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SHAREHOLDER UPDATE
March 14, 2006
Dear Shareholders:
A new breccia occurrence has been mapped and sampled between the 1,300 to 1,700-meter elevations.
Salt Lake City, Utah – March 14, 2006 . . . Management of Cerro Dorado, Inc. is pleased to report encouraging results from the recently completed examination on the company’s Lobo Solitario property, Region 5 Chile.
The recent 14-day field program was designed to follow-up and budget a new Phase I, 2006 exploration program. This follow-up program was recommended in the A.C.A. Howe report by Robert Cinits P.Geo., in 1999.
The addition of new claims to the north, east and south of the original property has changed the proposed exploration program due to a better regional geological understanding of the property including the new breccia.
The new breccia is now considered to be similar to the main Gordon breccia that Medinah drilled from 1998 to 2001 on the adjacent property, about 3 kilometers to the southwest.
The addition of the new ground substantially expands the present land holdings and was added to fit with a porphyry-style geological model.
Mineralization remains open down dip to the east and south and future drilling will be directed to infill and expand the deposit in these directions. The 2006 exploration report and suggested budget will be forthcoming.
On Behalf of the Board of Directors
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 form those anticipated in such statements. Important fators that could cause actual results to differ materially from the Company's expectation 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.
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