Cuervo Reports Results of Three Additional Holes at Cerro Ccopa

FSC / Press Release 
Cuervo Reports Results of Three Additional Holes at Cerro Ccopane Iron Project
in Peru 
Toronto, Ontario CANADA, November 13, 2012 /FSC/ - Cuervo Resources
Inc.(CNSX-FE; FWB-CRR; "Cuervo" or the "Company") is pleased to report results
of three additional holes drilled in the Bob 1 zone at its Cerro Ccopane Iron
Project in southern Peru. Each of the three holes, designated BDH12-11, BDH12-12
and BDH12-13, were drilled in the central area of the Bob 1 zone to confirm
input from nine previously drilled holes and to refine plans for step out
drilling to test northerly and southerly portions along the three kilometer
outcropping magnetic anomaly also identified by ground geophysical surveys.
Drill results to date have thus far demonstrated a 1,000 meter strike length of
high grade magnetite mineralization along the three kilometer magnetic anomaly. 
Following completion of the step out drilling, expected by current month end,
preparation of a NI 43-101 compliant resource estimate on the Bob 1 zone will
commence with release targeted for February 2013. An updated NI 43-101 resource
estimate on the nearby Orcopura, Huillque and Aurora zones of the Cerro Ccopane
Project was released in February 2012 and is available on the Company's website: 
Laboratory analysis of drill cores from the three new holes being reported
showed a weighted   average Fe grade of magnetite and mixed magnetite /intrusive
of 30.55 % Fe over a total 284.9 meters. This compares with 39.19% Fe over
1216.80 meters in nine previously drill holes on the Bob 1 zone. Of particular
importance, the three additional holes confirmed continuity of mineralization
along strike. The primacy of tonnage over grade follows from the expectation
that prospective production at Cerro Ccopane would be processed into a standard
commercial Fe grade concentrate. Tables 1 through 3 present analytical summaries
of results from BDH12-11, BDH12-12 and BDH12-13. 
Drill holes BDH12-11, BDH12-12 and BDH12-13 intersected intervals of magnetite
with intervals of an intermediate intrusive. Sulphide mineralization
(predominantly pyrite) is also locally present in all drill holes reported on
the Bob 1 zone. 
Table 1 
Summary of Results BDH-12-11 
Fe      of    Above               Assay Results
From    To    Cut  Interval  Cut   Fe   Sio2    S     P      Mn     Cu 
Off            Off
(m)    (m)    (%)    (m)     (m)   (%)   (%)    (%)   (%)    (%)    (%)
25.70 112.25   -    86.55   84.60 33.8% 25.83% 0.55% 0.058% 0.232% 0.041%
25.70 112.25  10%   86.55   76.55 36.4% 23.96% 0.60% 0.061% 0.226% 0.043%
25.70 112.25  20%   86.55   58.10 43.5% 18.62% 0.76% 0.067% 0.224% 0.049%
Table 2 
Summary of Results from BDH-12-12 
Fe      of    above               Assay Results
From    To    Cut  Interval  Cut   Fe   Sio2    S     P      Mn     Cu 
Off            Off
(m)    (m)    (%)    (m)     (m)   (%)   (%)    (%)   (%)    (%)    (%)
216.80 390.15  -   173.35  173.35 30.1% 26.49% 2.17% 0.074% 0.203% 0.076%
216.80 390.15 10%  173.35  153.70 33.1% 23.91% 2.37% 0.071% 0.209% 0.083%
216.80 390.15 20%  173.35   91.60 44.9% 14.32% 3.08% 0.083% 0.228% 0.104%
Table 3 
Summary of Results from BDH-12-13 
Fe      of    above               Assay Results
From    To    Cut  Interval  Cut   Fe   Sio2    S     P      Mn     Cu 
Off            Off
(m)    (m)    (%)    (m)     (m)   (%)   (%)    (%)   (%)    (%)    (%)
272.40 299.20  -    26.80  26.80 23.3% 33.98% 1.22% 0.120% 0.218% 0.049%
272.40 299.20 10%   26.80  21.75 27.5% 28.98% 1.41% 0.126% 0.235% 0.055%
272.40 299.20 20%   26.80  14.10 35.3% 21.69% 1.69% 0.135% 0.246% 0.068%
Massive magnetic mineralization has been mapped on surface along more than 3
kilometers at Bob 1, providing the explanation of the geophysical anomaly. Drill
cores of Bob 1 exhibit similar grain sizes within the magnetite mineralization
that were  previously outlined at the Orcopura, Huillque and Aurora zones some
10 kilometers SSE. Additional information showing the map location of the
current Bob 1 drill holes and the laboratory results can be found at the
Company's website at: 
A nominal sampling interval of 2.0 m is currently being carried out within the
sections of typical iron mineralization. Analyses were performed by the SGS DEL
PERU S.A.C. Laboratory in Lima Peru which is a member of the S.G.S.
