Rio Cristal Zinc Corporation

Rio Cristal Zinc Corporation

March 27, 2009 09:01 ET

Rio Cristal Zinc Amends Concession Agreement

VANCOUVER, BRITISH COLUMBIA and LIMA, PERU--(Marketwire - March 27, 2009) - Rio Cristal Zinc Corporation (the "Company" or "RCZ") (TSX VENTURE:RCZ), is pleased to announce that it has amended its Mining Concession Transfer Agreement ("Concession Transfer Agreement") with Compania Minera Pilar del Amazonas ("Amazonas") on its Charlotte Bongara claim block in northern Peru.

The amended agreement, subject to approval of the TSX Venture Exchange, allows the Company to make option payments to Amazonas in cash, common shares of RCZ, or a combination of both from 2009 through 2013. Previously, all option payments were to be made in cash. The revised option payment schedule has two effects: first, to move $400,000 of payments from the 2009-2013 period to the 2014-2018 period and, second, to allow the Company to pay the remaining $1 million of payments during the 2009-2013 period in cash, shares or a combination of both. Total option payments remain unchanged for the period 2009-2018. The amended agreement replaces the prior amendment which was announced on December 4, 2008. A letter of intent has been signed by both parties agreeing to the change and agreeing to finalize a formal agreement.

Charles Preble, Chairman of Rio Cristal Zinc, said "This amended agreement with Amazonas gives us more flexibility to determine where to use our available cash during this time of market uncertainty. It is part of our restructuring of the Company which includes the appointment of Thomas Findley to the position of President and CEO on April 1, 2009 as previously announced".

The original Concession Transfer Agreement and the Amendment to the Concession Transfer Agreement are available on SEDAR.

About Rio Cristal Zinc Corporation

Rio Cristal Zinc is a Canadian corporation focused on the discovery and further development of zinc deposits in Peru. The principal asset of RCZ is the Charlotte Bongara claim block located in northern Peru within an emerging Mississippi Valley-type zinc district. Additional information can be found on the Company's website,

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.

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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