Rio Cristal Resources Corporation
TSX VENTURE : RCZ

Rio Cristal Resources Corporation

December 10, 2009 09:09 ET

Rio Cristal Resources Signs Option Agreement on Its Condor Gold Property

VANCOUVER, BRITISH COLUMBIA and LIMA, PERU--(Marketwire - Dec. 10, 2009) - Rio Cristal Resources Corporation (TSX VENTURE:RCZ) ("Rio Cristal" or the "Company") announced today that it has entered into an Option Agreement ("Agreement") to acquire the 2,500 hectare Condor early stage gold project ("Condor" "the Project") in southern Peru. The Company had signed a binding Letter of Intent on the Condor project on September 2, 2009.

Thomas Findley, President and CEO of Rio Cristal, said, "We are pleased to have now finalized and signed an option agreement on the Condor gold project. Our initial work done at Condor confirms the presence of locally strong surface gold mineralization in several prospect areas. Further exploration work, including drilling, is warranted and will be a priority for the Company." He continued "Adding an early stage gold exploration project like Condor is an important step as we implement our project diversification strategy of acquiring gold and copper properties."

Highlights of the work included continuous channel sampling along a shallow-dipping, approximately 8-10 meter-thick sandstone containing abundant quartz-sulfide veins that reported a section of 54 meters assaying 1.16 grams/tonne gold, including a section of 3 meters of 7.69 grams/tonne gold at the Zone 2 prospect. Additional work at the Zone 10 prospect included a geochemical trench sampling of quartz-veined and argillized volcaniclastic rocks returning a 1.5 meter section assaying 5.34 grams/tonne gold.

Future work will focus on defining and extending the limits of the outcropping gold-mineralized zones discovered to date. In the sandstone gold-mineralized sequence, this work will include more detailed stratigraphic mapping, aimed at locating the prospective sandstone horizons that host quartz-sulfide gold-bearing veins. The Company expects to begin a drilling campaign at Condor in 2010, funding permitting.

The terms of the Agreement allow the Company to acquire a 100% interest in the Condor project through a series of cash and share payments over a four year period totaling US$880,000 (US$20,000 upon signing the Option Agreement) and 1,700,000 Rio Cristal common shares (200,000 shares upon signing the option agreement). The agreement also grants the owners a 1% net smelter return royalty which may be bought out for US$3,000,000. In addition the Company must spend US$900,000 in exploration activities on the property over the same four year period (US$150,000 in the first year). The Agreement is subject to approval by the TSX-Venture Exchange.

The Agreement follows a successful project evaluation and due diligence on the Project where the principal economic targets identified at Condor are gold-mineralized, potentially bulk-mineable zones hosted in sandstone and volcaniclastic sequences of Cretaceous to Lower Tertiary age.

About the Condor Gold Project

The 2,543 hectare Condor gold-silver-base metals prospect is located 420 kilometers southeast of Lima, in the department of Ayacucho on the western slopes of the Andes. The property comprises 12 contiguous mining claims situated in the traditional artisanal mining district of Otoca.

As required by the National Instrument 43-101, Rio Cristal Zinc's designated Qualified Person is Dr. Paul Pearson, F.AUSIMM, who has verified the technical information reported in this news release.

About Rio Cristal Resources Corporation

Rio Cristal Resources is a Canadian corporation focused on the discovery and further development of gold, copper and zinc deposits in Peru. The principal asset of RCR 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 Rio Cristal's expectations include exploration and other risks detailed from time to time in the filings made by the Company with securities regulators.

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.

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