Issue of Employment Options

RNS Number : 5186M

IronRidge Resources Limited

21 January 2016

 

21 January 2016

IronRidge Resources Limited

Issue of Employment Options

IronRidge Resources Limited ( "IRR", "IronRidge" or the "Company"), the mineral exploration company with frontier assets in both Australia and West Africa, with two province scale projects in Gabon, and promising and advanced titanium and bauxite projects in Queensland Australia, has today allotted a total of 1.5 million unlisted employment options to Mr Len Kolff, the Company's Exploration and Gabonese Country Manager, as follows:

Ø 400,000 options exercisable at 5 pence each through to 20 January 2017;

Ø 500,000 options exercisable at 7.5 pence each through to 20 January 2018; and

Ø 600,000 options exercisable at 10 pence each through to 20 January 2019.

As a result of this allotment, the Company now has a total of 236,612,203 ordinary shares of no par value and 14,770,000 unlisted options on issue.

For any further information please contact:

IronRidge Resources Limited
Vincent Mascolo (Chief Executive Officer)	Tel: [phone]
Nicholas Mather (Executive Chairman)	Tel: [phone]
SP Angel Corporate Finance LLP	Tel: [phone]
Nominated Adviser and Broker
Jeff Keating Tercel Moore Yellow Jersey PR Limited Financial PR Dominic Barretto Aidan Stanley	Tel: [phone]

Notes to Editors:

IronRidge Resources is an AIM listed mineral exploration company with frontier assets in both Australia and West Africa, with two province scale projects in Gabon, and promising and advanced titanium and bauxite projects in Queensland Australia.  IronRidge's corporate strategy is to create and sustain shareholder value through the discovery of world-class and globally demanded commodities.

www.ironridgeresources.com.au 

Tchibanga:

Located in south-western Gabon, in the Nyanga Province, within 10-60km of the Atlantic coastline.  This project comprises two exploration licenses, Tchibanga and Tchibanga Nord, which cover a combined area of 3,396km² and include over 90km of prospective lithologies and the historic Mont Pele iron occurrence.

Belinga Sud:

Located in the north-east of Gabon in the Ogooue-Ivindo Province, approximately 400km east of the capital city of Libreville.  IRR's licence lies between the main Belinga Iron Ore Deposit, believed to be one of the world's largest untapped reserves of iron ore with an estimated 1bt of iron ore at a grade >60% Fe, and the route of the Trans Gabonese railway, which currently carries manganese ore and timber from Franceville to the Port of Owendo in Libreville.

Australia:

Monogorilby is prospective for province scale titania and bauxite whilst Quaggy has shown strong anomalies of platinum palladium nickel cobalt and copper.  Monogorilby is located in central Queensland, within a short trucking distance of the dormant rail system leading north to the Port of Bundaberg. It is also located within close proximity of the active Queensland Rail network heading south towards the Port of Brisbane.

Corporate:

IronRidge listed on AIM in February 2015, successfully securing strategic alliances with three international companies; Assore Limited of South Africa, Sumitomo Corporation of Japan and DGR Global Limited of Australia. Assore is a high- grade iron, chrome and magnesium mining specialist. Sumitomo Corporation is a global resources, mining marketing and trading conglomerate. DGR Global is a project generation and exploration specialist.

The Board of Directors is represented by mining industry professionals with a broad range of corporate, exploration, production, contracting and capital markets experience.  The Company was admitted on 12 February 2015 (Ticker Code IRR) and currently has 236,612,203 shares and 14,770,000 unlisted options on issue.

 

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