West Vancouver, British Columbia – September 24, 2007 – Columbia Yukon Explorations Inc. (the “Company”) wishes to report that its Annual General Meeting of shareholders was held on Friday, September 21, 2007. At that meeting the Company re-elected its current directors, re-appointed its auditor, Davidson & Company, Chartered Accountants, and approved the adoption of a new “rolling” stock option plan that is in keeping with current policies of the TSX Venture Exchange. The Company previously had a “fixed” stock option plan that allowed for a fixed number of options to be issued under such plan (up to 20% of the Company’s issued and outstanding common shares at the time that such plan is implemented). Under the new rolling stock option plan, the Company is allowed to issue options of up to 10% of the Company’s issued and outstanding common shares at any given time. The new stock option plan was approved by disinterested shareholders with the Company’s directors, officers and their respective associates abstaining from voting on the new stock option plan.
In keeping with the new stock option plan, the Company has granted 1,115,000 stock options to certain directors, officers, employees and consultants at an exercise price of $0.81 per share.
For further information, contact Mr. Clive Shallow, investor communications, at 604-922-2030, or visit the Company’s website at www.columbiayukon.com.
Columbia Yukon Explorations Inc.
“Douglas L. Mason”
_________________________________
Douglas L. Mason, Chairman
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. |
