2013-01-14 23:34:07 -
Toronto, Ontario CANADA, January 14, 2013 /FSC/ - Zara Resources Inc. (ZRI - CNSX"Zara") announces that it has received an updated NI43-101 Technical Report ( the "Report") on its Riverbank property. The Report was prepared by the Sibley Basin Group and authored by Alan Aubut P.Geo.
The Report describes the geology and work done to date on Riverbank in the McFauld's Lake Area, Ontario, and recommends a first phase exploration program consisting of ground geophysics followed by diamond drilling to confirm the presence of magmatic sulphides. The recommended budget for this program is $627,000. The full report is available on Zara's profile on SEDAR and on its website www.ZaraResourcesInc.com
The Riverbank property consists of 8 unpatented mining claims comprising 87
claim units covering an area of approximately 1392 ha. Zara executed an agreement with Melkior Resources Inc to acquire 100% of the claims interest on December 17, 2012. Zara had previously owned an option whereby it could earn up to a 70% interest in Riverbank, and that option is now negated as Zara owns 100% of Riverbank.
Alan Aubut, P. Geo., the author of the Report, is the Qualified Person responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release, and has reviewed and approved the content herein. Mr. Aubut is independent of Zara..
About Zara Resources
Zara is a Toronto based mineral company developing its Riverbank and Pigeon River nickel-copper projects in Ontario, Canada, as well as the acquisition and development of other Canadian natural resource properties.
For more information please see www.ZaraResourcesInc.com or contact Danny Wettreich at (647) 931 9775 or email@example.com
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Zara Resources Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CNSX has not reviewed, approved or disapproved the content of this press release
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