VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 14, 2013) - Zincore Metals Inc. (TSX:ZNC)(LMA:ZNC) ("Zincore", the "Company") reports that in order to further preserve cash, the Company is initiating new cost-cutting measures, including a reduction of office space both in Vancouver and Lima, as well as salary, fee and staff reductions. As part of this initiative, Dr. David Terry will be relinquishing his post as VP, Exploration, but will continue to act as a technical advisor to the Company.
Zincore President and CEO, Jorge Benavides, commented "Cuts like the ones we are making are never easy. However, we need to do all that we can to preserve funds so that we have the best chance possible to realize the value from our projects."
Mr. Benavides added, "In the short time David has been with our Company, he has helped us complete a Pre-Feasibility Report for our Accha Zinc Oxide District project as well as contributed to the Technical Committee governing our joint venture activities with First Quantum Minerals. Although we will miss the skills David brought to our Company on a day to day basis, our geological team on the ground in Peru will remain intact."
About Zincore
Zincore is a Vancouver-based mineral exploration company focused mainly on zinc and related base metal opportunities in Peru. The Company's common shares trade on both the Toronto and Lima Stock Exchanges under the symbol ZNC. For more information, please see our website at
www.zincoremetals.com.
Forward-looking Statements: Statements in this release that are forward-looking, in particular with regards to the potential of the Company's new and existing projects are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Annual Information Form of Zincore dated March 22, 2013 which is filed with Canadian securities regulatory authorities and available on SEDAR (
www.sedar.com). Such information contained herein represents management's best judgment as of the date hereof based on information currently available.