CuOro Resources Corp.

CuOro Resources Corp.

May 02, 2011 17:33 ET

REVISED: CuOro Cuts Significant Results With an Average Length-Weighted Grade of 2.53% Copper Over a Total Sampling Length of 41.66m at the Santa Elena Project in Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 2, 2011) - CuOro Resources Corp. (TSX VENTURE:CUA) ("CuOro" or the "Company") is pleased to announce that systematic sawn-channel sampling has returned high-grade copper values with an average grade of 2.53% Cu over 41.66 m from the Santa Elena Project, located in the Department of Antioquia, Colombia.

Channel Sampling

CuOro conducted a channel sampling program on the mineralized Volcanogenic Massive Sulphide (VMS) outcrops at the Santa Elena Project. Channel samples were collected over 4 different areas which coincide with TEM geophysical anomalies – named TEM-1, TEM-2, TEM-3, and TEM-4 respectively. At TEM-1, channel samples were taken over discontinuous outcrops that spanned a total length of approximately 70 meters. Samples from TEM-2 were cut from a 5 meter exposed outcrop, the TEM-3 sample from a one meter outcrop, and the TEM-4 sample from a one meter outcrop as well. The TEM-1 outcrop is the furthest north of the outcrops. The TEM-3 outcrop is located 150 meters south of the TEM-1 outcrop, and 300 meters further south is the TEM-2 outcrop. The TEM-4 outcrop is located 200 meters south of TEM-2. In total, the outcrops span a distance of 650 meters from north to south.

The program included 51 saw-cut channel samples totaling 41.66 linear meters forming 15 composite channels across the exposed outcrops. The assay results were significant returning the length weighted average grade of 2.53 % copper. The highest individual results from this initial round of sampling was one meter at 6.31% copper and 0.62 meters at 6.07% copper and the highest length-weighted average result was 4 linear meters at 4.96% copper. Assay results are listed in Table 1. Channel samples are considered representative of the in-situ mineralization sampled.

The Company is planning an aggressive exploration program at Santa Elena, which includes; extensive mapping and surveying, airborne and ground geophysical surveys, as well as extensive diamond drilling. Geophysical surveys are expected to commence within the next few weeks followed up by diamond drilling.


Technical Highlights

The Santa Elena Project exhibits outcropping massive sulfide mineralization, which is primarily composed of chalcopyrite, pyrite, and pyrrhotite. The deposit has been classified as a Besshi-Type VMS deposit, based on its geochemical and geological characteristics.

Cuoro staff located the channels on any and all exposed outcrops which exhibited massive sulfide mineralization. The exposed outcrops were cleaned of debris and plant matter with a high pressure water sprayer. Channels were clearly marked in bright orange spray paint and intervals at one meter lengths were numbered. Due to the limitations of natural outcroppings this nominal spacing was adjusted to fit local conditions. Sawn channels were then cut using a gas powered saw and the resulting channel samples broken from the cut using a chisel. Care was taken so that no samples fell to the ground in order to avoid any possible contamination. Channel samples were cut perpendicular to stratigraphy, or parallel to the ground.

In some cases gaps in the outcrop prevented continuous sampling of the channel interval, or required offsetting of samples by short distances to obtain the most complete sampling across the length of the outcrop and channel interval. All gaps in sampling were measured and recorded. In all cases, the length weighted average grade has been calculated over the length that was actually sampled and the sampling gaps have not been considered in the length weighted average calculation.

The mineralized outcrop in some cases such as at TEM-1 has a clearly defined structure, that is, partial width is exposed. However, at other sample sites structure is not clearly evident. It is uncertain in most cases to be able to determine the true widths of the exposed outcrop. We anticipate that structure will more clearly defined in our upcoming drill program.

About CuOro Resources Corp.

CuOro Resources Corp.'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. 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.


All samples were assayed by Inspectorate at its laboratory in Reno, Nevada, after preparation at an Inspectorate facility in Medellin, Colombia. Duplicate channel samples were collected for QA/QC control and sent for testing by SGS at its Peru Minerals laboratory. A total of six random duplicate samples were collected. Copper assay results from four of the duplicate samples are within less than 5% of the original samples, whereas the remaining two samples which exceeded 5% returned higher grades than the original samples.

The above information has been prepared under the supervision of James Harris, P.Geo., who is designated as a "Qualified Person" with the ability and authority to verify the authenticity and validity of the data.

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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