Razore Rock Resources Inc.

CNSX : RZR


Razore Rock Resources Inc.

February 28, 2014 17:53 ET

Razore Rock Announces Amendment to the Option Agreement Relating to the Oxford Lake Gold Property

TORONTO, ONTARIO--(Marketwired - Feb. 28, 2014) - Razore Rock Resources Inc. ("Razore Rock" or the "Company") (CSE:RZR) is pleased to announce that, further to its Press Release of December 30, 2013 relating to the acquisition of its option of the Oxford Lake Gold Property, Alto Ventures Ltd. ("Alto Ventures") has agreed to a reduction in the minimum expenditure required in the first year of the agreement to $60,000 (the "Minimum Expenditure"), being the funds actually required to keep the mineral exploration licenses comprising part of the Property in good standing, and an extension of the date by which Razore Rock must notify Alto Ventures of its commitment to make the Minimum Expenditure to March 28, 2014.

Razore Rock is undertaking a non-brokered financing to raise up to $1,550,000 to fund the initial exploration of the Oxford Lake Gold Property and to provide the Company with working capital (reference is made to the Press Release dated February 14, 2014 for particulars of the Offering).

Bill Jonstone, Corporate Secretary, commented, "We appreciate Alto Ventures' co-operation in providing Razore Rock with additional time to complete its proposed financing announced on February 14, 2014. As interest in the junior resource sector builds in anticipation of the 2014 Prospectors and Developers Association of Canada conference, Razore Rock hopes to be able to attract some attention to its exciting Oxford Lake Gold Project."

Razore Rock will be exhibiting a banner and some information on the Company at the Canadian Securities Exchange booths 2542 and 2544 at the Metro Toronto Convention Centre on Sunday, March 2, 2014 from 10:00 a.m. to 5:30 p.m. We hope to see you there.

About Razore Rock Resources Inc.

Razore Rock Resources Inc. is a mineral exploration company focused on the acquisition, exploration and development of mineral resources, primarily gold, in Manitoba. Razore Rock holds an option to earn up to a 60% working interest in the 35,300 ha Oxford Lake Gold Property in central Manitoba, which hosts an historic gold deposit, as well as a 100% interest in five mining claim blocks (the Duff Claims Property) in the Sourdough Bay and Mikanagan Faults Area, Flin Flon District, Manitoba.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this Press Release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

Contact Information

  • Razore Rock Resources Inc.
    Bill Johnstone
    Corporate Secretary
    (416) 865-6605

    Razore Rock Resources Inc.
    Gary F. Zak
    Vice President, Corporate Development
    (604) 802-7551