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Shareholder Update

March 11, 2009

 
To Cerro Dorado Shareholders;


Senor Juan Jose Quijano Ferandez responded to our questions and concerns by e-mail .
We also discussed several of these subjects with Mr Price to get additional input.
 
As to the Joint venture partners, there are still four interested parties. There had been more potential JV parties, but some had stepped away due to the economic conditions in the world.
Senor Quijano  is concentrating most of his efforts on the leading parties who have showed the most interest by the amount of time spent on the property and their efforts at the table. The leading parties have been working with Senor Quijano for approximately 10 to 11 months.
 
 
Last month, Senor Quijano has paid out $5,000 US for rights and the hiring of a bulldozer to work the North road to the property. All total, Senor Juan Jose Quijano Ferandez has expended approximately $25,000.00 dollars US for various costs and fees for and behalf of Cerro Dorado, plus his time
 
It is our opinion the Senor Quijano is doing all that he can, to close out this JV as soon as possible.
 
Yes, this has been an arduous, slow, pains taking process, but the JV must be done in a professional manner  where all parties agree to the terms and conditions and are protected for the term of the agreement, which is in the best interest for the shareholders.
 
Also there has been a correction to the amount of Hectare's under Cerro Dorado's ownership.The amount is 2220, not 2490.
The error was caused by one claim being counted twice due to a name change. The website concerning this subject will be corrected.
 
Respectfully;
William Hoffman
Chairman of the Board
 
Please note;
The following update was issued by Senor Quijano on the Medinah Minerals website.
 
 

Dear Medinah Shareholders :

Our important project inside Chile called "Alto de Lipangue" is a very attractive project, partly because of its enormous reserve of gold. The recent increase in gold prices and the longer-term outlook for this metal as on Economic Haven, has dramatically enhanced the interest from various Joint Venture potentials.

Since the New Year, we have had numerous visits to the property and met constantly with the various principals and their professionals. We anticipate finalizing our Joint Venture participation agreement within a very short period of time.

We are also fortunate that a high voltage power line to service the communication installation on the top of the Lipangue mesa has now been constructed by various government entities and the availability of hydropower on site will reduce future exploration and development costs dramatically.

Respectively,

Juan José Quijano Fernández
President and CEO

 

 

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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