FOR IMMEDIATE RELEASE
Cuervo Reports on Findings of Preliminary Transportation Study
February 27, 2008 – Toronto, ON
Cuervo Resources Inc. (CNQ-IRON; FWB-CRR; “Cuervo” or the “Company”) is pleased to
report that the findings of a preliminary transportation study provide support to the future of any
potential development at its Cerro Ccopane iron ore project in Perú. The mandate of the study
was to assess, on a preliminary basis, the adequacy of existing port, road and rail transportation
infrastructure relevant to the site and to identify probable needs for upgrading, expansion and
new construction. Underlying the study was a prospective annual production volume of 5 million
tonnes of iron ore.
The study, entitled “Cerro Ccopane Mine Transportation Study: A Conceptual Study of
Transportation Alternatives Associated with a Potential Development of The Cerro Ccopane
Mine near Cusco Perú” was prepared by Frank Hansen Consulting of Kila, Montana under
commission by Cuervo Resources Inc. The study was initiated in response to early and
continuing success of an ongoing drilling program on the Cerro Ccopane property which is
located 65 km south of Cuzco, Perú and approximately 320 km north of the Pacific tidewater
port at Matarani.
The principal findings and recommendations for the Hansen preliminary report may be
summarized as follows:
• Truck transport is favoured over upgraded roadway from the prospective mine site to the
railhead near Cusipata, a distance of approximately 105 km. The alternative of a direct
rail connection was considered, as was a slurry pipeline, but each was deemed less
attractive, principally due to capital cost considerations;
• Overland rail carriage from Cusipata to the Pacific tidewater port at Matarani, a distance
of approximately 712 km, could be handled by with some slight modifications to the
track and roadbed. Ferrocarril Transandino S.A. (PeruRail) is the current leasor of the
tracks and right-of-way;
• The port at Matarani is an efficient and ISPS Code-compliant facility and is capable of
handling Handy Class and smaller Panamax Class vessels. With some modifications the
ship loading system could be used to load iron ore into SuperHandimax vessels.
• PeruRail has indicated its interest in developing an entire overland transport system to
facilitate the movement of iron ore to Matarani; and
• TISUR (Operator of the port) has indicated an interest, if warranted, in developing Cape
Class ship loading facilities at Matarani.
Commenting on the Hansen study, Cuervo President, John Siriunas said “While we are very
early in our exploration program at Cerro Ccopane, the availability of cost effective
transportation facilities is integral to the economics of developing iron ore properties. We are
encouraged by the preliminary findings which give us confidence in the potential to advance our
project”.
The Company has 26,543,750 shares outstanding (33,566,000 fully diluted).
For further information, please contact Mr. Siriunas, a director and President of Cuervo, at 416-
203-3957 x701 or Mr. Tom Berner, Investor Relations, at 416-203-3957 x202. Additional
information about Cuervo can be found at the Company’s website at http://www.cuervoresources.com.
The Canadian Trading and Quotation System Inc. has neither approved nor disapproved of the
contents of this press release.