Options Extended

May 2, 2012, Vancouver, BC: Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”-TSXV)

is pleased to report that 860,000 employee and director stock incentive options, due to expire shortly, have been extended for a period of five years and will now expire on May 1, 2017, subject to regulatory approval. The strike price of the options has been changed to $0.10, which is one cent higher than today’s closing price of the stock.


“Dino Cremonese, P.Eng.”

President Silver Grail Resosurces Ltd.

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This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Silver Grail Resources Ltd. does have an ongoing obligation to disclose material information, as it becomes available.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.