Cerro Dorado Announces $500,000 Financing Completed.

Business Editors

SALT LAKE CITY--(BUSINESS WIRE)--July 14, 2000

The Board of Directors is pleased to announce the completion of a private placement of 8% series "A" senior subordinated convertible redeemable debentures in the amount of $500,000, maturing on June 29, 2002.

The agents responsible for the private placement were Capstone Partners of Atlanta, Georgia.

The proceeds from the placement will be utilized in the development of Cerro's mining properties in Chile, (the Lobo Solitario claims adjacent to Medinah Mining's Alto de Lipangue discovery), and the Grub claims, (Barkerville, Gold Camp, adjacent to International Wayside Resources, British Columbia, Canada).

On behalf of the Board of Directors

Per: Richard W. Cahoon, President

Note: This News Release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Cerro Dorado, Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from those anticipate in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities.