Award of Share Options

RNS Number : 0173C

Landore Resources Limited

23 June 2016

LANDORE RESOURCES LIMITED

("Landore Resources" or the "Company")

Award of Share Options

Landore Resources (AIM: LND) announces that, on 22 June 2016, a total of 20,750,000 options over ordinary shares of no par value in the Company (the "New Share Options") ("Ordinary Shares") were awarded to the Directors and certain other members of the Company's management.

The exercise price of the New Share Options is 1.80 pence per New Share Option, which is equivalent to the mid-market closing price of the Ordinary Shares on 22 June 2016. The New Share Options are not subject to any performance conditions and will expire 5 years from the date of award.

Details of the New Share Options awarded are set out below:

Name	No. of New Share Options	Exercise price (p)	Date of expiry
William Humphries	7,000,000	1.80	22 June 2021
Richard Prickett	6,000,000	1.80	22 June 2021
Michele Tuomi	6,000,000	1.80	22 June 2021
Charles Wilkinson	500,000	1.80	22 June 2021
Helen Green	500,000	1.80	22 June 2021
Others	750,000	1.80	22 June 2021

The New Share Options are partial compensation for the Directors and senior management whose remuneration was significantly reduced in order to secure the Company's ability to survive in very challenging market conditions and whose loyalty was justified by the significant gold discovery at Junior Lake, as announced on 4 April 2016.

Commenting on today's announcement, Charles Wilkinson, Non-Executive Chairman of Landore Resources, said:

"For the past two years the Directors, Management and staff have all contributed over and above normal expectations to ensure the Company's survival and continued progress in the difficult times experienced throughout the mining industry. The award of the New Share Options is recognition of their significant commitment and perseverance which resulted in the recently announced gold discovery at Junior Lake."

Following the award of the New Share Options, there are currently 65,850,000 options over Ordinary Shares ("Share Options"). A summary of the Share Options held by the Directors and management are set out below:

	No. of Share Options granted	Date Share Options awarded	Date Share Options expire	Exercise price (p)
William Humphries	1,000,000	28 October 2009	28 October 2019	14.0
	4,000,000	6 July 2011	06 July 2016	16.1
	1,000,000	20 March 2012	20 March 2017	7.9
	1,500,000	26 September 2012	26 September 2017	7.4
	4,500,000	1 July 2013	1 July 2018	5.0
	5,000,000	25 November 2013	25 November 2018	2.5
	4,500,000	21 July 2014	21 July 2019	3.5
	7,000,000	22 June 2016	22 June 2021	1.8

Richard Prickett	2,500,000	6 July 2011	6 July 2016	16.1
	1,000,000	20 March 2012	20 March 2017	7.9
	1,500,000	26 September 2012	26 September 2017	7.4
	2,000,000	1 July 2013	1 July 2018	5.0
	3,000,000	25 November 2013	25 November 2018	2.5
	2,500,000	21 July 2014	21 July 2019	3.5
	6,000,000	22 June 2016	22 June 2021	1.8

Michele Tuomi	400,000	6 July 2011	6 July 2016	16.1
	500,000	20 March 2012	20 March 2017	7.9
	500,000	4 July 2012	4 July 2017	6.5
	400,000	26 September 2012	26 September 2017	7.4
	1,000,000	25 November 2013	25 November 2018	2.5
	500,000	21 March 2014	21 March 2019	2.2
	1,500,000	21 July 2014	21 July 2019	3.5
	6,000,000	22 June 2016	22 June 2021	1.8

Charles Wilkinson	250,000	6 July 2011	6 July 2016	16.1
	250,000	26 September 2012	26 September 2017	7.4
	500,000	1 July 2013	1 July 2018	5.0
	250,000	25 November 2013	25 November 2018	2.5
	250,000	21 July 2014	21 July 2019	3.5
	500,000	22 June 2016	22 June 2021	1.8

Helen Green	250,000	6 July 2011	6 July 2016	16.1
	250,000	26 September 2012	26 September 2017	7.4
	250,000	25 November 2013	25 November 2018	2.5
	250,000	21 July 2014	21 July 2019	3.5
	500,000	22 June 2016	22 June 2021	1.8