Mr. Guy Goulet reports

CERRO DE PASCO RESOURCES ANNOUNCES PRIVATE PLACEMENT OFFERING OF COMMON SHARE UNITS

Cerro de Pasco Resources Inc. intends to complete a non-brokered private placement offering of up to 20 million units of the corporation at a price of 10 cents per unit for aggregate gross proceeds of up to $2-million. Each unit will comprise one common share in the capital of the corporation and half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional unit at a price of 15 cents per warrant unit until the earlier of the date which is 24 months after the closing date of the offering and, if applicable, the accelerated expiry date. Each warrant unit will consist of (i) one additional common share and (ii) one additional transferable common share purchase warrant. Each underlying warrant will entitle the holder thereof to acquire one additional common share at a price of 25 cents per underlying warrant share until the expiry date.

In the event that, during the period following 24 months from the closing date, the volume-weighted average trading price of the common shares exceeds 60 cents per common share for any period of 20 consecutive trading days, the corporation may, at its option, following such 20-day period, accelerate the expiry date of the warrants by delivery of notice to the registered holders thereof and issuing a press release.

A finder's fee might be paid on the offering, subject to the policies of the Canadian Securities Exchange.

The corporation intends to use the net proceeds from the offering toward the development of the Quiulacocha tailings and for working capital.

All securities issued in connection with the offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

About Cerro de Pasco Resources

Cerro de Pasco Resources is a mining and resource management company, with the goal to become the next mid-tier producer of base metals in Peru.

We seek Safe Harbor.