Figure 2: Recent Rock Chip Assays Compared to Previous Released Results
SOIL SAMPLING RESULTS: The -80 mesh soil grid has been expanded to cover an area measuring approximately 2km by 1.5km with a sample spacing at 25m x 100m. Image enhancement of the soil data for gold and silver (Figures 3 and 4) shows coincident anomalies associated with known structures and provides strong evidence for extension of the vein systems.
Figure 3: Au g/t in SOIL GRID
Figure 4: Ag g/t in SOIL GRID
Competent Person/Qualified Person
The technical information in this news release is based on information compiled Mr Bill Fleshman, who is a Chartered Professional and Fellow of the Australasian Institute of Mining and Metallurgy. Mr Fleshman is a consultant to Cerro Resources NL and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results and "qualified person" as this term is defined in Canadian National Instrument 43-101 ("NI 43-101"). Mr Fleshman consents to the inclusion in this news release of the information in the form and context in which it appears.
About Cerro Resources
Cerro Resources is a precious and base metals exploration and development company. The Company is currently focused on Mexico where it has the development stage Cerro del Gallo gold/silver project in the central state of Guanajuato, Mexico, and two exploration projects - the Namiquipa silver project in northern Mexico, and the Espiritu Santo gold/silver project in Jalisco. It also maintains interests in the Mt Isa, Queensland, region where it holds 100% of the Mt Philp haematite project as well as a continued interest in the Kalman molybdenum, rhenium, and copper project.
Cerro Resources recently announced it had agreed to enter into a Scheme of Arrangement with Primero Mining Corp and, subject to approval of the shareholders and regulators, the outcome of which will be that Primero will own Cerro Resources NL, including the Cerro del Gallo project, and a new Company, Santana Minerals Limited, will own the projects other than Cerro del Gallo. Santana will be owned by the Cerro Resources Shareholders as to 80.01% and Primero as to 19.99% after subscribing $4m.
Additional information about the Company, the transaction with Primero and its projects is available on the Company's website at www.cerroresources.com and on SEDAR.
This news release contains certain "forward-looking information" under Canadian securities laws. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Forward looking information in this news release includes statements regarding the structure of the mineralisation of the project, the results of the exploration program, the interpretation of such results, and the potential of the Espiritu Santo project. Forward looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company's control, including risks related to mining exploration and the availability of financing for companies such as the Company. There can be no assurance that outcomes anticipated in the forward looking information will occur, and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.
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.
Cerro Resources NL
+61 7 3221 7501
Cerro Resources NL
General Manager Investor Relations - Australia
+61 2 9300 3341
Cerro Resources NL
Ms. Gerri Paxton
Manager Investor Relations - North America
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