OTTAWA, ONTARIO--(Marketwire - May 2, 2012) - Mazorro Resources Inc. ("Mazorro" or the "Company") (TSX VENTURE:MZO)(FRANKFURT:JAM) announces that it has entered into a contract for the provision of financial public relations and investor relations services with Barry Kaplan Associates. The contract has an initial six month term and is renewable for additional six month terms. Consideration payable in accordance with the service contract includes a monthly fee of US $4,000 and 400,000 stock options. The stock options are exercisable at $0.10 per share and have an expiry date of April 30, 2014. Terms and conditions of the stock options are governed by the Company's stock option plan.
This contract and stock option grant is subject to acceptance by the TSX Venture Exchange.
In other news, Marc L'Heureux has resigned his position as a director of the Company effective April 30, 2012 in order to focus on other ventures.
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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