Redzone Resources Ltd.: Second Quarter Financial Statements
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2012) - Redzone Resources Ltd. ("REZ" or the "Company") (TSX:REZ) reports that it has filed its unaudited condensed interim consolidated financial statements for the three and six months ended October 31, 2012 and the related management's discussion and analysis ("MD&A").
The Company reported a net loss for the three and six months ended October 31, 2012 of $0.1 million and $0.4 million, compared with $0.3 million and $0.7 million for the comparative periods in 2011.
The Company formally gave notice of its intent to exercise their option to acquire 55% of Minas Dixon SA, which owns the Lara and Tingo properties. The transaction has not yet been effected and is anticipated to be completed shortly. The Company has a drill program in place and is exploring options on how to advance it.
The Company remains very active in its search for a value adding acquisition to see the Company to its goal of being a mid-tier mining company.
Copies of the unaudited condensed interim consolidated financial statements and related MD&A can be found on SEDAR at www.sedar.com.
About Redzone Resources Ltd.
Redzone is a mineral exploration company focused on the acquisition and exploration of properties with prospects for hosting gold and base metal deposits in Peru. Redzone is listed on the Toronto Stock Exchange (REZ) and more information can be found at www.redzoneresources.ca.
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans and objectives of Redzone Resources Ltd. are forward-looking statements that involve various risks. The following are important factors that could cause Redzone Resources' actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Redzone Resources undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Redzone Resources Ltd.
President and Chief Executive Officer