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Microcap & Penny Stocks : CDCH Cerro Dorado Inc. -- Ignore unavailable to you. Want to Upgrade?

To: john who wrote (807)	9/13/1999 9:22:00 AM
From: OFW	Read Replies (1) \| Respond to of 958

SALT LAKE CITY--(BUSINESS WIRE)--Sept. 13, 1999--Cerro Dorado, Inc. (OTC BB:CDCH) is pleased to report the following interim exploration results from the Lobo Solitario (Fortuna) project in Chile, where the company's geologists have just completed a program of geological mapping, trenching and sampling. An IP geophysical survey is now underway to establish diamond drilling targets. IP Surveys Indicate Strong Probability of Gold-Copper Breccias on CDCH Property In his August 1999 report, Mr. Robert Cintis, P. Geo. / Manager, Howe Chile Ltda., (subsidiary of A.C.A. Howe International), identified an area measuring 250 by 250 meters on the southern part of the Lobo Solitario property that showed characteristics similar to the discovery zone of Medinah Mining, Inc.'s Lipangue gold-copper breccia deposit, located less than 2 km away. Recently-completed mapping work focused on the target area identified by Cinits, and confirmed the subtle surface expressions of the breccia targets in at least two areas close to and inside of the Lobo Solitario property. Field study of recently-completed IP/Resistivity surveys on the adjoining Alto de Lipangue property indicates that the Lipangue gold-copper breccia extends to a depth of over 1,200 meters and is plunging towards the Lobo Solitario property. The Lipangue breccia was discovered by Medinah Mining earlier this year; the discovery hole (L99-03) intercepted 84 meters averaging 1.72 g/t Au, 10.07 g/t Ag and 0.40% Cu. Breccia pipes often occur in clusters and it is not unreasonable to expect that additional breccia pipes will be found elsewhere on the Alto de Lipangue plateau, including the Lobo Solitario property. Cerro Dorado's field work, combined with the results of IP survey programs being conducted by Medinah Mining at Lipangue, have added to the expectation that one or more breccia-style gold-copper deposits exist near the boundary between the Lobo Solitario and Alto de Lipangue properties. Fortuna Vein Strike Length Extended -- Additional Veins Discovered on Property Mr. Eric Hanson, P. Geo., under the supervision of Mr. Gordon House, P. Geo., has completed a program of geological mapping, trenching and sampling of the property. An IP geophysical survey is now underway to establish diamond drilling targets for drilling. The current work program has been successful in finding extensions to the main Fortuna vein beyond the previously-reported 800 meter strike length. Hanson also reports the discovery of additional gold bearing veins sub-parallel to the Fortuna vein and a considerable distance from it. Samples of these new veins have been taken and were submitted for fire assay. Results to date indicate gold values from surface oxidized and weathered material that run from trace to 6.17 g/t gold. Typically in this area, surface samples show low to nil results due to extensive surface leaching and weathering. The considerably higher than expected surface sampling results are encouraging for the existence of additional ore grade gold veins running parallel and sub-parallel to the high grade Fortuna vein system, which, during a period from 1941 to 1955, produced almost 2000 tonnes of vein style mineralization grading 63.9 grams of gold per tonne, 51.2 g/t silver and 0.2% copper. IP Surveys Underway -- More News Expected Shortly An unusually heavy late spring snowstorm recently dropped a meter of snow on the Lobo Solitario property slowing the progress of the work program, particularly with regards to the IP survey, which is anticipated to produce some exciting information and drill targets. At latest report the weather has improved and things should be back on schedule for some early news. 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. --30--RYG/se* CONTACT: Cerro Dorado, Inc. Investor Relations, 801/484-2668