CuOro Resources Announces Amendments to the Transaction With Pacific Road

CuOro Resources Corp. (TSX VENTURE:CUA) ("CuOro" or the "Company") announces
that it has entered into an agreement (the "Amending Agreement") with Pacific
Road Resources Fund II and Pacific Road Resources Fund II L.P. (together with
Pacific Road Resources Fund II, "Pacific Road"), to amend the timing of the
Phase 1 Option under the transaction agreement dated May 28, 2012 (the
"Transaction Agreement") and previously announced on May 28, 2012.


Under the Transaction Agreement, Pacific Road was required to acquire a minimum
of 2,000,000 common shares of the Company through market purchases within 120
days of the date of shareholder approval of the Transaction Agreement. The
Company announced that it obtained shareholder approval of the Transaction
Agreement on June 25, 2012. Under the Amending Agreement, Pacific Road is now
required to acquire a minimum of 2,000,000 common shares of the Company through
market purchases within 15 Business Days from the date the Company completes and
delivers to Pacific Road the "New Drilling Report".


The "New Drilling Report" will be produced once the Company has completed an
airborne survey of the Santa Elena Project defined new priority drilling targets
for the Project, in cooperation with Pacific Road, based on the results of the
airborne survey and other geological data; completed drilling on the new
priority drilling targets; publicly disclosed the assay results from said
drilling, and delivered to Pacific Road such assay results together with all
supporting documentation and analysis, no later than six months after the date
of the Amending Agreement.


Also, under the Transaction Agreement, the trigger for Pacific Road exercising
the Phase 1 Option was the date Pacific Road provides written notice to the
Company of Pacific Road having acquired a minimum of 2,000,000 common shares of
the Company through market purchases. Under the Amending Agreement, the new
trigger for Pacific Road exercising the Phase 1 Option is the date the Company
completes and delivers to Pacific Road the New Drilling Report.


CuOro Resources President & CEO, Robert Sedgemore stated, "We are pleased to
continue to have Pacific Road as partner and look forward to working together to
determine the best next steps for the development of the Santa Elena exploration
program. After careful examination of the current exploration work we have
determined that an airborne survey of the entire property would help identify
and define new drill targets."


The Amending Agreement will not prevent Pacific Road from continuing to acquire
Common Shares through market purchases, up to a maximum of 3,000,000 common
shares of the Company (including the common shares owned by Pacific Road as at
the date of the Amending Agreement), as permitted under the Transaction
Agreement. As of the date of the Amending Agreement, Pacific Road had acquired
1,900,000 common shares of the Company.


The Phase 1 option to purchase units of the Company (the "P1 Units") provides
for an investment in the Company by Pacific Road between $5.0 and $7.5 million
at a price of $2.00 per P1 Unit, subject to the pricing rules of the TSXV. Each
P1 Unit shall consist of one common share and one-half of a common share
purchase warrant of the Company. Each whole warrant shall be exercisable for one
common share at a price of $2.50 for a period of two years from the date of
issue, but will not be exercisable until 65 days after the issue of the P1
Units. 


The Phase 2 option to purchase units of the Company (the "P2 Units") provides
for an investment in the Company by Pacific Road of up to $40.0 million at a
price per P2 Unit equal to the 20-day volume-weighted average price of the
Company's common shares at the time the second option is exercised, subject to
the pricing rules of the TSXV. The second option may be exercised at any time
within 45 days of the earlier of the Company completing and delivering to
Pacific Road a Resource Statement and Preliminary Economic Assessment or a
Pre-Feasibility Study. Each P2 Unit shall consist of one common share and
one-half of a common share purchase warrant of the Company. Each whole warrant
shall be exercisable for one common share at a price equal to 125% of the P2
Unit purchase price for a period of two years from the date of issue. 


The final number of units to be issued under each option, if exercised, and the
price and expiry dates of the securities to be issued under each option will be
announced at the time such option is exercised by Pacific Road. Assuming that
all contemplated purchases of securities in the market and exercise of options
to purchase units of the Corporation are made by Pacific Road, it is expected
that Pacific Road will ultimately become a control person in the Company within
the meaning of the TSXV rules and applicable securities laws. The shareholders
of the Company approved Pacific Road becoming a control person on June 25, 2012.



