Antioquia Gold Announces Manager of Investor Relations and Grant Of Stock Options
November 2, 2011, Calgary, Alberta: Antioquia Gold Inc. ("Antioquia Gold" or the "Company") (TSXV: AGD; OCTQX: AGDFX) announces that Helen Bilhete, an independent Investor Relations Consultant, of Toronto, Ontario has been retained to provide ongoing investor relation services to Antioquia Gold beginning November 1, 2011. The initial term of the consulting agreement is for a six (6) month period with the possibility of extension. Ms Bilhete will receive a monthly fee of $6,500 in addition to stock options as outlined below. Ms. Bilhete has over 20 years of experience in the field of marketing and sales, with the last 14 years spent advising junior resource companies in investor relations matters.
"We are pleased to be able to add Ms. Bilhete to the Antioquia Gold Team. She is well known in the investment community and her experience is what we need right now as we move forward with the corporate objective of completing the maiden resource calculation and planning for the first steps of production," commented Rick Thibault, President and CEO of Antioquia Gold.
Antioquia Gold also announces that subject to regulatory approval, it has granted stock options to acquire a total of 4,262,500 common shares at an exercise price of $0.40 per share on November 1, 2011. The options were granted in accordance with the Company's Stock Option Plan which was approved by shareholders on September 15, 2011. Of the options issued, 3,225,000 were granted to officers and directors, 487,500 were granted to employees and 300,000 were granted to consultants of the Company, which vest immediately and expire five years from the date of grant. An amount of 250,000 options were granted to investor relations consultants: Ms. Bilhete, the new Manager of Investor Relations and eResearch Corporation, a company providing research coverage to Antioquia Gold. The options for investor relations activities shall vest in accordance with the terms of the Company's stock option plan. The Company has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the options to the directors of the Corporation (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).
About Antioquia Gold Inc.
Antioquia Gold has been exploring for precious metals in Colombia since 2007. The Company has a land package of close to 40,000 hectares located throughout Colombia. Antioquia's principal asset, which is being actively explored, is its 5,630 hectare Cisneros Project, located 55 kilometers northeast of Medellin in the Department of Antioquia, Colombia. At the Cisneros Project the Company has conducted extensive geochemical and geophysical programs over the entire property and has identified to date six exploration targets. On the original discovery zone it has drilled over 30,000 meters and is well versed in the understanding of the deposit type and the project's path to resource definition and production.
On behalf of Antioquia Gold, Richard Thibault, President & CEO
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.