Rencore Resources Ltd.

Rencore Resources Ltd.

June 23, 2011 15:25 ET

Rencore Resources Announces Appointment of Vice President-Aboriginal Affairs, Grant of Stock Options and First Quarter Filings under IFRS

TORONTO, ONTARIO--(Marketwire - June 23, 2011) -Rencore Resources Ltd. (CNSX:RNC) ("Rencore" or the "Company") is pleased to announce that Patricia Stirbys has been appointed Vice President – Aboriginal Affairs. Ms. Stirbys will manage the consultation and community engagement process between Rencore and Aboriginal communities.

Ms. Stirbys is an experienced negotiator, with specialization in Aboriginal Relations. Ms. Stirbys has worked on a broad range of Aboriginal issues at the federal, provincial and Aboriginal government levels, including Aboriginal initiatives in renewable energy, intergovernmental relations, education agreements and First Nation Band management. Ms. Stirbys is a lawyer, with significant experience and training in alternative methods of dispute resolution (negotiation, mediation and relationship management). She currently advises mining companies on the Aboriginal consultation process and the development of agreements. Ms. Stirbys is a former Professor with the University of Ottawa, Common Law Faculty. She is a member of Cowessess First Nation.

The Company also wishes to announce that it has granted an aggregate of 600,000 director and officer stock options to purchase common shares of the Company exercisable at $0.25 per share for five years.

Rencore has filed its first condensed interim financial statements for the period ended March 31, 2011 in accordance with International Financial Reporting Standards ("IFRS") and in particular in accordance with International Accounting Standard 34, Interim Financial Reporting. The effect of the transition to IFRS is fully disclosed in the notes to the condensed interim financial statements.

The Company is also pleased to report that the diamond drill has arrived at the Lizar project and is currently setting up in preparation for drilling at the first location.

On behalf of the board of directors of Rencore Resources Ltd.,

Richard E. Nemis, President and Chief Executive Officer

Cautionary Note Regarding Forward­Looking 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 document, 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 such 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 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. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Contact Information

  • Rencore Resources Ltd.
    Richard E. Nemis
    416 864 1456