Rio Cristal Announces Appointment of Mr. Erik Bethel to Its Board of Directors
13 July 2011 - 11:38PM
Marketwired
Rio Cristal Resources Corporation (TSX VENTURE: RCZ)(BVL: RCZ)
("Rio Cristal" or the "Company") announced that Mr. Erik Bethel has
been appointed a Director of the Company.
Thomas Findley, President and CEO of Rio Cristal, said, "I am
very pleased to announce that Erik Bethel, Managing Partner of
SinoLatin Capital, has agreed to join us as a Director of the
Company. Rio Cristal's association with SinoLatin Capital is a key
part of our strategy of seeking a strong partner to work with us to
develop mining projects in Peru. Mr. Bethel's experience with, and
knowledge of, leading Chinese companies is very important to us and
I know that he will bring great value to our Board."
Mr. Bethel has 17 years experience in the investment banking and
private equity industries in Latin America and China. He currently
serves as Managing Partner for SinoLatin Capital, a merchant bank
based in Shanghai that focuses on natural resource transactions
between China and Latin America. Before SinoLatin Capital, Mr.
Bethel worked for ChinaVest, the oldest private equity fund in
Mainland China. He also worked in the Latin American private
equity, mergers and acquisitions, and corporate finance groups at
Morgan Stanley, J.P. Morgan Partners, Emerging Markets Partnership,
and Compass Point Capital Partners.
Mr. Bethel graduated with distinction from the United States
Naval Academy, Annapolis with a B.S. in Economics and a B.S. in
Political Science. He also received an MBA from The Wharton School
of Business. He speaks Spanish, Portuguese, English and Mandarin
and resides in Shanghai with his wife and two children.
The Company also announced that it has granted a total of
300,000 options to Mr. Bethel and two Company employees. The
options vest over two years, have a term of five years and were
priced at C$.17, the closing price on July 12, 2011 the day the
options were granted.
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 Bongara 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 is undertaking a 6,000 meter drill
campaign in with the objectives of confirming a zinc oxide resource
and discovering deeper sulfide zinc ores.
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 August, 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).
Information about SinoLatin Capital Inc. can also be found on
the following website: www.sinolatincapital.com.
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.
Contacts: Rio Cristal Resources Corporation North American
investors Bernie Kennedy 877-489-4440
investorcanada@riocristalresources.com Rio Cristal Resources
Corporation Peruvian and Latin American investors Lucia Cestti (51)
(1) 628-5124 extension 102 investorperu@riocristalresources.com
www.riocristalresources.com
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