Rio Cristal Resources Corporation
TSX VENTURE : RCZ

Rio Cristal Resources Corporation

February 23, 2010 12:52 ET

Rio Cristal Resources Extends Period for Early Exercise of Warrants

VANCOUVER, BRITISH COLUMBIA and LIMA, PERU --(Marketwire - Feb. 23, 2010) - Rio Cristal Resources Corporation (TSX VENTURE:RCZ) ("RCZ" or the "Company") announces that it is extending the period during which holders of warrants issued in April 2009 (the "April 2009 Warrants") may exercise those warrants and receive one unit (in lieu of one common share) consisting of one common share and one-half of one warrant (each whole warrant, a "2010 Warrant").

On January 18, 2010 the Company announced that it had made application to the TSX Venture Exchange (the "Exchange") for approval of an incentive program to encourage the early exercise of the April 2009 Warrants. The original date for exercising the April 2009 Warrants to take advantage of this incentive program was March 3, 2010. This date has now been extended to March 17, 2010.

Each 2010 Warrant will allow the holder to acquire one common share of the capital of the Company at an exercise price of $0.12 for a period of 12 months following the date of the issuance of the units. The incentive offer is applicable to 26,000,000 April 2009 Warrants, which can be exercised at a price of $0.07 per share for aggregate gross proceeds of $1,820,000. The proceeds from the early exercise of the April 2009 Warrants will be used to fund exploration expenditures and for general working capital purposes.

If a holder of the April 2009 Warrants does not exercise them by March 17, 2010 to take advantage of this incentive program, the April 2009 Warrants shall continue to be exercisable for common shares of the Company on their original terms which provide for exercise at a price of $0.07 per warrant share until April 22, 2010 and thereafter at $0.10 per warrant share up to April 22, 2011.

About Rio Cristal Resources Corporation

Rio Cristal Resources is a Canadian corporation focused on the discovery and development of zinc, gold and copper mineral deposits in Peru. The principal asset of RCZ is the Charlotte Bongara claim block located in northern Peru within an emerging Mississippi Valley-type zinc district. Additional information can be found on the Company's website, www.riocristalresources.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 RCZ'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 the 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.

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