RUGBY GRANTS STOCK OPTIONS
Vancouver, B. C., July 22, 2010 - Rugby Mining Limited ("Rugby" or the "Company") (TSX-V:RUG) reports that it has, subject to regulatory and shareholder approval of its amended stock option plan, granted an aggregate of 825,000 stock options to five directors and an officer exercisable at a price of $0.50 for five years.
New opportunities
A number of gold, silver and copper projects in Central and South America have been offered to Rugby. Following an initial rating of these opportunities, field evaluations are currently being conducted.
About Rugby
Rugby is an emerging mineral resource company exploring for gold, silver and base metals. The experienced management team has a proven track record in the identification, acquisition, exploration and development of international mining projects. Rugby continues to receive offers to participate in more advanced precious metal projects and is currently assessing these opportunities.
Hawkwood
Rugby has secured an option to acquire up to a 90% interest in the Hawkwood project which covers 424 square kilometres of prospective copper-gold and iron tenements situated near Hawkwood in Queensland, Australia.
In January 2010, the Company entered into a joint venture heads of agreement (the "Agreement") with Eastern Iron Limited ("Eastern Iron") which covers certain areas identified as potential iron targets within the Hawkwood property. Eastern Iron will have an opportunity to earn up to 80% ownership in these targets after completing and incurring specific drilling and exploration expenditure requirements and conducting a bankable feasibility study. To date Eastern Iron has conducted ground and air magnetic surveys on the targets and have plans to commence a drilling program in late July, 2010.
In the coming months, Rugby will undertake further reconnaissance, geochemical sampling, mapping and geophysical modelling to follow up the gold and copper targets on the additional mineral targets at Hawkwood, not designated under the Agreement.
For additional information you are invited to visit the Rugby Mining Limited website at www.rugbymining.com
RUGBY MINING LIMITED
Paul JoycePresident and CEO
For further information, please contact:
P. Joyce, President or Cecil Bond, DirectorTel: 604.688.4941 Fax: 604.688.9532Toll-free: 1.888.688.4941 Suite 1260, 999 West Hastings St.Vancouver, BC Canada V6C 2W2info@rugbymining.com
CAUTIONARY STATEMENT
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the British Columbia, Alberta and Ontario Securities Acts. This includes statements concerning the Company's plans at the Hawkwood Project, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the effect on prices of major mineral commodities such as copper, gold and iron by factors beyond the control of the Company; events which cannot be accurately predicted such as political and economic instability, terrorism, environmental factors and changes in government regulations and taxes; the shortage of personnel with the requisite knowledge and skills to design and execute exploration programs; difficulties in arranging contracts for drilling and other exploration services; the Company's dependency on equity market financings to fund its exploration programs and maintain its mining properties in good standing; political risk that a future government will change environmental regulations, taxes or mineral royalties in a manner that could have an adverse effect on the Company's financial condition and impair its ability to raise further funds for exploration; risks associated with title to resource properties due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the sometimes ambiguous conveyancing characteristic of many resource properties, currency risks associated with foreign operations .and other risks and uncertainties, including those described in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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