Cerro Resources Scheme of Arrangement: Date for Second Court Hearing Changed

LONGUEUIL, QUEBEC -- (Marketwired) -- 04/11/13 -- Cerro Resources NL (Cerro or Company) (ASX:CJO)(TSX VENTURE:CJO) wishes to advise that due to Court scheduling, the date for the Second Court Hearing for approval of the Schemes (as described in Cerro's announcement on March 22, 2013 and the Scheme Booklet) has been changed.

Importantly, the date, time and venue for the meetings of Cerro's shareholders and option holders remain unchanged. That is, all meetings for this matter will continue to be held on Tuesday, 30 April 2013 in the Surveyor's Room, Ground Floor, Treasury Casino (Hotel Building), 130 William Street, Brisbane Queensland, 4000, with the first meeting (being the General Meeting) commencing at 10am (Brisbane time).

The new date for the Second Court Hearing and subsequent dates, including the new Record Date, are set out in the following table.

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EVENT                                                       DATE            
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Second Court Hearing for approval of the Schemes            10.15am         
                                                            Wednesday, 8 May
                                                            2013            
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Effective Date: Schemes take effect                         Wednesday, 8 May
                                                            2013            
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Last date Cerro Shares trade on ASX with an entitlement to  Wednesday, 8 May
participate in the Share Scheme                             2013            
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Last date Cerro Shares trade on TSXV with an entitlement to Wednesday, 8 May
participate in the Share Scheme                             2013            
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Record Date: Time and date for determining entitlements     5pm (Brisbane   
under the Transaction                                       time) on        
                                                            Wednesday, 15   
                                                            May 2013        
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In-specie distribution of Santana Shares to Scheme          Tuesday, 21 May 
Shareholders                                                2013            
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Transfer of Spinout Assets to Santana                       Wednesday, 22   
                                                            May 2013        
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Transfer of Scheme Shares to Primero and issue of New       Thursday, 23 May
Primero Shares to Scheme Shareholders                       2013            
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Variation of Scheme Options                                 Thursday, 23 May
                                                            2013            
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Despatch of entitlement certificates                        Thursday, 23 May
                                                            2013            
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Issue of Subscription Shares to Primero                     Friday, 24 May  
                                                            2013            
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Admission of Santana Shares to official list of the ASX     Friday, 24 May  
                                                            2013            
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Please note, this timetable and the dates noted (including references to dates through the Scheme Booklet) are indicative only, are subject to change and among other things, are subject to all necessary approvals being obtained. Cerro may vary any of these times and dates without directly notifying Cerro Shareholders and Cerro Optionholders. Any further changes to the timetable will, however, be announced through the ASX, TSXV and notified on Cerro's website at www.cerroresources.com.

All times and dates referred to are times and dates in Brisbane, Australia, unless otherwise indicated.

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.