VANCOUVER, B.C. Northisle Copper and Gold Inc. (“Northisle” or the “Company“) has approved the granting of stock options to directors, officers and consultants for the purchase of 1,730,000 common shares of the Company. The options will vest over a two-year period, with one-third vested on issue, one-third on the first anniversary date and one-third on the second anniversary date. These options have a five-year term and allow the holder to purchase one common share of the company for $0.30 cents a share until November 23, 2016.
The Company is also pleased to announce the appointment of Ms. Katherine Gallagher as Manager of Investor Relations and Administration. Ms. Gallagher is a recent Commerce graduate from the University of Victoria who will be assisting senior management in all areas of investor relations and public company administration. As part of her employment agreement, Ms. Gallagher has been granted options to purchase 150,000 shares at a price of $0.30 per share exercisable for a five year term. Approximately $3,000 of her salary each month will be attributed to investor relations activities.
Northisle is a Vancouver based junior resource company committed to the exploration and development of the Island Copper-Gold Project on Northern Vancouver Island. Northisle was created to facilitate a plan of arrangement initiated by Western Copper Corporation, a TSX Venture and NYSE AMEX listed company. With the completion of the plan of arrangement on October 17, 2011, the Island Copper-Gold Project and $2.5 million were transferred from Western Copper Corporation to Northisle. The Island Copper-Gold Project surrounds the reclaimed BHP Island Copper Mine approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu Deposit and 5 other partially explored copper-gold porphyry occurrences. A $1.5 million exploration program at the Island Copper-Gold Project was initiated in August 2011.
For more information on Northisle please visit the Company’s website at www.Northisle.ca.
On behalf of Northisle Copper and Gold Inc.
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 news release.
This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.