International Group of Laboratories and is ISO 9001 certified. Laboratory check
analyses were performed on approximately 10% of the samples submitted while
field duplicate samples were performed on an average of 1 in 17 samples
submitted and field standard samples were performed on an average of 1 in 40
samples sent to the laboratory. The Company is satisfied with the
reproducibility of the analyses for the elements reported. All drill cores were
logged and sampled at Cuervo's logging/cutting facility in Cusco. 
The current exploration work and content of this release has been carried out
under the supervision of Mr. Velasquez Spring, P.Eng., a qualified person for
Cuervo under the definition of NI43-101. 
For further information, please contact Mr. Brian Berner, CEO and a Director of
the Company, at 416-203-3957 Ext: 201 or Mr. Tom Berner, Investor Relations, at
416-203-3957 Ext: 202. Additional information about Cuervo can be found at the
Company's website at 
The Canadian National Stock Exchange (CNSX Markets Inc.) has neither approved
nor disapproved of the contents of this press release. 
The term "iron ore" used within this document means rocks or deposits containing
compounds from which iron can be extracted. This is not meant to imply that the
contained iron can necessarily be extracted at a profit. This document also
contains "forward-looking information" within the meaning of Canadian securities
legislation. This information and these statements, referred to herein as
"forward-looking statements" are made as of the date of this news release or as
of the date of the effective date of information described in this news release,
as applicable. Forward-looking statements relate to future events or future
performance and reflect current estimates, predictions, expectations or beliefs
regarding future events and include, without limitation, statements with respect
to: (i) the amount of mineral reserves and mineral resources; (ii) expected
grades of iron mineralization; (iii) the timing of the Company's exploration
programs and results therefrom; and (iv) the status of negotiations. Any
statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates", "envisages",
"assumes", "intends", "strategy", "goals", "objectives" or variations thereof or
stating that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and may be
forward-looking statements. 
All forward-looking statements are based on the Company's current beliefs as
well as various assumptions made by and information currently available to them.
These assumptions include, without limitation: (i) the presence of and
continuity of iron mineralization at modeled grades; (ii) the capacities of
various machinery and equipment; (iii) the availability of personnel, machinery
and equipment; (iv) the availability and timing of laboratory analysis and
reporting on drill core samples; (v) weather conditions; (vi) reasonable
contingency requirements; and (vii) receipt of community and regulatory
approvals on acceptable terms. 
By their very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that estimates,
forecasts, projections and other forward-looking statements will not be achieved
or that assumptions do not reflect future experience. We caution readers not to
place undue reliance on these forward-looking statements as a number of
important factors could cause the actual outcomes to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates assumptions
and intentions expressed in such forward-looking statements. These risk factors
may be generally stated as the risk that the assumptions and estimates expressed
above do not occur, but specifically include, without limitation, risks relating
to variations in the mineral content within the material identified as mineral
reserves and mineral resources from that predicted; variations in rates of
recovery and extraction; developments in world metals and minerals markets;
risks relating to fluctuations in the Canadian dollar relative to other
currencies; increases in the estimated capital and operating costs or
unanticipated costs; difficulties attracting the necessary work force; increases
in financing costs or adverse changes to the terms of available financing, if
any; tax rates or royalties being greater than assumed; changes in mineral
exploration plans due to changes in logistical, technical or other factors,
changes in project parameters as plans continue to be refined; risks relating to
receipt of regulatory and community approvals; political risks, adverse weather
conditions; risks associated with the extreme topography of the areas in which
mineral exploration is conducted; operational and infrastructure risks; and the
additional risks described in the Company's annual financial statements and
management's discussion and analysis for the year ended March 31, 2011. The
foregoing list of factors that may affect future results is not exhaustive. 
When relying on our forward-looking statements, investors and others should
carefully consider the foregoing factors and other uncertainties and potential
events. The Company does not undertake to update any forward-looking statement,
whether written or oral, that may be made from time to time by the Company or on
behalf of the Company, except as required by law. 
247 Major Street, Toronto, ON, M5S 2L5   Canada
Tel. 416-203-3957 . Fax 416-203-4197 
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Source:  Cuervo Resources Inc. (FE - CNSX) (CRR - FWB)
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-0- Nov/13/2012 13:02 GMT
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