VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/13/11 -- Zoro Mining Corp. (OTCBB: ZORM) is pleased to announce that on October 5, 2011 the Board of Directors of Zoro Mining Corp., a Nevada corporation (the "Company"), authorized the settlement of debt, consisting of outstanding convertible notes, advances, promissory notes, services, accrued interest and other amounts totaling US$1,090,737 (the "Debt"). Under the terms of the approved agreements the Company will satisfy the Debt with the issuance of 6,543,114 shares of restricted common stock of the Company at a deemed issuance price of US$0.1667 per share for debt associated with cash expenditures advanced to the Company.
More detailed information with respect to Zoro's projects, corporate information, and leadership team can be found at the company's website: www.zorominingcorp.com
Should you have any questions or comments, please do not hesitate to contact the Company at the referenced number below.
FORWARD-LOOKING STATEMENTS: This press release may contain projections and certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, that involve various risks and uncertainties regarding future events. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) inability to complete the Earn-In for any reason; (ii) adverse market conditions; (iii) a decrease in demand for and price of gold and precious metals; (iv) the inability to obtain, or a change in local governmental or regulatory approval or policies that may adversely affect permitting and the exploration work; (v) general uncertainties with respect to mineral exploration;(vi) the possibility of project cost overruns and of unanticipated costs and expenses; and (vii) the availability and costs of financing needed in the future. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates of opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Contacts:
FCSI
Hal Johnston
1-604-606-7967 or Toll Free: 1-877-706-7979
hjohnston@weatpeakcapital.com
www.zorominingcorp.com