Standard & Poor's Initiates Factual Stock Report Coverage on Cerro Grande Mining Corp.

NEW YORK--(BUSINESS WIRE)--Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on Cerro Grande Mining Corp.

Cerro Grande Mining Corporation (TS: CEG) is a minerals producing, exploration and development company with properties and activities focused in Chile. The company's Pimenton gold/copper mine is a narrow high grade gold/copper mine located in the high mountain range of Chile. Pimenton encompasses 3,121 hectares (7,708 acres).

The company declared the Pimenton mine to be in commercial production effective October 1, 2008 at the rate of 91 tons per day of production. The company expected production to move up to 150 tons per day by mid-2012 and to reach 200 tons per day by the end of calendar 2012. Currently the plant was permitted to operate at an average of 166 tons per day. Cerro has applied for permits to take the mine up to 500 tons per day. According to the company, reaching 200 tons per day will depend on the speed with which the regulators process the new permits. At the present (June 2011) rate of production, proven and probable reserves are sufficient for four years of production. In addition, Cerro was working to convert 189,000 tons of drill indicated resources as defined in the company's December 31, 2010 resources and reserve report into the proven and probable reserves and continue exploration for new gold veins at Pimenton.

Gold ounces sold in the nine-month period ended June 30, 2011 were 11,262 ounces. The company is conducting new exploration activities on its porphyry copper deposit located within the Pimenton area. In May 2011, the company reported that it had completed an additional Mobile Metal Ion (MMI) study over the known porphyry mineralization at Pimenton. Cerro also conducted a Controlled Source Audio-Magnetotelluric survey (CSAMT) with Quantec Geophysical Services.

In July 2011, the company announced the signing of a letter agreement with the owners of 65.6% of Compania Minera Cerro del Medio (CDM), the 100% owner of the Santa Cecilia Property which covers 3,251 hectares of claims in the Maricunga District of Chile. The eastern claim boundary of the Santa Cecilia Project lies adjacent to Exeter Resources' Caspiche Project claims. Under the terms of the letter agreement, Cerro has the opportunity to acquire at least 65.6% of CDM by conducting a diamond drilling campaign consisting of a minimum of 7,200 meters estimated to cost approximately US$4,000,000, of which Cerro is committed to fund 65.6% (estimated US$2,624,000) over a two-year period commencing July 1, 2011.

S&P Factual Stock Report coverage on Cerro Grande Mining Corp will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit www.cegmining.com for additional information.

About Standard & Poor's Factual Stock Reports

This Standard & Poor’s service provides factual research coverage enabling information about Cerro Grande Mining Corp and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company’s fundamentals and business prospects. Currently profiling over 500 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor’s Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor’s. Standard & Poor’s Factual Report research has no access to non-public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P’s STARS research) are eligible to obtain this coverage.

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