and a graduate of the University of Toronto where he received a Bachelor's of Commerce degree.

Upon Mr Sinclair's election, Vault's President and CEO, Joe Horne, commented: "On behalf of the Company and my fellow directors, I welcome Kyle to the board and very much look forward to the skills, experience, oversight and independence he will impart to the board and its audit committee."

Officer and Committee Appointments

At a subsequent board meeting, the directors re-appointed Joseph Horne as President & Chief Executive Officer, Tara Gilfillan as Chief Financial Officer, Daniel McCormack as Vice President and Michael Sutton as Vice President, Exploration. The board has also appointed a fully independent audit committee comprising Messrs Waldie, Bojtos and Sinclair.

Grant of Stock Options

Vault also announces the grant of an aggregate 825,000 incentive stock options ("Options") to certain directors, officers, consultants and an employee of the Company, pursuant to the terms of the Company's stock option plan and which remain subject to regulatory approval. Each Option, which vests over a 21-month period, entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.35 prior to the close of business on June 26, 2013.

About Vault

Vault Minerals Inc. is a Canadian junior exploration company focused on gold exploration and development in and around the proven gold camps of northeastern Ontario. In addition to its Goldbanks, Kirkland and Lebel gold properties in the prolific Kirkland Lake gold camp, Vault is aggressively evaluating significant gold projects in the region for potential acquisition. The Company's capital consists of 29,526,093 issued and outstanding common shares which are listed for trading on the TSX Venture Exchange under the symbol 'VMI'.

On behalf of the Board of


"Joe Horne"


Joseph D. Horne

President & CEO

This Press Release may contain forward-looking statements that involve inherent risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations, and the Company disclaims any obligation to update these forward-looking statements.

"The TSX Venture Exchange does not accept responsibility for the adequacy

or accuracy of this release."

SOURCE: Vault Minerals Inc.

please visit our website at www.vaultminerals.com or contact Joe Horne, President, or Dan McCormack, P.Geo, Vice President at (705) 567 4511

Copyright (C) 2008 CNW Group. All rights reserved.
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