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Cuervo Resources Inc. (WKN: A0MS8K)

Cuervo Resources Inc. ("Cuervo"), is a public Canadian exploration company that completed an initial public offering on May 30, 2007. The company has acquired properties prospective for iron ore in Perú through its Peruvian subsidiary Minera Cuervo S.A.C. Cuervo Resources Inc. is listed on the Canadian Trading and Quotation System Inc. (CNQ) under the symbol IRON. The company also trades on the Frankfurt exchange under the symbol CRR.

The company is evaluating highly prospective districts for iron ore. Cuervo has acquired the mineral rights to over 12,000 ha in Perú known to have occurrences of iron mineralization. Mineralization in the occurrences is massive magnetite and some hematite. Deposits of iron oxides that grade on the order of 57% Fe are considered to have good potential to produce direct-shipping material. Through its network of geologist and prospectors in Perú, Cuervo has identified several prospects which are believed to exceed that threshold.

Perú, with its vast mineral resources, is still considered to be under-explored. Perú's mining industry has consistently been the country's most important foreign exchange generator. Stabilization and economic development programs in Perú have created a foundation that is receptive to international mining investment; numerous exploration and development projects are currently underway in Perú.

Recent exploration successes in Perú have demonstrated the presence of a very favourable geological environment with an economic environment that is receptive to international mining investment in the country. The Fraser Institute survey has ranked Perú in the "Top 20" group of countries with regard to mineral potential. Perú is also a signatory developing country to the Multilateral Investment Guarantee Agency (MIGA) Convention. MIGA is a World Bank organization that facilitates and guarantees (insures) foreign investment in developing nations.

There are five metallogenic "iron" provinces in Perú; Cuervo currently has properties within three of these geologically favourable regions. Perú has significant developed iron resources including the producing Marcona Mine, located in southern Perú and developed in 1972, containing a resource of about 1.5 billion tonnes of iron ore.

Since 2004 the price for iron ore has more than doubled and early evidence points to a further increase in 2007 of over 9.5%. This has exerted significant cost pressure on China, which currently accounts for about 40% of global iron ore imports. Not willing to continue to rely on the "Big Three" (Rio Tinto Group, Cia Vale do Rio Doce and BHP Billiton) who control 75% of the export supply of iron ore, companies such as Sinosteel Corp. (China's second largest iron ore trader) have stated that they "intend to place direct investment in overseas projects by entering into partnerships with local miners".

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