Lachlan Star Limited: Issue of Share Options in Lieu of Non-Executive Director Fees

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PERTH, WESTERN AUSTRALIA -- (Marketwired - Aug. 14, 2013) - Perth, Western Australia: Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (ASX:LSA) (TSX:LSA) announces that to assist in the preservation of the Company's cash resources the non-executive directors have offered to take their 2014 financial year director fees of $50,000 per person in share options in lieu of cash. Accordingly the Board has resolved to issue 3.2 million unlisted share options equally to the four non-executive directors subject to regulatory approval and shareholder approval at the Company's November 2013 Annual General Meeting.

The share options will have a 2 year term from date of issue and an exercise price of $0.30 per option. The closing share price of the Company on ASX on 7th August was $0.20 and the five day VWAP ending on the same day $0.22. The number of options that equated to the directors' fees was calculated with reference to an option pricing model.

To view the full announcement please click the link below:
http://www.lachlanstar.com.au/images/LSANonExecOptions140808.pdf

ABN: 88 000 759 535



Contact

Lachlan Star Limited
Michelle McAuliffe
+61(8) 9481 6006
michelle.mcauliffe@lachlanstar.com.au
www.lachlanstar.com.au