Rio Cristal Announces Agreement With SinoLatin Capital
April 27 2011 - 9:30AM
Marketwired
Rio Cristal Resources Corporation (TSX VENTURE: RCZ)(BVL: RCZ)
("Rio Cristal" or the "Company") today announced that it has
entered into an agreement with SinoLatin Capital Incorporated to
act as the Company's financial adviser in China.
Thomas Findley, President and CEO of Rio Cristal, said, "China
is the world's largest consumer of zinc, consumption levels are
growing each year and China imports approximately 50% of the zinc
feed needed for its refineries. Rio Cristal is actively looking for
a joint venture partner for our flagship Bongara zinc project in
Amazonas, Peru and it makes sense that we have contact with
potential Chinese partners on a regular basis. I am very pleased to
have entered into our agreement with SinoLatin Capital, a company
that can help us maintain an active presence in China as it acts as
our adviser."
Headquartered in Shanghai, SinoLatin Capital is the first
financial advisory firm focused exclusively on cross-border
transactions between China and Latin America. The firm specializes
in the natural resource transactions, with a particular emphasis on
the mining sector. "China's demand for resources such as zinc
continues to propel global production, and Rio Cristal is strongly
positioned to play an important role in meeting this surge in
demand. We are grateful for Rio Cristal's confidence in our China
experience and presence in helping the Company forge new Chinese
partnerships," said Erik Bethel, Managing Partner of SinoLatin
Capital.
The terms of the Rio Cristal Resources agreement with SinoLatin
Capital are subject to approval by the Toronto Stock Exchange
(TSX).
About Rio Cristal Resources Corporation
Rio Cristal Resources is a Canadian corporation focused on the
discovery and further development of zinc, copper and gold deposits
in Peru. The Company's most advanced exploration project is the
18,000 hectare Bongara zinc claim block located in northern Peru.
An initial 4,200 meter drilling program confirmed that the project
is within an important emerging Mississippi Valley-type zinc
district. In 2011, Rio Cristal has begun a 6,000 meter drill
campaign in with the objectives of confirming a zinc oxide resource
and discovering deeper sulfide zinc ores. Additionally, the Company
is exploring methods of treating its zinc oxides so that it may
make a production decision quickly and efficiently.
The Company is also conducting surface exploration at its La
Cumbre copper oxide project near Chala, Peru. The process of
obtaining drilling permits is underway and drilling is expected to
begin in May, 2011 with an objective of completing 2,000 meters.
Rio Cristal's preliminary review of La Cumbre indicates potential
for bulk-mineable copper oxide mineralization grading in excess of
2% copper. Additionally, there is potential for copper sulfide
mineralization as the project is located within a very prospective
belt hosting significant iron oxide copper deposits. Extensive
recent underground workings indicate a possible resource located at
surface which could be rapidly quantified with potential for
extending mineralization laterally and at depth.
The Company's shares are listed on the Toronto Stock Exchange,
Venture Segment and the Bolsa de Valores de Lima (Lima Stock
Exchange).
Information about Rio Cristal Resources Corporation can also be
found on the Company's website, www.riocristalresources.com.
Information about SinoLatin Capital Inc. can also be found on
the following website: www.sinolatincapital.com.
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. All statements
other than statements of historical fact included in this release,
including, without limitation, statements regarding potential
exploration results, future plans and objectives of the Company are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future results, events
and objectives could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from Rio Cristal's expectations include
exploration and other risks detailed from time to time in the
filings made by the Company with securities regulators.
This news release does not constitute an offer to sell or
solicitation of an offer to sell any securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: For North American investors Rio Cristal Resources
Corporation Bernie Kennedy 877-489-4440
investorcanada@riocristalresources.com For Peruvian and Latin
American investors Rio Cristal Resources Corporation Lucia Cestti
(51) (1) 628-5124 extension 102
investorperu@riocristalresources.com
www.riocristalresources.com