LITHIC GRANTS STOCK OPTIONS
May 16, 2006
Lithic Resources Ltd. (LTH-TSX Venture) (the “Company”) has granted a total of 500,000 incentive stock options to directors of the Company. Each stock option entitles the holder to purchase one common share of the Company at a price of 39 cents until May 16, 2011. The options and any securities issued on the exercise of the options are subject to a four month hold period ending on September 16, 2006.
The options were granted pursuant to the Company’s stock option plan which reserves an aggregate total of stock options equivalent to 10% of the Company’s issued and outstanding share balance at any given time. Including the current grant, the Company has issued 1,650,000 stock options out of an authorized maximum of 2,186,081 stock options. The option grant is subject to regulatory approval.
For further information please contact Chris Staargaard at 604-687-7211.
LITHIC RESOURCES LTD.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.