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SHAREHOLDER UPDATE
April 5, 2006
Dear Shareholders:
We are pleased to announce that Richard W. Cahoon and William J. Hoffman have joined the Board of Directors. After serving the company well for 4 years, Richard Sjostrom has resigned as President and Director.
Richard Cahoon is a graduate of the University of Utah with a B.S. Degree and a M.S. Degree in Administration. A long time resident of Utah, Mr. Cahoon has managed several limited liability companies and various real estate investments.
William Hoffman is a retired Los Angeles County Fireman having served for 33 years, 21 of which was served in the rank of Captain. He was also a licensed real estate broker in the State of California for approximately 10 years raising private venture capital for partnerships, trusts and corporations involving a variety of enterprises including real estate, mining and agriculture.
In addition, we want to inform you that Mr. Bruce Turner has been working on behalf of Cerro Dorado shareholders. Mr. Turner is taking on a very prominent role in assisting the company to continue to move forward with funding matters, contractual negotiations, finalization of infrastructure issues, and joint venturing implementations relative to the Lobo Solitario property.
Bruce Turner has been involved in all aspects of mining, with an emphasis in the country of Chile. He graduated with an Engineering Degree from the University of British Columbia in 1974 with advanced studies at Harvard University. He began his career as a Mining Engineer with BHP-Billiton in 1976, holding various positions with BHP including the Presidency of BHP’s Escondida project in Chile’s Atacama Desert. This project, the Minera Escondida Limitada mine, is one of the largest copper producers in the world. In June 2004, Mr. Turner was awarded an Honorary Doctorate of Technology Degree (D. Technology-Hon), from the British Columbia Institute of Technology for his outstanding vision and commitment to the development of mining trades and technical training of Chilean mining workers. Mr. Turner is an exemplary individual who is well known and respected throughout the mining community.
Management has recently advised shareholders of the discovery of a breccia on our Lobo Solitario property. That discovery is located approximately 3 kilometers from a breccia on the adjoining property of Medinah Minerals, which has been the subject of extensive exploration over the past few years.
The newly appointed Directors of the company will convene to appoint officers for Cerro Dorado. Further updates are forthcoming.
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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