Granting of Share Options

    RNS Number : 7828J
  Van Dieman Mines plc
  09 December 2008
   

    
    9 December 2008

    VAN DIEMAN MINES PLC

    Granting of Share Options

    Van Dieman Mines Plc (the "Company") has granted unapproved options over 13,566,664 ordinary shares of 1p each in the authorised but
unissued share capital of the Company ("Shares") under the terms of its Unapproved Share Option Scheme following the Company's General
Meeting held yesterday, 8 December 2008. The options were granted to certain employees and directors of the Company at an exercise price of
2.5p per Share.  

    Details of the options which were granted to the executive directors and non-executive directors of the Company are set out below.  

    Michael Etheridge - non-executive Chairman

    Options over 3,000,000 Shares to vest as follows: (i) options over 1,500,000 Shares to vest in three equal tranches on 8 December 2008,
8 December 2009 and 8 December 2010; and (ii) options over 1,500,000 Shares to vest on the achievement of certain performance conditions.

    Following the grant of these options Michael Etheridge is interested in 500,000 Shares, representing 0.3% of the Company's issued share
capital and has options over 3,000,000 Shares.

    Ronald Goodman - Chief Executive Officer

    Options over 2,000,000 Shares to vest as follows: (i) options over 1,000,000 Shares to vest in three equal tranches on 8 December 2008,
8 December 2009 and 8 December 2010; and (ii) options over 1,000,000 Shares to vest on the achievement of certain performance conditions.

    Following the grant of these options Ronald Goodman is interested in 50,000 Shares, representing 0.03% of the Company's issued share
capital and has options over 2,000,000 Shares.

    Nigel Christie - non-executive Director

    Options over 2,500,000 Shares to vest as follows: (i) options over 1,250,000 Shares to vest in three equal tranches on 8 December 2008,
8 December 2009 and 8 December 2010; and (ii) options over 1,250,000 Shares to vest on the achievement of certain performance conditions.

    Following the grant of these options Nigel Christie has options over 2,500,000 Shares.

    Henry Stacpoole - non-executive Director

    Options over 1,666,666 Shares to vest as follows: (i) options over 666,666 Shares to vest in two equal tranches on 8 December 2009 and 8
December 2010; and (ii) options over 1,000,000 Shares to vest on the achievement of certain performance conditions.

    Following the grant of these options Henry Stacpoole has options over 1,666,666 Shares.

    William Wise - non-executive Director

    Options over 1,666,666 Shares to vest as follows: (i) options over 666,666 Shares to vest in two equal tranches on 8 December 2009 and 8
December 2010; and (ii) options over 1,000,000 Shares to vest on the achievement of certain performance conditions.

    Following the grant of these options Bill Wise has options over 1,666,666 Shares.

    Performance Conditions

    There are two performance conditions to be satisfied in regard to the second part of the options granted to the directors, a summary of
which is set out below.

    The second part of the options granted to the directors vest in two equal tranches on or after the delivery of the first container of
tin concentrate to the customer (i) from the Scotia Mine and (ii) from the Endurance Mine.

    Enquiries

 VAN DIEMAN MINES plc 
 Mike Etheridge, non-executive Chairman              Tel: [phone]
 Ron Goodman, Managing Director and CEO              Tel: [phone]

 GRANT THORNTON UK LLP                               Tel: [phone]
 Gerry Beaney / Fiona Owen

 FOX DAVIES CAPITAL LIMITED                          Tel: [phone]
 Daniel Fox-Davies, Managing Director




This information is provided by RNS
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