Redzone Resources Ltd.
TSX : REZ

Redzone Resources Ltd.

December 07, 2011 17:38 ET

Redzone Announces Its Second Quarter Results and the Commencement of an Expanded Drill Program at Lara

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2011) - Redzone Resources Corp. (TSX:REZ) ("REZ" or the "Company") reports that it has filed its unaudited condensed interim consolidated financial statements for the three and six months ended October 31, 2011 and the related management's discussion and analysis ("MD&A").

The Company reports a net loss for the three and six months ended October 31, 2011 of $0.3 million and $0.7 million, respectively, compared with $0.2 million and $0.6 million for the comparative periods in 2010.

As of October 31, 2011, the Company had working capital of $2.7 million, including cash of $2.8 million. With this funding in place, the Company is in a financial position to continue its current exploration strategy on the Lara Property.

The Company commenced with a drill program at the Lara Property, located in the porphyry copper belt of Peru located approximately 400 km southeast of Lima, to test the large porphyry system identified last year through IP and magnetic surveying. The Company expects to complete the drilling program by the end of December 2011 and prepare an updated NI 43-101 by the end of its fiscal year, April 30, 2012.

Copies of the unaudited condensed interim financial statements and related MD&A can be found on SEDAR at www.sedar.com.

About Redzone Resources Ltd.

Redzone is a mineral exploration company focused on the acquisition and exploration of properties with prospects for hosting gold and base metal deposits in Peru. Redzone is listed on the Toronto Stock Exchange (REZ) and more information can be found at www.redzoneresources.ca.

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans and objectives of Redzone Resources Ltd. are forward-looking statements that involve various risks. The following are important factors that could cause Redzone Resources' actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Redzone Resources undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

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