CJO Cerro Resources Nl

Cerro Resources NL (ASX:CJO)(TSX VENTURE:CJO) is pleased to advise that it has
raised A$2,319,500 through the share purchase plan (Plan), as initially
announced on July 9, 2012. 


Under the Plan, each eligible shareholder (being those holding fully paid
ordinary shares in the capital of the Company as at the Record Date and whose
address in the Company's register was in Australia or New Zealand), were invited
to subscribe for up to A$15,000 worth of fully paid ordinary shares in the
Company at a subscription price of A$0.07 per share.


Funds raised under the Plan will be used to:



--  secure the outstanding land required for development of the Cerro del
    Gallo project and attend to permitting and design requirements for the
    project's advancement; 
    
--  satisfy the Company's general working capital expenses; and 
    
--  fund ongoing exploration activities by the Company. 



The Company's Managing Director Tony McDonald said, "It is pleasing that
shareholders have responded favourably to this opportunity to participate where
market conditions are somewhat uncertain. They recognise the underlying value of
the Company's assets and hopefully a re-rating is not far off".


Canadian Regulatory Statement

All shares issued under the Plan will be subject to a regulatory four month hold
period in Canada under Canadian securities laws and cannot be traded on the TSX
Venture Exchange or be resold in Canada during this period, unless an exemption
is available from the applicable prospectus requirements in Canada. Shares
issued in Australia will be tradeable on the ASX but will not be convertible to
shares tradeable in Canada during this hold period. The Company will implement
appropriate controls with its share registries to ensure Canadian regulatory
requirements are met.


The new shares are expected to be issued on August 13, 2012 following receipt of
final approvals from the TSX Venture Exchange.


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.

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