OTTAWA, ONTARIO--(Marketwire - March 29, 2012) - Mazorro Resources Inc. ("Mazorro" or the "Company") (TSX VENTURE:MZO) (FRANKFURT:JAM) is pleased to announce the appointment of Leo Cote to its board of directors.
Mr. Cote is a bilingual professional engineer with over 35 years of experience in the mining industry. Mr. Cote brings a wealth of experience in advancing mines into production and managing mines in the Quebec region. Mr. Cote has led the completion of numerous feasibility and pre-feasibility studies.
Mr. Dean Hanisch, President and CEO of Mazorro stated, "We are very excited to have Mr. Cote join our board as he has put into production a host of intermediate mines in the Quebec region both underground and open pit. Mr. Cote will serve as a valued advisor to ensure the Company's exploration approach is realistic in meeting future mining objectives for Mazorro or a future third party".
In connection with Mr. Cote's appointment as director, the Company has granted Mr. Cote a total of 250,000 stock options exercisable at $0.10 per stock options. These stock options expire on March 29, 2017 and are subject to the terms and conditions of the Company's stock option plan. Mr. Cote's appointment and the grant of stock options is subject to TSX Venture Exchange acceptance.
Mazorro Resources Inc. is a TSX Venture listed, Canadian based, precious metals exploration company that is active in creating value through exploration and development of bulk tonnage and high-grade gold deposits within Canada's Abitibi Gold district. Mazorro has 47,364,773 common shares outstanding.
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.Neither the TSX Venture Exchange or 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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