Caerus Resource Corporation

Caerus Resource Corporation

April 13, 2011 09:01 ET

Caerus Resource Reports Sample Results at El Cafetal Gold Mine

-- MMI surface results identify 600 by 300 meter anomalous zone over a stockwork.

-- The Salto Adit samples return 25.5 meters of 2.65 grams per tonne Au along structure. The sample widths averaged 1.0 meter in width.

-- A Crosscut within the stockwork structure returns 24 meters of 1.17 grams per tonne Au.

-- Drill target to be further defined by ground IP prior to drilling.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 13, 2011) -Caerus Resource Corporation (TSX VENTURE:CA) ("The Company") is pleased to report results from an ongoing exploration program at the El Cafetal Gold Mine, located in Valparaiso District, Colombia. Work has included a surface Mobile Metallic Ion (SGS Laboratories Proprietary Process) sample program and a chip sample program within existing adits.

Over fifty adits and prospects have been identified throughout the property. Gold-silver mineralization occurs within a zone of generally east-west striking, vertical to steeply dipping, sub-parallel sulfide veinlets. This zone has been identified as a "stockwork" zone, and has been the focus of exploration by the Company. Historic and present mining has focused on locations where the veinlets intersect and form higher grade zones. The intent of the program was to confirm the potential for dissemination outside of the higher grade zones.

All sampling was done by contract geologists under the supervision of Paul Pelke, a Qualified Person as defined by NI 43-101. MMI samples were analyzed by SGS Laboratories in Lima, Peru, an ISO 9001 certified laboratory. Rock samples were fire assayed by Inspectorate America Laboratory in Reno, Nevada, an ISO 9001 certified laboratory.

The MMI surface sample program identified a soil anomaly approximately 600 meters east-west by 300 meters north-south. This zone contains the "stockwork" zone.

One of the largest adits within this zone is the Salto Adit. Sampling of one meter widths along the structure returned 25.5 meters of 2.65 g/tonne Au including 3.0 meters of 5.95 g/tonne Au. One part of the adit where the vein split into four veinlets was sampled by 1.0 meter channel samples across the width of the back; this 9 meter length of adit averaged 3.87 g/tonne Au and 5.7 g/tonne Ag.

An entry crosscut of the Salto Adit cuts across part of the "stockwork" zone. Minera Ophir sampling of the crosscut resulted in 24 meters of 1.17 g/t Au and 1.8 g/t Ag, including gold values ranging from 3.0 meters of 0.13 g/t Au to 3.0 meters of 4.74 g/t Au, and represents the entire length of the crosscut. Wall rock samples taken along the vein averaged 1.19 g/tonne Au with a high value of 9.91 g/tonne Au. These results are considered an indication that the "stockwork" zone constitutes a bulk mining exploration target. Multiple veins have been mapped within the stockwork zone, and others are being discovered with continued exploration.

The upper and lower Pomo adits are outside the mapped zone of stockwork mineralization but were sampled because they were the source of most of the production in the district, with the intent to locate higher grade material that could be mined to satisfy the requirement for production to keep the title valid.

Sampling in the lower Pomo adit returned values ranging from 0.02 g/tonne Au to 14.85 g/tonne Au in veins that were from 3 to 40 centimeters in width; and include 3.0 meters of 3.52 g/tonne Au, 3.0 meters of 2.44 g/tonne Au and 3.0 meters of 2.22 g/tonne Au.

Sampling in the upper Pomo adit returned values from 0.09 g/tonne Au to 47.63 g/tonne Au from veins that were from 1 to 22 centimeters in width, and wall rock sampling returned averages of 93 meters of 0.29 g/tonne Au (north wall) and 105 meters of 0.75 g/tonne Au (south wall). The north wall sampling contained one 3.0 meter interval of 2.92 g/tonne Au but the south wall sampling contained five intervals with more than one gram per tonne gold, including 3.0 meters of 6.27 g/tonne Au, 3.0 meters of 3.88 g/tonne Au and 6.0 meters of 2.52 g/tonne Au. The two adits open in the edge of a 120 by 200 meter MMI soil anomaly similar to that located over the stockwork zone, but extend out of the anomaly.

The Company has advised the owner, Inversiones Midas, that it intends to complete the formal acquisition of the property. Management is now completing a formal agreement on the terms previously disclosed. A NI 43-101 Technical Report has been commissioned from Paul Pelke, a consulting geologist and the supervising Qualified Person for the current exploration. The El Cafetal Gold Mine is a mining concession under Colombian Mining Law. Under the terms of the agreement, Inversiones Midas will transfer the title into trust until the acquisition is completed. Exploration will be ongoing during the completion of the acquisition. A finder's fee is payable as part of this transaction.

Mr. Paul A. Pelke, a registered geologist in the state of California and a Qualified Person as defined by NI 43-101 has reviewed the content of this press release.

On Behalf of the Board of Directors of Caerus Resource Corporation.

Adrian F.C. Hobkirk, President and Chief Executive Officer

This news release contains certain "forward- looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.

The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release.

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