TORONTO, Aug. 17 /CNW/ - Thistle Mining Inc. ("Thistle" or the "Company")
(AIM:TMG) wishes to announce that after discussions with RAB Special
Situations (Master) Fund Limited ("Special Situations"), it was determined by
the Company and Special Situations that the Alternative Monthly Report (the
"Report") dated and filed by Special Situations on SEDAR (www.sedar.com) on
August 10, 2006 was filed due to an administrative error.
The Report indicates that, as of August 10, 2006, Special Situations was
the holder of warrants to acquire common shares of the Company. Thistle wishes
to clarify that the noted warrants had been repudiated and terminated by order
of the Ontario Superior Court of Justice dated February 4, 2005 as part of the
restructuring of the Company under the Companies' Creditors Arrangement Act
(Canada), which was completed on June 30, 2005. As of August 10, 2006 Special
Situations does not hold any common shares or warrants to acquire common
shares of the Company.
As at August 17, 2006, Thistle has outstanding 2,882,000 options to
purchase common shares issued under the Thistle Incentive Share Option Plan
and no common share purchase warrants. In December 2005, the board of
directors resolved to reserve for issuance under the Thistle Incentive Share
Option Plan up to 10% of the issued and outstanding share capital of the
Company to directors, officers and employees.