Cerro Resources NL
ASX : CJO
TSX VENTURE : CJO

Cerro Resources NL

November 14, 2011 10:08 ET

Cerro Resources NL: Espiritu Santo Jalisco Project TSX-V Approval

LONGUEUIL, QUEBEC--(Marketwire - Nov. 14, 2011) - Cerro Resources NL (ASX:CJO)(TSX VENTURE:CJO) is pleased to advise that the TSX Venture Exchange has accepted the transaction whereby the Company, through its wholly owned Mexican subsidiary, secured exploration rights and obtained an option to acquire 100% of the Espiritu Santo gold/silver project in the Mascota-Navidad Mining District in Jalisco State, near the western coast of central Mexico, as announced on October 7, 2011.

The Company has issued 1,500,000 options in accordance with the acquisition announcement. The Company wishes to clarify that these options are finder's warrants for Canadian purposes. Each finder warrant is exercisable into one common share of Cerro at A$0.20 for a period of three years.

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 developing 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 is available on the Company's website at www.cerroresources.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.

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