Cerro Resources NL Files its Half-Year Financial Report

LONGUEUIL, QUEBEC -- (Marketwire) -- 03/08/13 -- Cerro Resources NL (ASX: CJO)(TSX VENTURE: CJO) (the "Company") has filed its Interim Financial Statements and Directors' Report for the half-year period ended December 31, 2012. They can be viewed on the Company's website at www.cerroresources.com and have been filed on SEDAR at www.sedar.com.


About Cerro Resources

Cerro Resources is a precious and base metals exploration and development company. The Company projects include the development stage Cerro del Gallo gold/silver project in the central state of Guanajuato, Mexico, and two exploration projects - the Namiquipa silver project in northern Mexico, and the Espiritu Santo gold/silver project in Jalisco. It also maintains interests in 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.

In December 2012, Cerro announced that it had entered into a transaction with Primero Mining Corp ("Primero"), for Primero to acquire the Cerro del Gallo project (via acquiring all of the shares on issue in Cerro) and form a new exploration company (to be named Santana Minerals Limited) into which the other Cerro assets (namely Namiquipa, Espiritu Santo and the Australian interests) would be transferred. The transaction provides for Cerro shareholders to receive 0.1 Santana share plus 0.023 Primero share, for every one Cerro share owned as at the record date. Legal, compliance and administrative steps are underway leading to Cerro securityholder approval anticipated to be sought in April 2013 and if successful completion is likely in May 2013.

Information about the Company, its projects and the transaction with Primero is available on the Company's website and on SEDAR.

Completion of the transaction with Primero is subject to a number of conditions, including TSX Venture Exchange acceptance and disinterested shareholder approval. The transaction cannot close until the required shareholder and Court approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed by the Company, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Cerro Resources should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:

Tony McDonald, Managing Director
+61 7 3221 7501
admin@cerroresources.com

Greg Germon, General Manager Investor Relations - Australia
+61 2 9300 3341
greg@cerroresources.com

Ms. Gerri Paxton, Manager Investor Relations - North America
+1-514-544-2696
gpaxton@cerroresources.com