SALT LAKE CITY--(BUSINESS WIRE)--Nov. 29, 1999--The drilling program on the Cenizas property started on
November 15, 1999. Michael Hopley, VP Exploration for Cerro Dorado, Inc. reports that as of November 24, 1999, seven
reverse-circulation drill holes had been completed for a total of approximately 1,100 meters. Some 15 drill holes are planned
for a total of 2,500 meters.
The drilling is focused on two types of targets on the property. First, the Nueve Vidas gold zone, where broad zones of gold
mineralization are exposed in trenching; and second, widely spaced drilling looking for large porphyry systems underlying
extensive areas of the property that are covered by shallow gravels.
Visual examination of the samples from the drilling is encouraging and first assay results are expected next week.
Cerro Dorado, Inc. has an option to earn a 100% interest in the Cenizas property from Rio Tinto Mining and Exploration
Limited.
Management of Cerro Dorado, Inc. is pleased to announce that negotiations with the City of London Public Relations Limited
have been successfully concluded. The firm will be handling all of the company's European investor relations programs as well
as some of the North American programs.
On behalf of the Board of Directors
Per: Richard W. Cahoon, President
Note: This News Release may contain certain ''forward-looking statements'' within the meaning of the United States Securities
Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including,
without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives
of Cerro Dorado Inc. are forward-looking statements that involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate, and actual results and future could differ materially from those anticipate in such
statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed
under the heading ''Risk Factors'' and elsewhere in documents filed from time to time with the United States Securities and
Exchange Commission and other regulatory authorities.
Trading OTC/BB
Symbol CDCH
Cusip No. 156834
Tel: (801) 484-2668
Fax: (801) 486-3633
Contact:
Investor Relations
801/484-2668 |
