Goldrush Grants Stock Options
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/25/11 -- Goldrush Resources Ltd. (TSX VENTURE: GOD) reports that the Board of Directors has granted director and employee incentive stock options for the purchase of 2,000,000 common shares pursuant to Goldrush's incentive stock option plan. The incentive stock option plan is a 10% fixed plan with a maximum size of 7,306,000 options and is compliant with the prevailing policies of the TSX Venture Exchange. The incentive stock options granted are subject to a four month hold period from the date of grant and are exercisable for three years at $0.20 per share which is above the closing market price of the Company's shares on the TSX Venture Exchange on February 24, 2011.
There are a total of 4,410,000 incentive stock options outstanding after the current grant.
For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie - President and Chief Executive Officer
About Goldrush: Goldrush is a mineral exploration company focused on gold exploration in West Africa.
FORWARD-LOOKING STATEMENTS: This news release contains certain 'forward-looking statements' within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Goldrush Resources Ltd.
Don Willoughby
VP Corporate Development
604-602-9973
604-681-5910 (FAX)
info@goldrushresources.ca
www.goldrushresources.ca
Equicom Group
Joe Racanelli
(416) 815-0700 Ext. 243
jracanelli@equicomgroup.com
Equicom Group
Babak Pedram
(416) 815-0700 Ext. 264
bpedram@equicomgroup.com
www.equicomgroup.com