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Moto Goldmines-Stock Options Granted to Chairman

posted on May 18, 2009 02:45AM
May 18, 2009
Moto Goldmines-Stock Options Granted to Chairman
PERTH, WESTERN AUSTRALIA--(Marketwire - May 18, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH ANY US NEWSWIRE SERVICE

Moto Goldmines Limited (the "Company") (TSX:MGL)(AIM:MOE) announces the grant of 133,950 stock options (the "Options") to Samuel Esson Jonah, KBE, as of May 15, 2009. The Options were granted pursuant to the terms of his engagement as a director and Chairman of the Company and pursuant to the Company's Stock Option Plan.

Each Option entitles Mr. Jonah to purchase one Common Share in the Company at an exercise price of C$2.83 per share. The Options will expire six years from the date of grant and will vest as set out below:

------------------------------------------------------------
Number of Options          Vesting Date         Expiry Date
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44,650                     May 15, 2009        May 15, 2015
44,650                     May 15, 2010        May 15, 2015
44,650                     May 15, 2011        May 15, 2015
------------------------------------------------------------
Prior to this grant of options, Mr. Jonah held options to acquire 5,085,100 Common Shares of the Company (at exercise prices ranging from C$2.60 to C$7.65). He now has a total entitlement of options to acquire an aggregate of 5,219,050 Common Shares. Mr. Jonah also holds 2,717,874 Common Shares of the Company.
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