VANCOUVER, BRITISH COLUMBIA – (December 4, 2008) - Rio Cristal Zinc Corp. (the “Company” or “RCZ”) (TSX.V: RCZ), is pleased to announce that it has successfully renegotiated its Mining Concession Transfer Agreement (“Concession Transfer Agreement”) with Compania Minera Pilar del Amazonas (“Amazonas”) on the 25,073 hectare Charlotte Bongará claim block in northern Peru.    

Charles Ushela, President and CEO of Rio Cristal Zinc, said "The renegotiated agreement with Amazonas delays two option payments for up to two years and allows us to conserve cash during this time of market uncertainty.”

The modification to the Concession Transfer Agreement (originally signed April 16, 2007) extends the due date for two option payments due Cia. Pilar de Amazonas S.A., the owner of the concessions.  A US$150,000 option payment due March 15, 2009 is deferred in two tranches; US$50,000 is payable October 15, 2010, a delay of 18 months, and US$100,000 is payable March 15, 2011, a delay of 24 months.  A second option payment in the amount of US$200,000 currently due March 15, 2010 is deferred until March 15, 2011, a delay of 12 months.  Interest on all unpaid deferred amounts is accrued at an annual interest rate of 10%, compounded monthly, and is payable on each six month anniversary of the original payable date.

The original agreement is available on SEDAR. 

About Rio Cristal Zinc Corporation

Rio Cristal Zinc is a Canadian corporation focused on the discovery and further development of zinc deposits in Peru. The principal asset of RCZ is the Charlotte Bongará claim block located in northern Peru within an emerging Mississippi Valley-type zinc district. Additional information can be found on the Company’s website, www.riocristalzinc.com.
For further information please contact Ross Knutson at:
Telephone: (778) 588-6880
Toll Free: (866) 609-9644
Fax: (604) 609-9946
E-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential exploration results, future plans and objectives of the Company are forward-looking state

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