Rencore Resources Ltd.
CNSX : RNC

Rencore Resources Ltd.

February 14, 2011 17:01 ET

Rencore Resources Ltd. Update

TORONTO, ONTARIO--(Marketwire - Feb. 14, 2011) - Rencore Resources Ltd. (CNSX:RNC) ("Rencore" or the "Company") wishes to provide the following update.

Lizar Project

The Company has staked 17 additional claims totalling 148 claim units comprising approximately 2,368 hectares (5,872 acres). In addition, 10 claims totalling 134 claim units were returned to the optionors of the property. The current project area is now made up of 49 claims comprising 461 claim units that total 7,376 hectares (18,292 acres). These modifications to the Lizar project area were undertaken to rationalize the Lizar property limits with the Company's exploration plan.

Recently, a VTEM (transient electromagnetic and magnetic) airborne survey consisting of approximately 816 line kms was flown over the Lizar property. This survey was carried out by Geotech Ltd. of Aurora, Ontario. The results of this survey have more clearly defined a number of previously known geophysical anomalies and resulted in the identification of a number of new anomalies that are the subject of further interpretation and will be integrated with the current data review and exploration planning.

The Lizar property is host to numerous gold, nickel, copper and platinum group element showings that are indicative of the multi-metal potential of this project. Interest in this general area has been renewed by recent discoveries of Hemlo style disseminated, sulphide hosted, gold mineralization made by Harte Gold Corporation (see Harte press release dated November 10, 2010). The Harte Gold project is located approximately 25 km west of the Lizar property.

Further to the Company's Press Release of December 30, 2010, it has closed its 2010 flow through and working capital financing led by IBK Capital Corp. with the December 2010 tranche.

On Behalf of the Board of Directors

Richard Nemis, President and CEO

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 Nemis
    416-864-1456