CJO Cerro Resources Nl

Cerro Resources NL (ASX:CJO)(TSX VENTURE:CJO) is pleased to advise receipt of
further highly encouraging surface sampling results, in preparation for a drill
program at the Espiritu Santo Gold/Silver exploration project, in Jalisco State,
Mexico.


Highlights



--  23.3 g/t Au screen fire assay from 4m section of Patas vein; 
--  27.8 g/t Au rock chip sample from Patas/Pipi vein; 
--  Multiple +1 g/t Au samples from multiple veins in results to date, and 
--  18 major quartz breccia veins now identified (strike lengths up to 1km+
    and typical widths of 3 - 12 meters) within the 5,800 ha project area. 



Tony McDonald, Managing Director: "We are particularly encouraged both by the
high grade values in several of the samples and number of gold-bearing veins
identified to date at Espiritu Santo."


"It is increasingly apparent that this is a priority gold/silver exploration
project, with the Patas/Pipi vein area likely to lead the target list when the
first drilling campaign commences later this year."


Espiritu Santo is located 130 km west of Guadalajara and 50 km east of Puerto
Vallarta. Lying within a northwest corridor defined by numerous, predominantly
gold/silver, low sulphidation mineralised occurrences, this prolific zone hosts
several active exploration projects, including Endeavour Silver Corporation's
San Sebastian development project to the northwest and Soltoro Ltd's El Rayo
Project to the southeast (Figures 1 and 2).


Figure 1: Location of Espiritu Santo is available at the following address:
http://media3.marketwire.com/docs/Figure1_Location_of_Espiritu_Santo.pdf. 


Figure 2: Location of Espiritu Santo within Major NW Gold Trend is available at
the following address:
http://media3.marketwire.com/docs/120822-Figure2_Location_of_Espiritu_Santo_within_Major_NW_Gold_Trend.pdf.



Gold and silver with associated copper, as well as low levels of lead and zinc
mineralisation at Espiritu Santo occurs as low sulphidation quartz-sulphide
style Au + Cu epithermal mineralisation. These systems are typically formed
within structures overlying a buried intrusion source.


Cerro's exploration team is currently working on several vein systems within the
large concession block, utilising surface sampling and geological mapping for
the purpose of defining drill targets to be tested post rain season. 


Table 1 lists the significant surface samples (greater than 0.5 g/t Au) not
previously reported; 26 of the recent rock samples exceed 1g/t Au. 


Table 2 for ease of reference to Figures 3 and 4, lists surface samples
previously reported in July.


Table 1: Highlights of Recent Espiritu Santo Surface Sampling AND Table 2:
Highlights of Espiritu Santo Surface Sampling Previously Reported are available
at the following address:
http://media3.marketwire.com/docs/120822-Table_1-2_CJO_Highlights.pdf. 


Figure 3: Location of Espiritu Santo Surface Sampling is available at the
following address:
http://media3.marketwire.com/docs/120822-Figure3_Location_of_Espiritu_Santo_Surface_Sampling.pdf.



Figure 4: Location of Espiritu Santo Surface Sampling in Patas/Pipi Vein Area is
available at the following address:
http://media3.marketwire.com/docs/120822-Figure4_Location_of_Espiritu_Santo_Surface_Sampling_in_Patas-Pipi_Vein_Area.pdf.



Figure 5: Patas/Pipi Vein Sampling is available at the following address:
http://media3.marketwire.com/docs/120822-Figure5_Patas-Pipi_Vein_Sampling.pdf. 


Patas/Pipi Vein System- The Patas/Pipi Vein system is developing into a major
exploration target as highlighted by the gold assays reported in Table 1 and in
Figures 3 and 4. Currently the area is defined by at least two major vein
systems that trend NE and are located within a possible dilation zone extending
from the gold bearing N-S Arrizon system. The additional discovery of a third
vein in the area, the Jenny Vein, is contributing to the Patas/Pipi area being a
robust target area. 


Twenty (20) of the recent samples collected in the Patas/Pipi area exceed 1g/t
Au. Gold values range from less than detection to a high of 27.8 g/t Au (Sample
ES-1314). 


Field work is continuing in the Patas/Pipi area as well as returning to the
Carmela Vein (4 samples exceeded 1 g/t Au, Table 2) and also to El Tigre (high
sample 4.06 g/t Au, Table 2) areas where vein widths are observed to be up to 8
- 12 meters. Additional sampling and mapping is needed to finalise drill targets
in these areas.


Competent Person/Qualified Person

The technical information in this news release is based on information compiled
by 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 mineralisation 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 focus on the Mt Isa, Queensland, region where it holds
100% of the Mt Philp haematite project as well as a continued 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 mineralisation of the
project, the results of the exploration program, the interpretation of such
results, and the potential of the Espiritu Santo 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

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