| Moderated By: CIMA -- (Not Moderated) -- Started: 12/23/1998 10:00:00 AM Revision History |
"Cerro Dorado" (CDCH-OTC:BB) means "Gold Hill" in Spanish, and the Company's name accurately reflects its business operations. Cerro Dorado, Inc. is a junior exploration company that is acquiring and exploring gold mining properties with major potential in Chile. The Company's goal is to develop its properties to the point that a large mining company will join Cerro Dorado as a joint venture partner in the mining operations.
Chile, because of its favorable political and economic climate, is fast becoming one of the world's leading gold mining countries. But the most obvious reason Chile is attracting the attention of mining companies from around the world is that Chile has over 25% of the world's known reserves of copper, and copper is usually associated with gold and silver.
1) Lobo Solitario:
Cerro Dorado, Inc. is pleased to announce that it has purchased 60 contiguous mining claim units known as "Lobo Solitario," a gold property of historical significance that adjoins the newly discovered gold/copper deposit at Alto de Lipangue near Santiago, Chile. Lobo Solitario has been the location of high-grade gold mining from the days of the Incas and Spaniards to, more recently, small operators like those of the Fortuna mine that supported local economies from its gold production. Gold ore grading 5 to 70 grams per tonne has consistently been produced from these operations.
2) Ipun Island:
June 23, 1999. Under the terms of the agreement, Cerro Dorado, Inc. will issue to Medinah Gold, Inc., a private corporation, 500,000 shares of Cerro, in exchange for a 60% interest in the Ipún properties, and 100,000 shares of Cerro, to Medinah Mining Inc. for reimbursement of its costs and expenses.
"Ipún Island, with a little more testing and found to be commercial, could be put into production within a short period of time and be producing a profit with the least amount of capital expense compared with other projects being reviewed."
1399 South 700 East #17,
Salt Lake City, Utah,
Web Site: www.cerrodorado.com