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SHAREHOLDER UPDATE
August 21, 2006
Dear Shareholders:
Cerro Dorado, Inc. is a mining/exploration company with gold/copper/silver claims ("Lobo Solitario Project") near Santiago, Chile. We have adjacent claims to Medinah Minerals, Inc. (MDMN) on the Alto de Lipangue plateau. The relatively low elevation, close proximity to infrastructure and exceptional nature of the property, make our claims an excellent future location for large-scale gold/copper bulk mining operations.
Recent discoveries include finding of a major mineralized breccia pipe. This discovery could pale in size to the suspected gold/copper porphyry located at depth. These discoveries have recently prompted Cerro Dorado, Inc. to more then double the size of our claim blocks.
A joint venture agreement, with a consortium of major mining companies, may be concluded shortly. Cerro Dorado, Inc. will update as needed. Major mining companies have been doing work of their own on the property as of October of last year. Recent satellite photos show that their work is indeed extensive: http://cerrodorado.com/projects/
The claims themselves have a long mining history and indicate a porphyry-style mineralized system at depth, plus the recently discovered breccia pipe near the surface. Further exploration is needed to confirm this. Juan José Quijano is acting on Cerro Dorado Inc.’s behalf to complete the agreement.
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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