VANCOUVER, BC, Dec. 7, 2022
/CNW/ - Diamond Fields Resources Inc. (TSXV: DFR) (or "the
Company") announces that it has granted new stock options ("the New
Options") to eligible participants for the purchase of up to
900,000 common shares at an exercise price of C$0.20 per share, effective as at December 6, 2022 (the "Grant Date").
The New Options will expire on the fourth anniversary of the
Grant Date, with 100% of the New Options vesting on the first
anniversary of the Grant Date. The exercise price of the New
Options is the same as the options granted on September 22, 2022 and the subscription price
which was used in the US$3.1m equity
financing announced on March 11,
2022. This pricing is intended to ensure continued alignment
of interests among shareholders, management and directors.
The New Options were granted under DFR's Fixed Stock Option plan
(the "Plan") which enables the Company to issue up to 17,800,000
Stock Options, being less than 10% of the Company's issued and
outstanding common shares.
A balance of 150,000 Stock Options remains available for future
grants under the Plan.
Notes to Editors:
DFR is a TSX Venture Exchange listed exploration and mine
development company focused on gold and other commodities in
Africa. DFR holds interests in a
portfolio of West African gold exploration projects including the
highly prospective Cascades Gold Project in Burkina Faso. The Cascades Project has a
Mineral Resource prepared in accordance with NI 43-101 comprising
5.41 million tonnes of indicated resources at an average grade of
1.52 g/t Au for a total 264,000 ounces of gold; and 6.93 million
tonnes of inferred resources at an average grade 1.67 g/t Au for a
total of 371,000 ounces of gold.
In Madagascar, DFR has an
advanced high grade hard rock zircon exploration prospect located
in the west of the country, approximately 220km east of the port of
Maintirano and close to a state road. DFR acquired Beravina from
Pala Investments and Austral Resources in 2016.
Website: www.diamondfields.com
The Company's public documents may be accessed at
www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements:
This release contains certain "forward-looking information"
within the meaning of applicable Canadian securities legislation.
All statements other than statements of historical fact in this
release that address activities, events or developments that DFR
expects or anticipates will or may occur in the future are
forward-looking statements or information. Often, but not always,
forward-looking information can be identified by the use of words
such as "aim", "aspire", "strive", "will", "expect", "intend",
"plan", "believe" or similar expressions as they relate to DFR.
Forward- looking information is subject to a variety of risks and
uncertainties which could cause actual events or results to
materially differ from those reflected in the forward-looking
information.
There are a number of important factors that could cause DFR's
actual results to differ materially from those indicated or implied
by forward-looking statements and information. Such factors
include, among others: the ability to obtain requisite regulatory
approvals; commodity prices; the gold exploration and mining
industry in general; the potential impact of the announcement on
relationships; including with regulatory bodies, employees;
suppliers, customers and competitors; changes in general economic,
business and political conditions, including changes in the
financial markets; changes in applicable laws; and compliance with
extensive government regulation. Should one or more of these risks,
uncertainties or other factors materialize, or should assumptions
underlying the forward-looking information or statement prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected.
DFR cautions that the foregoing list of material factors is not
exhaustive. When relying on DFR's forward-looking statements and
information to make decisions, shareholders should carefully
consider the foregoing factors and other uncertainties and
potential events. DFR has assumed that the material factors
referred to in the previous paragraph will not cause such forward
looking statements and information to differ materially from actual
results or events. However, the list of these factors is not
exhaustive and is subject to change and there can be no assurance
that such assumptions will reflect the actual outcome of such items
or factors. The forward-looking information contained in this
release represents the expectations of DFR as of the date of this
release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward looking
information and should not rely upon this information as of any
other date. While DFR may elect to, it does not undertake to update
this information at any particular time except as required in
accordance with applicable laws.
SOURCE Diamond Fields Resources Inc.
