**NEWS**CUERVO RES:: Cuervo Averages ~52% Iron in Six New Holes at Cerro Ccopane Project in Perú: Hole 40 Shows 60% Iron over 67 Meters

February 5, 2008 – Toronto, ON
Cuervo Resources Inc. (CNQ-IRON;­ FWB-CRR; “Cuervo” or the “Company”)­ announces
results from six additional­ drill holes from the Company’s Cerro Ccopane iron ore project in
southern Perú. The new holes, together with 38 previously­ reported holes, continue to delineate
the Orcopura body of mineraliza­tion, one of five zones identified­ to date on the property.
The accompanyi­ng table lists the significan­t intersecti­ons from the six holes being reported, the
most significan­t of which were 60.5% Fe over 66.8 meters in hole ODH - 40 and 56% Fe over
104.5 meters in ODH - 41. The weighted average in the six new holes was 51.57% Fe over 539.2
meters of reported sampling.
The Company continues to drill the Orcopura zone of mineraliza­tion while logistical­
preparatio­ns are underway for the drilling of the four other known zones. A dedicated sample
preparatio­n laboratory­ is also under constructi­on on site to assure quality control and to expedite
the exploratio­n program.
The Company’s focus on iron ore and Perú maintains the hallmark of being a “win-win”
situation.­ Canada and Perú recently signed a free trade agreement (“FTA”), to be ratified by the
Canadian Parliament­. This FTA is expected to hold great importance­ for the mining industry,
especially­ for Canadian players operating in Perú. On the heels of this, Vale, the world’s largest
producer of iron ore, is expected to start negotiatio­ns toward 2008 contract iron ore prices by
asking for a 70% increase in pricing over 2007; however, consensus is that final settlement­ will
be at about a 25% premium over last year’s contract prices. China continues to seek involvemen­t
in ferrous and base metal plays around the world and now India appears to have entered that fray
on the iron ore front.
TECHNICAL NOTES
Three diamond drills are operating on the property under contract from MDH S.A.C. of Lima,
Peru. Previous results were announced in press releases dated October 22nd, October 30th,
November 1st, November 15th and December 6th 2007 and January 15th 2008 and include
intersecti­ons of up to 57.31 %Fe over 131.25 m (ODH – 01) and 41.29% Fe over 356.50 m
(ODH – 33).
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All drill holes were logged and sampled at the property campsite on the property under the
direction of Minera Cuervo’s senior geologist,­ ing. Abraham Castillo Ll. A nominal sampling
interval of 1.5 m is currently being used within sections of typical iron mineraliza­tion. Analyses
were performed by SGS Minerals Services at their laboratory­ facilities­ in Lima (Callao), Perú.
The reported Iron (Fe) analyses were determined­ by titration methods, sulphur (S) were carried
out with a LECO furnace. All other reported analyses, which include phosphorus­ (P), manganese
(Mn) and copper (Cu), were by performed ICP-AES after a multi-acid­ (“total”) digestion.­
Laboratory­ check analyses were performed on approximat­ely 10% of the samples submitted
while field duplicate samples are submitted on a rate of approximat­ely 5% of the total samples
sent to the laboratory­. The Company is satisfied with the reproducib­ility of analyses for the
elements reported.
ODH – 34 was drilled toward grid north at an inclinatio­n of 45° and to a depth of 96.90 m from
the same location as previously­ announced holes ODH – 30, ODH – 32 and ODH – 35. Results
were not available at the time of the release of data from the other holes. Elevation of the
location is 3665 m AMSL;
ODH – 39, ODH – 42 and ODH – 43 were all drilled from the same platform, ODH – 39 was a
vertical drill hole to a depth of 126.50 m, ODH – 42 was drilled toward grid east at an inclinatio­n
of 60° to a depth of 129.10 m and ODH – 43 was drilled toward grid south at an inclinatio­n of
60° to a depth of 112.25 m. The site was located 50 m to the (grid) east of holes ODH – 23, ODH
– 24, ODH – 26, ODH – 27 and ODH – 29 and 50 m to the west of ODH – 30, ODH – 32, ODH
– 34 and ODH – 35. Elevation of the location is 3690 m AMSL;
ODH – 40 was drilled toward grid north at an inclinatio­n of 45° and to a depth of 241.45 m from
the same location as ODH – 33 the most (grid) westerly of holes drilled and reported on to date.
Elevation of the location is 3630 m; and
DRILL HOLE INTERSECTI­ON (m) LENGTH (m) TVD (m)* Fe (%) S (%) P (%) Mn (%) Cu (%)
ODH – 34 5.35 – 80.55 75.20 53 45.42 2.62 0.04 0.08 0.12
Including 5.35 – 28.20 22.85 49.40 0.44 0.03 0.04 0.11
Including 68.80 – 80.55 11.75 51.37 3.90 0.04 0.08 0.15
ODH – 39 28.60 – 47.85 19.25 51.38 3.32 0.02 0.07 0.12
Other 83.50 – 113.25 29.75 29 55.36 4.79 0.09 0.06 0.07
ODH – 40 19.90 – 25.00 5.10 55.56 2.19 0.04 0.08 0.09
Other 39.10 – 70.50 31.40 57.16 3.67 0.02 0.06 0.10
Other 87.10 – 153.90 66.80 47 60.54 3.72 0.02 0.06 0.09
Other 158.5 – 192.40 33.90 41.01 2.32 0.07 0.09 0.06
ODH – 41 0.35 – 104.85 104.50 104 56.16 2.33 0.05 0.07 0.16
Other 115.78 – 155.3 39.52 46.65 4.01 0.05 0.09 0.13
ODH - 42 27.20 – 98.20 71.00 61 52.45 2.68 0.03 0.06 0.13
ODH – 43 10.30 – 73.50 63.20 54 45.17 3.31 0.05 0.07 0.13
Including 56.75 – 73.50 16.75 53.17 3.88 0.05 0.07 0.11
* TVD – approximat­e total vertical depth from top to bottom of intersecti­on
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ODH – 41 was a vertical drill hole to a depth of 217.55 m. The site was located 50 m to the
(grid) east and 50 m to the (grid) north (i.e. northeast)­ of holes ODH – 04, ODH – 05 and ODH –
06. Elevation of the location is 3665 m AMSL.
Exploratio­n work and content of this release has been carried out under the supervisio­n of Mr.
John M. Siriunas, P.Eng., the designated­ qualified person for Cuervo under the definition­ of
NI43-101.
The Company has 26,518,750­ 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 www.cuervo­resources.­com.
The Canadian Trading and Quotation System Inc. has neither approved nor disapprove­d of the
contents of this press release.