VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 2, 2014) - Zone Resources Inc. (TSX VENTURE:ZNR) (the "Company') announces that it has applied for and received TSX Venture Exchange approval to amend an Option Agreement dated March 11, 2011 with respect to the Iron Ore mineral property located in Nunavik, Northern Quebec.
As consideration for waiving such rights as it relates to $75,000 in outstanding cash payments, the Company will issue to the Optionor 750,000 common shares of the Company. Upon issuance of the 750,000 common shares, the Company will be deemed to have exercised the Option and acquired 100% of the remaining property under the Option Agreement.
About Zone Resources Inc.
Zone Resources Inc. is a Canadian mineral exploration and development company with projects in Canada.
Neither the 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.
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.