|Kilo Goldmines Ltd.
TSX VENTURE : KGL
March 16, 2016 21:05 ET
TORONTO, ONTARIO–(Marketwired – March 16, 2016) – Kilo Goldmines Ltd. (“Kilo” or “KGL” or the “Company”) (TSX VENTURE:KGL)(FRANKFURT:02K) announced today that, subject to regulatory approval, it has granted stock options to acquire an aggregate of 1,980,000 common shares to directors, officers, consultants and contractors of Kilo and its DRC subsidiaries under its Employee Stock Option Plan. Each option is exercisable for a ten year period to acquire one common share at a price of $0.09 per share. The options granted are not subject to vesting restrictions.
Kilo Goldmines Ltd. is a Canadian gold exploration company that is listed on the TSX Venture Exchange under the symbol ‘KGL’ and on the Frankfurt Exchange under the symbol ’02K’. The Company holds about 2,418 square kilometres of prospective Archaean Kibalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo.
Incorporated within these licences is:
- the Somituri project (71.25% owned by KGL), comprising six contiguous licences (361km2) held by KGL-Somituri SARL
- the KGL Isiro SARL Joint Venture (JV) with Randgold Resources Ltd (2056 km2), for gold and associated minerals only. The JV is managed by Randgold and financed by it to a pre-feasibility (PFS) for a 51% participation interest. Upon completion of the PFS, KGL can participate in funding or Randgold will increase its participation to 65% by completing a Feasibility Study. Areas which may be deemed of no interest to Randgold will be returned to KGL.
KGL has retained the rights to explore for and develop iron ore resources and other minerals associated with the licences held by KGL Isiro SARL.
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.