LONGUEUIL, QUEBEC--(Marketwire - March 12, 2012) - Cerro Resources NL (ASX:CJO)(TSX VENTURE:CJO) is pleased to announce the filing on SEDAR ([ www.sedar.com ]) of a NI43-101 Updated Technical Report supporting the indicated and inferred mineral resource estimate for its 100%-owned Mt. Philp Haematite Iron Prospect located in Queensland, Australia, as announced in a press release dated January 31, 2012.

The Updated Technical Report was prepared by Ian Heath Sandercock, B.E. (Hons) Mining Engineering, Fellow AusIMM (CP), an independent consultant to Cerro and Trevor Allen Leahey, BSc (Hons), Member AusIMM, Chartered Professional Geologist, a consultant to Cerro. The report will be posted on Cerro's website within 24 hours.

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.

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