Mr. John Seaman reports

CUORO TERMINATES OPTION AGREEMENT AT BARRANCO DE LOBO PROPERTY

Cuoro Resources Corp. has completed its initial assessment of the Barranco de Lobo project in Colombia. After review, it was concluded that the work program produced mixed results, with some positive indications of mineralization, but, over all, the results did not fully meet expectations.

The Barranco de Lobo project is held pursuant to an option agreement that calls for further cash payments of $600,000 (U.S.). The company has been in negotiations with the underlying owner, seeking an amendment of the quantum and timing of the option payments. Such negotiations have recently concluded, with the owner demanding payment of the option payments as per the initial contract or a notice of default would be issued. In light of this, management has recommended, and the board has approved, terminating the option agreement. The company will be writing off all capitalized costs.

We seek Safe Harbor.