CuOro Resources Corp.
TSX VENTURE : CUA
FRANKFURT : 6BC

CuOro Resources Corp.

November 30, 2011 03:30 ET

CuOro Exploration Tunnel Demonstrates Mineralization 300m Along Strike of Massive Sulphide Outcrops Returning Sample Grades Up to 5.14% Copper Over 1 Meter Sample Width at Santa Elena

MEDELLIN, COLOMBIA--(Marketwire - Nov. 30, 2011) - CuOro Resources Corp. (TSX VENTURE:CUA)(FRANKFURT:6BC) ("CuOro" or the "Company") is pleased to announce that is has completed a systematic geological mapping and sampling program within the Santa Elena Exploration Tunnel, located on the company's 100% owned Santa Elena Project, in the Department of Antioquia, Colombia.

Highlights:

  • Results show several samples have returned high-grade copper values. The best results came from 8 samples over a length of 11.5 meters, which returned average grades of 1.33 % copper, 0.22 % zinc, 0.07 g/t gold, and 6.7 g/t silver.
  • The best individual result returned 5.14% Cu, 0.23% Zn, 0.24 g/t Au, and 23.0 g/t Ag. over 1 meter sample width.
  • The assay results from the Santa Elena exploration tunnel Demonstrates mineralization 300m along strike of the massive sulphide outcrops and at a depth 104 meters below the outcrops elevation.
  • A total of 151 samples were completed over 50 meters returning assay values from 0 to 5.14% Cu as illustrated in attached Fig. 2 - Santa Elena exploration tunnel sample location and copper values.

CuOro conducted the geological mapping and sampling program within the existing Santa Elena Exploration Tunnel. Prior to the start of the program the company thoroughly cleaned the tunnel and installed both lighting and ventilation. The exploration tunnel has provided the Company with a better understanding of the local geology and verifies the continuation of the TEM-1 massive sulphide mineralization at depth and along strike. The TEM-1 outcrops are located 300 meters west of the tunnel.

Rock samples were collected in the tunnel over a distance of 50 meters every 1.5 meters on both sides of the tunnel - including the tunnel roof. The overall length of the tunnel is approximately 120 meters in total length and has three distinct diverging passageways - one to the east, north, and west. A total of 151 samples were collected in the east and west passageways and analyzed. Samples were not collected within the barren quartz-diorite intrusive. See Fig. 1 - Photo of Santa Elena Exploration Tunnel.

The tunnel geology clearly shows an east-west shear zone with coincident copper mineralization. Massive sulphide mineralization is found adjacent to this zone and has an east-west strike and is directly in line with the TEM-1 massive sulphide outcrops. Rocks are highly silicified and altered within this zone. Visual identification of the altered rocks was inconclusive, and therefore several samples were sent to the laboratory for whole rock analysis. See Fig. 3 - Geological mapping of Santa Elena exploration tunnel.

The sulphide zones at the TEM-1 outcrops and within the Santa Elena exploration tunnel are possibly part of the same ore zone. The company is currently drilling the 300-meter interval between these occurrences to test for continuity.

Sampling of the tunnel was performed by Cuoro personnel and was carried out under strict protocols. Samples were taken every 1.5 meters and each sample weighed approximately one kilogram. The insertion of blanks and duplicates was carried out. Samples were sent to SGS in Medellin where they were dried, crushed, and pulverized. After preparation of the samples they were sent to SGS in Lima and assayed. All gold assays were obtained by standard 50g fire assaying with AA finish. All copper, silver, and zinc assays reported in the press release were obtained by a four acid dissolution followed by ICP measurement.

The Santa Elena property is flanked by marine basalts to the west, marine sediments to the north, and a quartz-diorite intrusive to the east. The massive sulfide outcrops are essentially situated at the intersection point where these three separate lithological units meet. The exploration tunnel was sunk into the quartz-diorite intrusive 300 meters east of the massive sulfide outcrops and dug northward approximately 70 meters until the contact between the quartz-diorite and highly altered silicified rock were encountered. In this area two massive sulphide veins approximately one meter in width each strike east-west and have a sub-vertical dip of 75 degrees, the same dip and strike as the TEM-1 outcrops. From here the exploration tunnel was dug in both the east and west directions in order to follow the massive sulphide viens.

The above information has been prepared under the supervision of Michel Rowland, P.Geo., who is designated as a "Qualified Person", and who has reviewed the information and has verified the authenticity and validity of the data.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/cua1130fig1.pdf.

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/cua1130fig2.pdf.

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/cua1130fig3.pdf.

About CuOro Resources Corp.

CuOro's growth strategy has been to identify mineral properties that have significant potential to develop large scale resources in well-established and mining friendly districts such as Colombia. Management looks to leverage its exploration and development expertise to bring additional resources and value to shareholders and to reduce development risk and expense through its focus on community relations, corporate and social responsibility. With approximately $19 million in the treasury, the Company will continue to look for additional opportunities that can bring value to the Company and its shareholders through its approach to business. The company is committed to upholding the highest environmental and social standards while focusing on delivering the financial growth its shareholders expect.

For further information regarding CuOro, see CuOro's disclosure documents on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of CuOro,

Robert Sedgemore, President & CEO

Forward Looking Statement

Statements contained in this news release that are not historical facts constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date of this release. Forward-looking statements include, without limitation, possible events, statements with respect to possible events, the future price of gold and silver, the realization of mineral resource estimates and success of exploration activities. The words "is expected" or "estimates" or variations of such words and phrases or statements that certain actions, events or results "may" or "could" occur and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of the Company contained in this release which may prove to be incorrect, include, but are not limited to, (1) the discovery and expansion of mineral resources on the Company's Property being consistent with the Company's current expectations; (2) the implementation of Colombia's mining law and related regulations and policies being consistent with the Company's current expectations; (3) certain price assumptions for gold and silver. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold or certain other commodities; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, Colombia or other countries in which the Company does business or may carry on business in the future; business opportunities that may be presented to, or pursued by, the Company; operating or technical difficulties in connection with mining activities; the speculative nature of gold exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; and contests over title to properties, particularly title to undeveloped properties.

In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this release are qualified by these cautionary statements and those made in our other filings with the securities regulators in Canada. These factors are not intended to represent a complete list of the factors that could affect the Company. Although the Company believes that the expectations in the forward-looking statements are reasonable, actual results may vary, and future results, levels of activity, performance or achievements cannot be guaranteed.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

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