LANDORE RESOURCES LIMITED — Remuneration Information 2017

Jul 5, 2017

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RNS Number : 1928K

Landore Resources Limited

05 July 2017

LANDORE RESOURCES LIMITED

("Landore Resources" or "the Company")

(AIM Ticker: LND.L)

Award of Share Options

London, United Kingdom - July 5, 2017 - Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company") announces that a total of 21,500,000 options of no par value in the Company (the "New Share Options") ("Ordinary Shares") have been awarded to the Directors, certain other members of the Company's management and consultants.

The exercise price of the New Share Options is 3.19 pence, being a 10 per cent. premium to the mid-market closing price of the Ordinary Shares on 4 July 2017. The New Share Options are not subject to any performance conditions and will expire 5 years from the date of the award.

Details of the New Share Options awarded are set out below:

Name	No. of New Share Options	Exercise price (p)	Date of expiry
William Humphries	10,000,000	3.19	4 July 2022
Richard Prickett	5,000,000	3.19	4 July 2022
Michele Tuomi	5,000,000	3.19	4 July 2022
Charles Wilkinson	500,000	3.19	4 July 2022
Helen Green	500,000	3.19	4 July 2022
Others	500,000	3.19	4 July 2022

The New Share Options are partial compensation for the Directors, senior management and consultants whose remuneration was significantly reduced in order to secure the Company's ability to survive in very challenging market conditions and whose loyalty was justified by the significant gold discovery, and continued progress, at the BAM East Gold Project on the Company's Junior Lake Property.

Following the award of the New Share Options, there are currently 68,350,000 options over Ordinary Shares ("Share Options") outstanding. A summary of the Share Options held by the Directors and management are set out below:

	No. of Share Options granted	Date Share Options awarded	Date Share Options expire	Exercise price (p)
William Humphries	1,000,000	28 October 2009	28 October 2019	14.0
	1,500,000	26 September 2012	26 September 2017	7.4
	4,500,000	1 July 2013	1 July 2018	5.0
	5,000,000	25 November 2013	25 November 2018	2.5
	4,500,000	21 July 2014	21 July 2019	3.5
	10,000,000	5 July 2017	4 July 2022	3.2
Richard Prickett	1,500,000	26 September 2012	26 September 2017	7.4
	2,000,000	1 July 2013	1 July 2018	5.0
	3,000,000	25 November 2013	25 November 2018	2.5
	2,500,000	21 July 2014	21 July 2019	3.5
	6,000,000	22 June 2016	22 June 2021	1.8
	5,000,000	5 July 2017	4 July 2022	3.2
Michele Tuomi	400,000	26 September 2012	26 September 2017	7.4
	1,000,000	25 November 2013	25 November 2018	2.5
	500,000	21 March 2014	21 March 2019	2.2
	1,500,000	21 July 2014	21 July 2019	3.5
	6,000,000	22 June 2016	22 June 2021	1.8
	5,000,000	5 July 2017	4 July 2022	3.2
Charles Wilkinson	250,000	26 September 2012	26 September 2017	7.4
	500,000	1 July 2013	1 July 2018	5.0
	250,000	25 November 2013	25 November 2018	2.5
	250,000	21 July 2014	21 July 2019	3.5
	500,000	22 June 2016	22 June 2021	1.8
	500,000	5 July 2017	4 July 2022	3.2
Helen Green	250,000	26 September 2012	26 September 2017	7.4
	250,000	25 November 2013	25 November 2018	2.5
	250,000	21 July 2014	21 July 2019	3.5
	500,000	22 June 2016	22 June 2021	1.8
	500,000	5 July 2017	4 July 2022	3.2

Related Party Transaction

The issue of the New Share Options to the Directors (the "Director Options") is deemed to be a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. Given that there are no independent Directors, Strand Hanson Limited, the Company's Nominated Adviser, considers the terms of the Director Options to be fair and reasonable insofar as the Company's shareholders are concerned.

- ENDS -

About Landore Resources

Landore Resources is an exploration company that seeks to grow shareholder value through the acquisition, exploration and development of precious and base metal projects in eastern Canada. The Company is primarily focused on the development of the Junior Lake Project. Landore Resources has mineral rights to 5 properties in eastern Canada. The Company is headquartered in Guernsey, with an exploration office located in Thunder Bay, Ontario, Canada.

For more information, please contact:

Bill Humphries, Chief Executive Officer         Tel: 07734 681262

Richard Prickett, Finance Director                   Tel: 07775 651421

Landore Resources Limited                              www.landore.com

Angela Hallett / James Spinney / Jack Botros  Tel: 020 7409 3494

Strand Hanson Limited

Nominated Advisor and Broker

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

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