Black Range Minerals : Exercise Price of Director Options

Microsoft Word - Exercise Price of Director Options 28 Nov 2014.doc

ACN 009 079 047

Suite 9, 5 Centro Avenue

Subiaco WA 6008

Phone: [phone]

Fax: [phone]

Email: [e-mail]

28 November 2014
The Company Announcements Office
Australian Securities Exchange

via electronic lodgement

EXERCISE PRICE OF DIRECTOR OPTIONS

Resolutions 7-10 (inclusive) on the agenda of the Company's Annual General Meeting to be held today, seek approval for the issue of options ("the Options") to directors or entities controlled by directors.
As detailed in the notice of meeting, the exercise price of the Options ("the Exercise Price") is to be set at a 30% premium to the volume weighted average market price calculated over the last 5 days on which sales in shares were recorded prior to the date the Options are issued. The Company advises that in accordance with the specified formula, the Exercise Price of the Options will be $0.0064 per Option.
For and on behalf of the Board

For further information please contact: Ian Cunningham Company Secretary Phone: [phone] Email: [e-mail]