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TEARLACH RESOURCES LTD. ANNOUNCES STOCK OPTION PLAN

VANCOUVER, BC: Tearlach Resources Ltd. (the “Company”) announces that on July, 2019 the Board of Directors approved a fixed Option Plan that provides that the aggregate number of Shares reserved for issuance under it, and all of the Company’s other previously established and outstanding stock option plans or grants, is 5,944,272 of the Company’s issued Shares. The TSX approved the plan on July 9, 2019.

Under the Option Plan, the option exercise price must not be less than the closing price of the Shares on the exchange on the day immediately preceding the date of grant, less the applicable discount permitted by the policies of the exchange. An option granted under the Option Plan must be exercised within a period of five years from the date of grant. Within this five-year period, the Board may determine the limitation period during which an option may be exercised. The Option Plan is in accordance with TSX Venture Exchange policies.

ON BEHALF OF THE BOARD OF DIRECTORS

Charles Ross
Director

TEARLACH RESOURCES LTD.

Suite 2300 – 1177 W. Hastings Street
Vancouver, BC, Canada V6E 2K3
Tel: 604.688-5007
Fax: 604.909-4682
 

Neither the TSX Venture Exchange nor its Regulation Service provided (as that term is defined in the polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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