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TORONTO, ONTARIO -- (Marketwire) -- 01/07/13 -- Further to the announcement of December 14, 2012, a copy of the Scheme Implementation Deed entered into between Cerro Resources NL ("Cerro") (ASX: CJO)(TSX VENTURE: CJO) and Primero Mining Corp. ("Primero") (TSX: P)(NYSE: PPP) has been filed on SEDAR under Cerro's profile (www.sedar.com) and is available on Cerro's website (www.cerroresources.com).

The Scheme Implementation Deed sets out the material terms and conditions of the transaction between Cerro and Primero.

About Cerro Resources

Cerro Resources is a precious and base metals exploration and development company. The Company is currently focused on Mexico where it is advancing the Cerro del Gallo gold/silver project in the central state of Guanajuato, Mexico, actively exploring the Namiquipa silver project in northern Mexico, and commencing exploration on the Espiritu Santo gold/silver project in Jalisco. It also maintains an active working focus on the Mt Isa, Queensland, region where it is exploring the Mt Philp haematite project and it holds an interest in the Kalman molybdenum, rhenium, and copper project.

Additional information about the Company and its projects is available on the Company's website at www.cerroresources.com and on SEDAR.

About Primero

Primero Mining Corp. is a Canadian-based precious metals producer that owns 100% of the San Dimas gold-silver mine in Mexico. Primero is focused on delivering superior, sustainable value for all stakeholders with low-risk exposure to precious metals. The Company has intentions to become an intermediate producer by building a portfolio of high quality, low cost precious metals assets in the Americas.

Additional information about Primero and its projects is available on the Company's website at www.primeromining.com and on SEDAR.

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.



Contacts:
Tony McDonald, Managing Director & CEO
Craig McPherson, CFO & Company Secretary
+61 7 3221 7501
admin@cerroresources.com
www.cerroresources.com