Altair Gold amends and grants stock options

VANCOUVER, Aug. 1, 2013 /CNW/ - Altair Gold Inc. (TSX-V: AVX; the "Company" or "Altair") announces that, subject to acceptance for filing by the TSX Venture Exchange (the "TSXV") and subject to disinterested shareholder approval where required at the Annual General Meeting of the Company held on September 5, 2013, an aggregate of 2,334,999 stock options, under its Stock Option Plan, which were previously granted to certain directors, officers and consultants of the Company, have been cancelled and re-granted at an exercise price of $0.10 per share exercisable for a period of five years.  The cancelled stock options were granted at exercise prices of $0.45 per share (305,000 options), $0.30 per share (50,000 options), $0.54 per share (349,999 options), $0.275 per share (1,430,000 options) and $0.22 per share (200,000 options).  All of the re-granted options are subject to acceptance for filing by the TSXV and 1,649,999 of the options re-granted to insiders are also subject to disinterested shareholder approval at the above-mentioned Annual General Meeting.  The options re-granted to directors, officers and consultants not performing investor relations services will vest immediately.  The options re-granted to consultants performing investor relations services (aggregate of 300,000 options) will vest over a period of 12 months with 25% vesting on the date that is three months, six months, nine months and twelve months after the date of grant. In addition, the Company has granted, under its Stock Option Plan, a stock option to one of its directors to purchase up to 250,000 common shares in the capital of the Company exercisable for a period of five years at a price of $0.10 per share, which option will vest immediately.  This new stock option is not subject to acceptance for filing by the TSXV or disinterested shareholder approval.

ALTAIR GOLD INC.

"Fayyaz Alimohamed"

Per:

Fayyaz Alimohamed
President & Chief Executive Officer

Neither 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 Altair Gold Inc.

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