Cerro Resources NL: Final TSX Venture Exchange Acceptance of Namiquipa Acquisition and Filing of Technical Report

LONGUEUIL, QUEBEC -- (Marketwire) -- 03/17/11 -- Cerro Resources NL (ASX: CJO)(TSX VENTURE: CJO) ('Cerro' or 'the Company') is pleased to announce that it has received final acceptance from the TSX Venture Exchange for the acquisition of Minera Tasmania S.A. de C.V., the owner of the Namiquipa Silver Project, and now a wholly-owned subsidiary of Cerro.

The Company has filed a technical report relating to the Namiquipa Silver Project prepared in accordance with National Instrument 43-101 on SEDAR. The report, entitled 'Technical Report on the Namiquipa Silver Property, Chihuahua State, Mexico for Cerro Resources NL', dated March 7, 2011 and prepared by Adrian Fleming RPGeo of RockWorks Limited, is available under the Company's profile at www.sedar.com.

For additional information about the transaction and the Namiquipa Silver Project, see the Company's news releases issued on December 13, 2010, March 10, 2011 and March 11, 2011.

About Cerro Resources

Cerro Resources is a precious and base metals exploration and development company. The Company is currently focused on developing the Cerro del Gallo gold/silver project in the central state of Guanajuato, Mexico and maintains an active working focus on the Mt Isa exploration project, Queensland, Australia.

Additional information about the Company is available on the Company's website at www.cerroresources.com and on SEDAR.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Tony McDonald, Managing Director

Craig McPherson, Chief Financial Officer

61 7 3252 0122


For North America, please contact:

Ms. Gerri Paxton, Manager Investor Relations

1-514-544-2696
gpaxton@cerroresources.com