Rio Cristal Resources Corporation

Rio Cristal Resources Corporation

May 06, 2011 09:30 ET

Rio Cristal Resources Grants Stock Options

VANCOUVER, BRITISH COLUMBIA and LIMA, PERU--(Marketwire - May 6, 2011) - Rio Cristal Resources Corporation (TSX VENTURE:RCZ)(BVL:RCZ) ("RCR" or the "Company") announces that 1,800,000 incentive stock options have been granted to its directors and officers and to certain employees and consultants of the Company, on May 2, 2011, pursuant to the Company's Stock Option Plan. The 5 year options were issued at a price of C$0.18 per option. One third of the options vest immediately; one third vest 12 months after the date of grant; and one-third vest 24 months after the date of the grant.

About Rio Cristal Resources Corporation

Rio Cristal Resources is a Canadian corporation focused on the discovery and further development of zinc, copper and gold deposits in Peru. The Company's most advanced exploration project is the 18,000 hectare Bongará zinc claim block located in northern Peru. An initial 4,200 meter drilling program confirmed that the project is within an important emerging Mississippi Valley-type zinc district. In 2011, Rio Cristal has begun a 6,000 meter drill campaign in with the objectives of confirming a zinc oxide resource and discovering deeper sulfide zinc ores. Additionally, the Company is exploring methods of treating its zinc oxides so that it may make a production decision quickly and efficiently.

The Company is also conducting surface exploration at its La Cumbre copper oxide project near Chala, Peru. The process of obtaining drilling permits is underway and drilling is expected to begin in May, 2011 with an objective of completing 2,000 meters. Rio Cristal's preliminary review of La Cumbre indicates potential for bulk-mineable copper oxide mineralization grading in excess of 2% copper. Additionally, there is potential for copper sulfide mineralization as the project is located within a very prospective belt hosting significant iron oxide copper deposits. Extensive recent underground workings indicate a possible resource located at surface which could be rapidly quantified with potential for extending mineralization laterally and at depth.

The Company's shares are listed on the Toronto Stock Exchange, Venture Segment and the Bolsa de Valores de Lima (Lima Stock Exchange).

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential exploration results, future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future results, events and objectives could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Rio Cristal's expectations include exploration and other risks detailed from time to time in the filings made by the Company with securities regulators.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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