VANCOUVER, British Columbia, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Viva Gold Corp. (TSX-Venture: VAU; OTCBB: VAUCF) (the “Company” or “Viva”) announces that it has granted, pursuant to its stock option plan, a total of 1,025,000 incentive stock options to directors, officers, employees and consultants. The incentive stock options have an exercise price of CDN $0.29 per share, are valid for a three-year period from the date of grant, and are subject to regulatory approval.
The Company's Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. As a result of this grant, the Company has 2,075,000 stock options issued, representing 9.8% of the issued and outstanding shares.
Viva has made a concerted effort to reduce corporate spending, including a reduction in management salaries to allow for a greater financial focus on advancing the Tonopah project, including its current drill program and metallurgical testing work.
About Viva Gold
Viva Gold is a gold exploration and development company with a focus on Nevada. Viva holds 100% of the Tonopah Gold Project, a large land position with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific Walker Lane Trend in Nevada, 30 kilometers south-east of the Round Mountain mine of Kinross Gold and 20 kilometers from the Town of Tonopah. Viva’s management team has extensive experience in mining exploration, development and production and are supported by a Board of Directors and advisors who are proven mine finders, deal makers and financiers. Viva trades on the TSX-V as “VAU”, on the OTCBB in the US as “VAUCF” and on the Frankfurt exchange under “7PB”. For additional information on Viva Gold and the Tonopah Gold Project, please visit our website: www.vivagold.com
For further information please contact:
President & CEO
Corporate Secretary & Director, Investor Relations