Mazorro Resources Inc.

Mazorro Resources Inc.

December 21, 2010 16:20 ET

Mazorro Increases Private Placement Financings

OTTAWA, ONTARIO--(Marketwire - Dec. 21, 2010) - Mazorro Resources Inc. ("Mazorro" or the "Company") (TSX VENTURE:MZO)(FRANKFURT:JAM) announces its decision to increase its previously announced hard cash financing (see press release dated December 15, 2010) by $100,000, and its previously announced flow-through financing (see press release dated December 16, 2010) by $200,000. Mazorro will issue an additional 833,334 non-flow-through units at $0.12 per unit ($100,000) and an additional 1,333,334 flow-through shares at $0.15 per share ($200,000).

In total, Mazorro plans to raise $350,000 in the hard cash financing and $1,200,000 in the flow-through financing. The closing is expected to take place in the next few days and is subject to TSX Venture Exchange approval.

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

Neither the TSX Venture Exchange or 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.

Contact Information

  • Mazorro Resources Inc.
    Andre Audet
    Chief Executive Officer