VANCOUVER, BRITISH COLUMBIA--(Marketwire -07/11/12)- Redzone Resources Ltd. (REZ.TO) ("REZ" or the "Company") reports that it has filed its audited consolidated financial statements for the year ended April 30, 2012 and the related management's discussion and analysis ("MD&A").
The Company reported a net loss for the three and twelve months ended April 30, 2012 of $0.3 million and $1.4 million, respectively, compared with $0.2 million and $1.1 million for the comparative periods in 2011. During the year ended April 30, 2012 the Company incurred $1.5 million on deferred acquisition costs related to the drill program on the Lara Copper joint venture property in southern Peru, Ayachucho Department.
Given the success of the recent drill program at Lara, it is the Company's intention to exercise their option to acquire 55% of Minas Dixon BVI, which owns the Lara and Tingo properties.
The Company continues its very active search for a material acquisition.
Copies of the audited 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.
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.