Rochester Re-Acquires 20% Interest in Mina Real Mexico SA de Cv
TSX Venture: RCT Frankfurt: R5I
Suite 1305-1090 W. Georgia St., Vancouver, BC, V6E 3V7 Phone: 604.685.9316 Fax: 604.683.1585
NEWS RELEASE
ROCHESTER RE-ACQUIRES 20% INTEREST IN MINA REAL MEXICO SA DE CV
Vancouver, British Columbia – January 31, 2013 - Rochester Resources Ltd. (TSXV: RCT and Frankfurt: R5I): (the "Company") Mr. Eduardo Luna, President and CEO, reports that the Company has exercised its option to re-acquire a 20% interest in its Mexican subsidiary, Mina Real Mexico SA de CV ("Mina Real"), which holds the Company's resource properties in Mexico. On November 21st 2008 the Company announced the joint venture farm out of a 20% interest in Mina Real and, in conjunction with this transaction, the Company was granted an option to re-acquire the 20% interest farmed out. The Company has now provided notice that it will re-acquire the 20% interest previously sold and has entered into agreements with the vendors with respect to a payment plan for the option exercise price of $4 million as well as amounts owing pursuant to the initial joint venture agreements and other amounts to be paid. In total the Company has agreed to pay $5.5 million over a term not exceeding 30 months in order to re-acquire the 20% interest previously sold. The amount owing will be secured by way of the 20% interest in Mina Real. On closing the Company will once again have right to a 100% interest in Mina Real.
ON BEHALF OF THE BOARD
"Eduardo Luna"
Eduardo Luna, President and CEO
Forward Looking Statements
This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. In addition, the Company has not conducted an independent feasibility study on the Mina Real project which may increase the risk that the planned operations are not economically viable. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither 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.