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CUA

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Share Name Share Symbol Market Type
TSXV:CUA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

CuOro Resources Announces Changes and Additions to Management and Board of Directors

26/10/2012 4:11pm

Marketwired Canada


CuOro Resources Corp. (TSX VENTURE:CUA)(FRANKFURT:6BC)(OTCQX:CRUOF) ("CuOro" or
the "Company") announces that Director John Seaman has been appointed interim
President & CEO, that Iain Kelso has been promoted to VP Exploration, and that
Mr. Pablo Orsolani has been retained to serve as General Manager in Colombia.
The Board has accepted Mr. Sedgemore's resignation as President & CEO and
Director of the Company, and has begun a search for a full time replacement.


John Seaman, commented, "The Board wishes to thank Mr. Sedgemore for his service
as President & CEO and we wish Robert the best in his future endeavors." 


Mr. Iain Kelso, P.Geo has been appointed VP of Exploration. Mr. Kelso has over
10 years of experience in the mineral exploration industry with extensive
experience in mineral resource estimation, NI 43-101 reporting, and management
of exploration programs involving a variety of commodities and projects in North
and South America, Africa and Central Asia. Mr. Kelso is a Qualified Person
under the terms defined by NI 43-101 and has been living in Colombia for the
past 4 years. Mr. Kelso has been working for the Company as senior project
geologist overseeing the Santa Elena exploration program since July, 2012. 


In addition, the Company has strengthened its Colombian operating team through
the appointment of Mr. Pablo Orsolani as General Manager of the Company's
subsidiary in Colombia. Mr. Orsolani has 30 years of experience in international
business and is fluent in English and Spanish. Most recently, Mr. Orsolani was
COO of Atlantis Gold and President of its Colombian operations, successfully
merging the company with LSE listed Touchstone Gold. Previously, Mr. Orsolani
was CFO and Director of Galway Resources, and prior to that Mr. Orsolani was
involved with sale of a Jordex Resources asset to Anglo American for $65M. Mr.
Orsolani has a strong expertise in the restructuring and the optimization of
businesses to unlock and create value. Mr. Orsolani holds a Mechanical
Engineering degree from Universidad Simon Bolivar, Caracas, Venezuela; he also
holds two masters' degrees from Massachusetts Institute of Technology (MIT), an
MBA from the Sloan School and a Master of Science in Mechanical Engineering. 


John Seaman commented, "The Board welcomes these two strong executives to our
management team. Mr. Kelso and Mr. Orsolani bring a wealth of knowledge and
experience to CuOro and their experience will be extremely valuable to the
Company as it moves forward with its exploration plans." 


About CuOro Resources Corp. 

CuOro Resources (TSX VENTURE:CUA) is a Canadian publicly-listed exploration
company focused on its flagship Santa Elena Copper project, located in
Antioquia, Colombia. Santa Elena hosts a 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. 


On Behalf of the Board of Directors of CuOro,

John Seaman, 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.        


FOR FURTHER INFORMATION PLEASE CONTACT: 
CuOro Resources Corp.
John Seaman
CEO
807-474-9898
jseaman@cuororesources.com


CuOro Resources Corp.
Paul Harris
Corporate Development & Investor Relations Manager
+57 321 720 1537
pharris@cuororesources.com

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