Copies of the Transaction Agreement and the Amending Agreement are available
under the Company's profile on SEDAR at www.sedar.com.


About CuOro Resources Corp. 

CuOro Resources (TSX VENTURE:CUA) is a Canadian publicly-listed exploration
company with two projects in Colombia. The Company's flagship Santa Elena Copper
project, located in Antioquia hosts potential high-grade near surface VMS
deposits. The Company is managed by an experienced and technical team residing
in Medellin, Colombia and is well capitalized. The long-term growth strategy is
to continue identifying and acquiring new assets in South America with a focus
on copper and gold, with the commitment to upholding the highest environmental
and social standards.


About Pacific Road Entities 

The Pacific Road Entities are private equity funds investing in the global
mining industry. They provide expansion and buyout capital for mining projects,
mining related infrastructure and mining services businesses located throughout
resource-rich regions of the world. The Pacific Road Entities are managed or
advised by Pacific Road Capital Management Pty Ltd ("PRCM"). The PRCM team,
located in Sydney, Australia, San Francisco and New York, USA, is comprised of
experienced mining investment professionals that have extensive knowledge and
experience in the mining and infrastructure sectors, including considerable
operating, project development, transactional and investment banking experience.
For further information on the Pacific Road Entities and PRCM, please go to
their website at www.pacroad.com.au.


On Behalf of the Board of Directors of CuOro,

Robert Sedgemore, President & CEO

Forward Looking Statement 

Statements contained in this news release that are not historical facts
constitute "forward-looking statements" or "forward-looking information" within
the meaning of applicable securities laws and are based on expectations,
estimates and projections as of the date of this release. Forward-looking
statements include, without limitation, the Company's expected completion of the
New Drilling Report, the anticipated exercise of the options by Pacific Road and
the success of ongoing exploration activities. The words "is expected" or
"estimates" or variations of such words and phrases or statements that certain
actions, events or results "may" or "could" occur and similar expressions
identify forward-looking statements. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while considered
reasonable by the Company as of the date of such statements, are inherently
subject to significant business, economic and competitive uncertainties and
contingencies. The estimates and assumptions of the Company contained in this
release which may prove to be incorrect, include, but are not limited to the
balance of the terms and conditions of the Transaction Agreement, as amended by
the Amending Agreement (collectively, the "Agreement"), being met by each of the
Company and Pacific Road, Pacific Road completing all of the investments
contemplated under the terms of the Agreement and the TSXV approving the
contemplated private placements of the units. 


Known and unknown factors could cause actual results to differ materially from
those projected in the forward-looking statements. Such factors include, but are
not limited to: the Company and/or Pacific Road failing to fulfill the terms and
conditions of the Agreement, fluctuations in the spot and forward price of gold
or certain other commodities; changes in national and local government
legislation, taxation, controls, regulations and political or economic
developments in Canada, Colombia or other countries in which the Company does
business or may carry on business in the future; business opportunities that may
be presented to, or pursued by, the Company; operating or technical difficulties
in connection with mining activities; the speculative nature of gold exploration
and development, including the risks of obtaining necessary licenses and
permits; diminishing quantities or grades of reserves; and contests over title
to properties, particularly title to undeveloped properties. In addition, there
are risks and hazards associated with the business of gold exploration,
development and mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion
losses (and the risk of inadequate insurance, or the inability to obtain
insurance, to cover these risks). There can be no assurance that forward-looking
statements will prove to be accurate. Forward-looking statements are provided
for the purpose of providing information about management's expectations and
plans relating to the future. All of the forward-looking statements made in this
release are qualified by these cautionary statements and those made in our other
filings with the securities regulators in Canada. These factors are not intended
to represent a complete list of the factors that could affect the Company.
Readers are cautioned not to place undue reliance on forward-looking
information.