LONGUEUIL, QUEBEC--(Marketwire - June 20, 2012) - Cerro Resources NL (ASX:CJO)(TSX VENTURE:CJO) is pleased to advise it has received excellent final drill results from the Stage 1 diamond core drill campaign at the Namiquipa Silver Project (CJO - 100%), in Chihuahua, Mexico.

HIGHLIGHTS

• Drilling has identified a broad zone of confluence between the principal Princesa and America vein systems;
  
  
• 11 out of the 16 holes yielded silver intercepts greater than 100 g/t Ag;
  
  
• 7 holes yielded silver intercepts greater than 200 g/t Ag, including:
  
  
  • 3.66m@ 738g/t AgEq (NAM-085) from 122.34m (654g/t Ag, 0.62% Pb and 2.43% Zn),
    
    
  • 8.8m@ 268g/t AgEq (NAM-084) from 145.12m (255g/t Ag, 0.19% Pb and 0.32% Zn), including 0.25m@ 2,397 g/t AgEq from 145.12m (2,340g/t Ag, 1%Pb and 1% Zn), and
    
    
  • 4m@ 383g/t AgEq (NAM-078) from 148m (363g/t Ag, 0.6%Pb and 0.2% Zn).
    
    

Stage 1 drilling, comprising 86 holes, has delineated a major silver-driven system of largely contiguous mineralized veins (Ag-Pb-Zn) encompassing 1km lateral strike, and extending from 150m below surface to 500 meters down-dip.

The drill results from this extensive system will now be incorporated into a detailed geological-geophysical-geochemical model for purposes of completing an initial resource estimation during the second half 2012.

Surface exploration, consisting of soil geochemistry and a planned Induced Polarization geophysics, is also underway to better define the northern extension of the Namiquipa mineralization. This will be subject of drill testing at a later stage - post the initial resource assessment.

To view Figure 1: Drillhole Location Plan, please visit the following link: [ http://media3.marketwire.com/docs/cerroFig1.pdf ]

Competent Person/Qualified Person

The technical information in this news release is based on information compiled Mr Bill Fleshman, who is a Chartered Professional and Fellow of the Australasian Institute of Mining and Metallurgy. Mr Fleshman is a consultant to Cerro Resources NL and has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results and "qualified person" as this term is defined in Canadian National Instrument 43-101 ("NI 43-101"). Mr Fleshman consents to the inclusion in this news release of the information in the form and context in which it appears.

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 and its projects is available on the Company's website at [ www.cerroresources.com ] and on SEDAR.

Forward-Looking Information

This news release contains certain "forward-looking information" under Canadian securities laws. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Forward looking information in this news release includes statements regarding the structure of the mineralization of the project, the results of the exploration program, the interpretation of such results, and the potential of the Namiquipa project. Forward looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company's control, including risks related to mining exploration and the availability of financing for companies such as the Company. There can be no assurance that outcomes anticipated in the forward looking information will occur, and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.

ABN: 72 006 381 684

Contributing Sources

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