TORONTO, June 29, 2021 (GLOBE NEWSWIRE) -- Huntington Exploration Inc. (TSXV:HEI) (the “Company” or “Huntington”) announces that pursuant to Company’s stock option plan, 2,500,000 stock options at an exercise price of $0.31 were granted to the directors, officers, and consultants to the Company. The stock options granted vest immediately and are exercisable for a period of ten years from date of grant. The Company relied on sections 5.5 (a) and (b) and 5.7(a) and (b) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 in respect of the grant of options to the directors and officers of the Company as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the grant of the options to the director of the Company exceeded 25% of the Company’s market capitalization.
There are currently 78,420,817 shares issued in the Company.
Huntington is an environmentally responsible mineral exploration company dedicated to the application of good geoscience through compliance with the E3 Program developed by the PDAC. Huntington plans to encapsulate success within the Red Lake vicinity, noting successful demonstrations of contemporaries Prosper Gold Corporation and Dixie Gold Inc. Regionally, gold mineralization has been found following a formational magnetic signature that parallels the regional Balmer – Narrow Lake Assemblage (Confederation Group) unconformity. Neighbour Prosper Gold Corporation has announced the recovery of a significant number of pristine (rough and angular) gold grains recovered from systematic till samples and the recovery of a significant number of pristine (rough and angular) gold grains recovered from systematic till samples and is currently in the midst of a 15,000 m drill program. The formational magnetic feature and the projected unconformity highlighted by Prosper, trends onto Huntington’s Key-Hole claims.
ON BEHALF OF THE BOARD OF HUNTINGTON EXPLORATION
President & CEO
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