Cuervo Resources Inc. | Company Profile

About the Company

Cuervo Resources Inc. ("Cuervo"), is a public Canadian exploration company that completed an initial public offering on May 30, 2007. The company has acquired and is drilling 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. (CNSX) under the symbol FE. The company also trades on the Frankfurt Exchange under the symbol CRR.

Cuervo was formed in early 2005 with the ambition of capitalizing on the then emerging strength of international iron ore markets, particularly those in the Pacific Rim. Perú was identified as a particularly attractive exploration target, principally because of its well established mining tradition and infrastructure, and its well regarded legal and banking systems. The Board of Directors provided strategic insight, drawing on their background and knowledge of iron ore markets and geology. Today, Cuervo holds an unencumbered 100% interest over 25,000 ha of iron prospective properties in Perú. These properties hold, in the opinion of management, good prospects for finding upwards of 250 million tonnes of iron mineralization and perhaps significantly more.

The current exploration focus is on the 1,500 ha Orcopura zone of the 13,000 ha Cerro Ccopane property. To date, Cuervo has reported 80 holes averaging 52.99% iron content over 5,421.41 meters of samples on the Ocupura zone. Importantly, the Orcopura zone is one of five zones identified on the Cerro Ccopane property by surface showings and geophysics. In November 2007 the company initiated metallurgical testing of core samples to determine the amenability of the material to magnetic separation of contaminants and by-products. That testing has indicated that most contaminates (sulphur and copper) can be removed, yielding an upgraded iron concentrate, grading 66% to 69%. A preliminary transportation study was also commissioned which supported the feasibility of moving iron from Cerro Ccopane to the Pacific tidewater port at Matarani.

Cuervo currently has three drills working to delineate the Ocorpura zone which will then move on to the Huillque and Aurora zones as the year progresses. Additional metallurgical testing and transportation studies will be conducted in 2008 and, if warranted, property acquisitions will be made.

Cerro Ccopane Property

The Cerro Ccopane Iron property consists of 21 contiguous mining concessions covering 13,000 ha in Cusco Departamento in southern Perú. These concessions are wholly owned by Cuervo. The Company also has an additonal 5,200 ha of concessions in the vicinity of Cerro Ccopane. The project area is located 65 km straight-line distance south of Cuzco, the capital city of the region, and 600 km straight-line distance southeast of Lima.

Physiography of the area of interest is mountainous and varies from rolling gentle to moderate relief at higher elevations on the pampa (up to 4,600 m) to tight gorges and canyons at lower elevations (3,200 m). The Company’s exploration camp at Orcopura is at an elevation of 3,850 m.

Food, accommodations, electrical power, and telephones are available relatively nearby for non-camp supported exploration activities on the Cerro Ccopane Project, though Cuzco is the main source of supplies.

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