squalid : Rio Alto Mining Ltd.
In addition the Corporation announces that it has granted stock options to acquire up to 2,500,000 common shares of the Corporation to certain of its employees, consultants, advisory committee members and directors. The options have an exercise price of $0.30 per common share, which is approximately 50 per cent higher than the recent trading price of the common shares. All of these options vest immediately and will expire on July 16, 2014. The Corporation also wishes to announce the re-pricing of 400,000 options granted on July 4, 2007 and expiring May 7, 2012 from $0.45 per share to $0.30 per share. The re-pricing is subject to acceptance by the TSX Venture Exchange.