Cortez Gold Corp.: Construction Underway on Gold-Silver Processing Plant

VANCOUVER, BRITISH COLUMBIA--(Marketwire -06/15/12)- Cortez Gold Corp. (CUT.V) ("Cortez" or the "Company") is pleased to report that it has commenced construction to complete the gold-silver processing plant situated in Matehuala, Mexico. The Company recently closed the transaction to acquire 100% of the issued and outstanding shares of Altiplano Goldsilver S.A. de C.V. of Mexico ("Altiplano Goldsilver") by issuing 6,000,000 shares of Cortez to the shareholders of Altiplano Goldsilver with a commitment to spend US$1.3 million to develop and complete construction of the processing plant.

Altiplano Goldsilver holds the title to 20 hectares of land in Matehuala where the processing plant is situated. Designed to process lead and copper concentrates with high content of gold and silver, Altiplano's plant will offer a lower processing charge to the numerous small miners in the surrounding area as well as the medium size producers whose only current option is to sell their concentrates to smelters at a high processing cost.

ON BEHALF OF THE BOARD of Cortez Gold Corp.

President & Chief Executive Officer

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