Red Crescent Resources Limited

Red Crescent Resources Limited

April 29, 2013 11:47 ET

Red Crescent Provides Update on Activities from February to April 2013

TORONTO, ONTARIO--(Marketwired - April 29, 2013) - Red Crescent Resources Limited (TSX:RCB)(FRANKFURT:7RC) ("RCR" or the "Company"), a base metals focused mineral exploration and mine development company with mining operations in Turkey, is pleased to provide an update on its activities since January 14th, 2013.

At its Hakkari Zinc Project, the Company continued, despite severe winter conditions, to produce from underground operations on the Uzumcu (Pentagon) license. On March 13th, 2013, a third lot of 2,850 tons of Direct Shippable Ore ("DSO") has been exported from Mersin port. Since the commencement of production in mid-September 2012, a total of 6,140 tonnes of DSO have been exported.

In the Hakkari stock yard, approximately 5,200 tonnes of DSO is stored and waiting to be crushed by the new secondary crusher installed at the site. At the Mersin stock yard, approximately 2,000 tons of DSO has been stored and has already been crushed by third parties.

Preparations for the hot-commissioning of the Dense Media Separation (the "DMS") process plant and its related auxiliary equipment has commenced. A secondary crusher with other unit process equipment, such as a conveyor belt, has already been commissioned and is in operation. The system will now be able to crush all DSO material produced to a commercially saleable size distribution. The non-DSO material will also be crushed and fed directly into the DMS.

When put into full operation, the DMS will enable the Company to produce saleable concentrates from the enrichment of non-DSO materials mined.

The technical concept for the Tufanbeyli project related to the development of production of saleable concentrates from the enrichment of non-DSO materials mined, using RCR's second DMS, has been verified and completed. A letter of intent has been signed with an interested party, a site visit was organised and a technical due diligence by the interested party has been completed. Further discussions are ongoing.

A technical review report prepared by an expert in respect of previous activities done at the Sivas project, including a road map of work package and an itemised cost breakdown has been completed. Geological and topographical studies, as well as mapping studies, are planned to be performed as soon as possible.

Forward-looking statements

This press release contains certain "forward-looking statements". All statements that are not historical facts, including, among others, statements regarding plans for processing of zinc oxide and sulphide mineralised materials mined at the Hakkari Zinc Project, expected prices of metals and minerals and other statements regarding future estimates, plans, objectives and performance are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate. Such statements are based on certain assumptions, including, among others, pricing assumptions regarding mineral commodities and there being no significant disruptions affecting operations on RCR's properties or other material adverse changes. Such statements involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated by such statements. Such risks and uncertainties include, among others, the actual prices of metals and minerals, the actual results of current exploration and mining activities, changes in project parameters as plans are evaluated, as well as those assumptions, risks and other factors identified and reported in our public filings with Canadian securities regulators (including our annual information form), which can be accessed at The forward-looking information contained in this press release is made as of the date hereof. Other than as specifically required by law, we undertake no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on forward-looking statements.

About Red Crescent Resources Limited

Red Crescent Resources Limited (TSX:RCB)(FRANKFURT:7RC) is a Canadian-based, base metals focused, mineral exploration and mine development company with mining operations in Turkey, targeting historically inaccessible areas where no modern application of exploration techniques or technology has been applied, with high potential for discovery of significant base metal deposits. For more information, please visit

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