Northland grants options to Executive Chairman and Directors
May 22, 2009: Northland Resources Inc. (Northland) reports that it has granted the following incentive stock options to members of its Board of Directors: Anders Hvide, Executive Chairman, 500,000; Ralph Rushton, Director, 100,000; Birger Solberg, Director, 100,000; Frode Teigen, Director, 100,000. The exercise price of the options is CAD 1.39 per share, which is the closing price of Northland's shares on the Toronto Stock Exchange on May 19th plus a premium of 25%. The options will have a term of 5 years, and a vesting period of 4 months. The options were granted in accordance