VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 5, 2012) - Zone Resources Inc. (Zone) (TSX VENTURE:ZNR)(FRANKFURT:7ZR) is pleased to announce the engagement of Grandich Publications, LLC (Peter Grandich) to provide investor relations and a communications program for the Company for a period of one year, subject to TSX Venture Exchange approval.
Peter Grandich is the Managing Member of Grandich Publications, LLC which publishes The Grandich Letter (first published in 1984) and provides coverage of the metals and mining industry. Mr. Grandich also provides a variety of corporate finance and development services to publicly-held companies. Mr. Grandich is a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts.
Under the terms of the agreement, Zone will pay Grandich Publications, LLC $2,500 (U.S.) per month, on the first day of each and every successive month during the term of this Agreement. In addition, Grandich Publications, LLC will receive 200,000 options, according to the Company's stock option plan and the policies of the TSX Venture Exchange. In accordance with exchange regulation TSX Policy 4.4, Section 2.3 (b), these options will vest over a period of 12 months.
Zone also announces that pursuant to its stock option plan, the Company has granted incentive stock options to its directors, officers, consultants, and employees to purchase in the total of 2,000,000 common shares in the capital stock of the company, subject to regulatory approval, exercisable for a period of five years, at a price of
.10 per share.
About Zone Resources Inc.
Zone Resources Inc. is a Canadian Iron ore exploration and development company with 4 major projects situated in the Labrador Trough of Quebec, Canada. The properties are near Adriana Resources' Lac Otelnuk Project and New Millennium's Kemag and Labmag projects. Historical drilling on the Moore-Ross property includes a significant hole grading 42.9% iron over 197 feet. Over 37 drill holes, the primary iron mineral is hematite and iron grades ranged from 17.25% to 44.8%. Technical information in this news release has been reviewed by Mike Magrum, PEng., a qualified person as defined in National Instrument 43-101. The Company's shares trade on the TSX Venture Exchange under the symbol ZNR.
Cautionary note:
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Neither the 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.
FOR FURTHER INFORMATION PLEASE CONTACT: Zone Resources Inc. Vancouver Office (604) 683 5445 Fax: (604) 687 9631(FAX) info@zone-resources.com www.zone-resources.comSource: Zone Resources Inc.