cerro grande mining corp (CEG) Snapshot

Cerro Grande Mining Corporation announced that the board of directors of the Corporation has adopted a shareholder protection rights plan and an Enhanced Quorum By-Law 1B Amendment effective May 9, 2013. The objective of the rights plan and Enhanced Quorum By-Law 1B Amendment is to ensure, to the extent possible, that all shareholders of the Corporation are treated equally and fairly in connection with any initiative to acquire control of the Corporation.

Cerro Grande Mining Corporation reported interim unaudited consolidated earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the company reported loss and comprehensive loss before income taxes was $1,201,000 compared with $951,000 for the same period last year. Loss and comprehensive loss for the period was $1,082,000 or $0.01 basic and diluted per share compared with $995,000 or $0.01 basic and diluted per share for the same period last year. Revenue for the three month period ended March 31, 2013 increased over the same period 2012 due to increased gold sales of 3,373 oz compared to 2,763 oz in the three month period ended March 31, 2012. For the six months, the company reported loss and comprehensive loss before income taxes was $1,072,000 compared with $909,000 for the same period last year. Loss and comprehensive loss for the period was $1,194,000 or $0.01 basic and diluted per share compared with $953,000 or $0.01 basic and diluted per share for the same period last year.

Cerro Grande Mining Corporation reported that it has received the Quantec Geoscience ORION 3D DC/IP/MT Survey Geophysical Report on the Santa Cecilia Prospect on which it holds a 65.6% option. Based on the study, Quantec recommends twenty-three DC/IP/MT anomalies for future drilling, nearly all of which are located within the previously established five MMI (mobile metal ion) gold and copper anomalies at Santa Cecilia. One of the most interesting DC/IP/MT anomalies sighted for drilling lies 1,000 meters to the south west of Exeter Resources Caspiche orebody, which is located in the Maricunga Gold/Copper belt of Chile.