PRESS RELEASE
FOR IMMEDIATE RELEASE

Cuervo Resources Trading Symbol Changed to “FE”

CUERVO RESOURCES TRADING SYMBOL CHANGED TO “FE”

September 19, 2008 – Toronto, ON

Cuervo Resources Inc. (CNQ-FE; FWB-CRR; “Cuervo” or the “Company”) wishes to announce
that its trading symbol has changed to “FE” (formerly “IRON”) effective as of this date.
The Canadian Trading and Quotation System Inc. (“CNQ”) is adopting a trading symbol format
based on a root symbol of up to three characters plus extensions. Assignment of symbols will be
coordinated between Canadian stock exchanges to ensure symbols are not in use, reserved or
restricted. Symbols for all securities currently listed on CNQ are being changed to reflect the
new format. Cuervo continues to trade on the Frankfurt Stock Exchange with the trading symbol
“CRR”.

Cuervo is focused on the exploration for iron ore in Perú and currently holds a 100% interest in
over 25,000 ha of prospective mineral exploration lands in that country. The exploration work is
concentrated on the Company’s Cerro Ccopane property located 65 km south of Cuzco (600 km
southeast of Lima). The Company has 30,179,750 shares outstanding (41,856,000 fully diluted).
For further information, please contact Mr. John 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.