CJO Cerro Resources Nl

Cerro Resources NL (TSX VENTURE:CJO)(ASX:CJO) is pleased to advise that further
drill results from the Namiquipa Silver Project, in Chihuahua, Mexico, confirm
considerable silver/lead/zinc mineralization extending 200m North of the
historic La Venturosa mine workings. 


Results of 9 holes drilled in the northern area of the Princesa/Megan vein
system included: 




--  18m @ 261 g/t AgEq (NAM-064) from 155m, including 
    --  0.7m @ 1,332 g/t AgEq (NAM-064) from 156.8m (1,170 g/t Ag, 5.60%Pb) 
    --  1.0m @ 2,151 g/t AgEq (NAM-064) from 163m (1,995 g/t Ag, 5.57% Pb) 
--  0.87m @ 1,151 g/t AgEq (NAM-061) from 185.93m (771 g/t Ag, 6.93%Pb) 
--  0.57m @ 910 g/t AgEq (NAM-062) from 198.59m (614g/t Ag, 5.39%Pb and
    9.26% Zn) 
--  1.0m @ 1,179 g/t AgEq (NAM-065) from 189m (1,775 g/t Ag) 



More than 1km of strike length has now been demonstrated to show continuity
along strike and down dip within the vein systems (refer figure 1), with: 




--  Wide intervals of good grade material (+150g/t Ag Eq) recurring at
    depths of 130m-220m below surface, along the 1km approx. strike length,
    and where 
--  Supergene high grade (+1000g/t Ag Eq) intervals occur frequently both
    throughout the 130m-220m depth zone, as well as above and below that
    zone. 



Namiquipa Project Drill Program

The results reported are for drilling up to the end of March and for which assay
results have been received. Further drill results are pending. 


Figure 1 is a long section of pierce points with corresponding grades and
thickness along the Princesa/Megan vein system. Intersections along the America,
Mexico and Esmeralda veins are not shown. 


Figure 2 is a location map showing the locations of recent drill hole results
and the subject of this press release in the main target area (southern
extension holes not shown). 


Figure 3 is a simplified cross-section showing the continuity of mineralization
intersected in three of the drill holes being reported in this press release. 


Table 1 list the significant assay results for these drill holes. Assay results
were also received for NAM-056, in the southern extension area but did not
contain any significant results. 


The Princesa and Megan Veins 

Drill testing the Princesa/Megan system is the primary focus of the Namiquipa
drill program. Recent geologic modeling is pointing to a low sulphidation system
that is potentially expanding in the northern area of this +1.5km system.


Figure 1: http://file.marketwire.com/release/cerro_fig1.pdf

Figure 2: http://file.marketwire.com/release/cerro_fig2.pdf

Figure 3: http://file.marketwire.com/release/cerro_fig3.pdf

Table 1: http://file.marketwire.com/release/cerro_table1.pdf

The America Vein

As reported March 6, 2012, core hole NAM-010 was positioned between the Princesa
and the America Vein to test an IP anomaly and the potential for near-surface
mineralization associated with the hanging wall of the America Vein. The
near-surface mineralization is of prime interest because it represents potential
for open pit exploration in a future development scenario. 


NAM-010 successfully intersected multiple narrow veins consisting primarily of
moderate to high silver values (high of 392 g/t Ag over 1m from 115m) and
moderate to low lead and zinc values above 117m. From 117m to 120m the zinc
grades increased to highs of 1.61% over 1m. 


These results open the potential for near surface mineralization.

A second drill hole - NAM-011 - was also conducted to test the IP anomaly. 

Analyzing the core from this drill hole was put on a lower priority than the
Princesa/Megan drill holes. Recent results from analysis of the core from this
hole however has confirmed that the mineralization extends farther to the west,
beyond previously known mineralization and also points to the potential
usefulness of IP as a tool for locating additional mineralization in the area. 


Table 2: America Vein Drill Intercepts



------------------------------------------------------------------------
HOLE-ID   FROM      TO        LENGTH    Ag      PB      ZN      AgEq    
          (m)       (m)       (m)       g/t     %       %       g/t     
------------------------------------------------------------------------
NAM-011   217.0     218.0     1.0       238     0.15    0.33    246     
------------------------------------------------------------------------
NAM-011   224.3     224.72    0.42      134     0.06    0.51    138     
------------------------------------------------------------------------
NAM-011   267.0     268.0     1.0       68      0.22    0.02    80      
------------------------------------------------------------------------



The Silver equivalent grades ("AgEq") have been calculated using metal prices of
US$25oz Silver; US$1.00/lb Zinc; and US$1.00/lb Lead. Metal recoveries are not
considered in this calculation. Further drilling is required to provide a more
accurate assessment of vein thickness and true width may vary.


Drilling has continued to test the down dip projection of the America vein below
the lower levels of previous historic mining activity (250m) as well as to the
south of the known mining along of the America system.


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 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.

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