Content area
Abstract
(Marketwire - Nov. 28, 2011) - Rugby Mining Limited ("Rugby" or the "Company") (TSX VENTURE:RUG) is pleased to announce that it has entered into option agreements to earn up to 100% interest in the Rio Chico gold-platinum-copper project ("Rio Chico") and the Zonda porphyry gold-copper project ("Zonda") in Argentina.
Paul Joyce, Rugby's President and CEO stated: "The [Zonda] and Rio Chico projects fit well into Rugby's exploration portfolio. They represent potentially large scale mineralized systems that are company-maker opportunities for shareholders. Both projects can be made drill ready at relatively low cost."
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the British Colombia, Alberta and Ontario Securities Acts. This includes statements concerning the Company's plans at its projects, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the effect on prices of major mineral commodities such as copper, gold and iron by factors beyond the control of the Company; events which cannot be accurately predicted such as political and economic instability, terrorism, environmental factors and changes in government regulations and taxes; the shortage of personnel with the requisite knowledge and skills to design and execute exploration programs; difficulties in arranging contracts for drilling and other exploration services; the Company's dependency on equity market financings to fund its exploration programs and maintain its mineral exploration properties in good standing; political risk that a government will change, interpret or enforce mineral tenure, environmental regulations, taxes or mineral royalties in a manner that could have an adverse effect on the Company's assets or financial condition and impair its ability to advance its mineral exploration projects or raise further funds for exploration; risks associated with title to resource properties due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the interpretation of laws regarding ownership of mineral tenures in the Philippines and in the sometimes ambiguous conveyancing characteristic of many resource properties, currency risks associated with foreign operations, the timing for obtaining permits to conduct exploration activities, the ability to conclude agreements with local communities and other risks and uncertainties, including those described in each of the Company's management discussion and analysis including those contained in its year-end financial statements for the year ended February 28, 2011 filed with the Canadian Securities Administrators and available at www.sedar.com.