CuOro Resources Corp.

CuOro Resources Corp.

July 12, 2011 03:00 ET

CuOro Reports Shallow Drill Results of 5.63% Copper Over 7.61 Meters at Santa Elena Project, Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2011) - CuOro Resources Corp. (TSX VENTURE:CUA)(FRANKFURT:6BC) ("CuOro" or the "Company") is pleased to announce shallow drilling has returned high grade copper mineralization at its Colombian Santa Elena Copper-Gold Project.

The Company used a small, hand-held portable drill in order to test mineralization of the TEM 1 exposed Volcanogenic Massive Sulfide (VMS) outcrop. This small drill was expected to drill to depths of up to 15 meters; however, technical difficulties resulted in only two shallow holes being drilled. These two shallow holes were drilled to depths of 3.55 meters and 7.61 meters respectively at a down dipping angle of 20 degrees (widths represent down hole core lengths and the true width is unknown at this stage). The one and a half inch diameter core from these shallow holes was assayed at one-meter intervals. The highest individual result was from hole C4-4 which returned a one meter interval grading 9.51% copper, while the two holes averaged 5.63% Cu over 7.61 meters and 4.53% Cu over 3.55 meters.

Results are listed in Table 1.

Sample Depth (m) Depth Length Au Ag Cu Pb Zn
Designation From To (m) (g/t) (g/t) (%) (g/t) (%)
TEM C4-4 0 1 1 0.425 9.2 3.88 86 0.35
TEM C4-4 1 2 1.00 0.308 9 3.77 96 0.26
TEM C4-4 2 3 1.00 0.327 9 3.93 104 0.26
TEM C4-4 3 4 1.00 0.332 8.5 3.75 108 0.23
TEM C4-4 4 5 1.00 0.369 11.6 4.77 132 0.35
TEM C4-4 5 6 1.00 0.571 17.5 7.48 236 0.67
TEM C4-4 6 7 1.00 0.555 21.5 9.51 266 0.82
TEM C4-4 7 7.61 0.61 0.632 19.2 7.98 216 0.62
AVERAGE 0.44 13.19 5.63 156 0.44
Sample Depth (m) Depth Length Au Ag Cu Pb Zn
Designation From To (m) (g/t) (g/t) (%) (g/t) (%)
TEM C4-5 0 1 1 0.396 11.2 3.92 118 0.45
TEM C4-5 1 2 1 0.566 16.9 5.93 168 0.62
TEM C4-5 2 3 1 0.317 10.3 3.96 98 0.29
TEM C4-5 3 3.55 0.55 0.379 9.7 4.31 108 0.27
AVERAGE 0.41 12.03 4.53 123 0.41

Technical Highlights

The Santa Elena Copper-Gold project exhibits outcropping massive sulfide mineralization. The sheared, fine to medium grained mineralization is primarily composed of pyrrhotite, chalcopyrite and pyrite, and has been classified as a Beshi-Type VMS deposit based on geological and geochemical characteristics. The Santa Elena Project is situated near the north end of the Antioquia batholiths, in a sequence of Cretaceous marine sediments and basaltic volcanics and is hosted by hornfels, cretaceous sandstone and argillite of the San Pablo Formation. The San Pablo Formation is in contact with the quartz dioritic Antioquia Batholith immediately to the east of the mineralized outcrops.

Robert Sedgemore, President and CEO, commented: "We are very pleased with the confirmation of high copper mineralization at the Azufral outcrop at shallow depths, and now that our Phase I drill program has commenced on Sunday July 10th, 2011 we look forward to discovering the true potential of the Santa Elena project over the coming months."


All drill core samples pulps were prepared at the Inspectorate lab facility in Medellin, Colombia and assayed by Inspectorate laboratory in Reno, Nevada. As part of the quality assurance/quality control program a series of duplicates and blanks were completed.

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.

Santa Elena Property

The Company's current exploration activities are focused on the Santa Elena Copper-Gold project, where the Company holds an option to acquire a 100 % interest by making staged cash payments and funding work program costs. The project comprises 1,287 hectares in the prolific Antioquia Batholith district located 140 kilometers North East of Medellin in a socially stable and mining-friendly district. Infrastructure is excellent from a development perspective, including paved road access to the property gate, three hydroelectric plants within a 5 kilometers radius and abundant water supply.

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 $24 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

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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