VANCOUVER, Jan. 19, 2012 /PRNewswire/ - Quartz Mountain
Resources Ltd. ("Quartz" or the "Company") (TSX-V: QZM; OTCBB:
QZMRF) announces the grant of 408,000 options to officers and
directors of the Company.
The options have been granted at an exercise
price of $0.45 per share (based on
the closing price at the end of trading on January 18, 2012) and vest in three equal
tranches: six, twelve and 18 months after the date of grant, with a
five year term.
Quartz Mountain Resources Ltd. is a Vancouver-based exploration and development
company with an option to acquire a 100% interest in the Buck
gold-silver property located in central British Columbia. The Company is associated
with Hunter Dickinson Inc. (HDI), a diversified, global mining
group with more than 25 years of mineral development success.
On behalf of the Board of Directors
Ronald Thiessen
President & CEO
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Quartz Mountain Resources Ltd.