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(VSE-MVN) - MADALENA VENTURES INC Retour
Date Heure Manchette
21 Décembre 2010 13:38 MADALENA ANNOUNCES GRANT OF OPTIONS
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES

TSXV Trading Symbol: MVN

CALGARY, Dec. 21 /CNW/ - The Board of Directors of Madalena Ventures Inc.
("Madalena" or the "Corporation") announces the grant of options ("Options")
to certain directors, officers and employees of the Corporation to purchase
an aggregate of 5,860,000 common shares ("Common Shares"). Each Option has
an exercise price of $0.79 per share and is exercisable for a period of five
years from the date of grant.

The Corporation's rolling stock option plan was approved by the
shareholders at the Annual and Special Meeting of shareholders held on June
22, 2010. The Corporation's stock option plan currently reserves up to
25,265,889 Common Shares for issuance pursuant to Options, which is equal to
10% of the number of issued and outstanding Common Shares. Options to
purchase 16,565,000 Common Shares are now outstanding, which is equal to
6.6% of the number of issued and outstanding Common Shares.

Madalena is a publicly traded international junior Canadian oil and gas
exploration company trading on the TSX Venture Stock Exchange under the
symbol "MVN". The Company has assets in Argentina and is actively evaluating
international oil and gas opportunities with a primary focus on South
America.

MADALENA VENTURES INC.

On behalf of the Board

"Dwayne Warkentin"

Dwayne Warkentin,

President and Chief Executive Officer

Forward Looking Statements

The information in this news release contains certain forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "approximate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might", "should",
"believe", "would" and similar expressions. These statements involve
substantial known and unknown risks and uncertainties, certain of which are
beyond the Corporation's control, including: the impact of general economic
conditions; industry conditions; changes in laws and regulations including
the adoption of new environmental laws and regulations and changes in how
they are interpreted and enforced; fluctuations in commodity prices and
foreign exchange and interest rates; stock market volatility and market
valuations; volatility in market prices for oil and natural gas; liabilities
inherent in oil and natural gas operations; uncertainties associated with
estimating oil and natural gas reserves; competition for, among other
things, capital, acquisitions, of reserves, undeveloped lands and skilled
personnel; incorrect assessments of the value of acquisitions; changes in
income tax laws or changes in tax laws and incentive programs relating to
the oil and gas industry ; geological, technical, drilling and processing
problems and other difficulties in producing petroleum reserves; and
obtaining required approvals of regulatory authorities. The Corporation's
actual results, performance or achievement could differ materially from
those expressed in, or implied by, such forward-looking statements and,
accordingly, no assurances can be given that any of the events anticipated
by the forward-looking statements will transpire or occur or, if any of
them do, what benefits that the Corporation will derive from them. These
statements are subject to certain risks and uncertainties and may be based
on assumptions that could cause actual results to differ materially from
those anticipated or implied in the forward-looking statements. The
Corporation's forward-looking statements are expressly qualified in their
entirety by this cautionary statement. Except as required by law, the
Corporation undertakes no obligation to publicly update or revise any
forward-looking statements. Investors are encouraged to review and consider
the additional risk factors set forth in the Corporation's Annual
Information Form which is available on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or the solicitation
of any offer to buy the securities in any jurisdiction. The Common Shares
will not be and have not been registered under the United States Securities
Act of 1933 and may not be offered or sold in the United States, or to a
U.S. person, absent registration, or an applicable exemption therefrom."

To view this news release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/December2010/21/c7075.html

.

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