• First gold poured out of Las Calandrias’ Heap Leap project
• Las Calandrias is now in operation for full production, expected in Q3 2023
• MDC (Brazil) Feasibility study for final optimization stage

TORONTO, ON / ACCESSWIRE / July 10, 2023 / Cerrado Gold Inc. (TSX.V:CERT) (OTCQX:CRDOF) (“Cerrado” or “we”) is pleased to announce that it has poured the first gold from its new Heapreach gold production project in the Las Calandrias region of Argentina. Mining and stacking operations have reached their planned capacity, gold production is expected to increase steadily as the storage period for the stacked ore is reached, and the project is expected to reach design capacity during the third quarter of this year. can be reached.

Las Calandrias Heap Reaching Gold Pores

The Company also wishes to inform you that it is in the final stages of completing a feasibility study for the Serra Alta deposit at the Monte do Carmo (“MDC”) project in Tocantins, Brazil. The project team is working with consultants to finalize optimizations, design trade-offs, and mine plan sequencing, and is expected to complete feasibility soon.

CEO and Chairman Mark Brennan said, “We are very pleased to receive the first funding from the Las Calandrias project, which is a testament to the hard work and dedication of the management team. , this marks an important milestone for the Cerrado.” In Brazil, we are nearing completion of the research phase and remain confident that the MDC project will be a very strong project and will position the Cerrado for a period of rapid growth. growth. “

About Cerrado

Cerrado Gold is a Toronto-based gold production, development and exploration company focused on South American gold projects. The company owns 100% of both the production Minera Don Nicolás and Las Calandrias mines in Santa Cruz, Argentina, and the highly promising Monte do Carmo development project in Tocantins, Brazil. is a person. In Canada, Cerrado Gold is developing his wholly-owned Montsorcier Iron Ore and Vanadium Project outside Sibougamou, Quebec.

Argentina’s Cerrado is maximizing the asset value of its Minera Don Nicolás operations through continuous operational optimization and expanding production through its Las Calandrias Heap Reach project operations. A large-scale exploration campaign is underway to unearth more potential resources for the high-potential land package in the heart of Desead Massif.

Brazil’s Cerrado has increased the feasibility of the Alta Mountains deposit at its Monte do Carmo project and is rapidly developing it for production. Serra Alta is expected to be a highly profitable and highly profitable project with significant exploration potential on a vast and highly prospective land package of 82,542 hectares.

In Canada, Cerrado owns a 100% interest in the Mont Sorcier Iron Ore and Vanadium Project, which has the potential to produce premium iron ore concentrates over a long mine life with low operating costs and low capital intensity. . In addition, its high-grade, high-purity products will help steelmakers transition from blast furnaces to electric furnaces, helping to decarbonize the industry and achieve his SDG goals.

For more information on Cerrado, please visit: www.cerradogold.com.

For more information, please contact:

Mark Brennan Mike McAllister
CEO and Chairman Vice President of Investor Relations
Phone: +1-647-805-5662
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Disclaimer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDERS (AS THAT TERM IS DEFINED IN THE TSX VENTURE EXCHANGE POLICY) ARE RESPONSIBLE FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.

This press release contains statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”) and are statements of historical fact. All statements other than these are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Any statement discussing predictions, expectations, beliefs, plans, forecasts, objectives, assumptions, future events or performance (but not always, “expects” or “does not expect”, “expects”, “anticipates often use phrases like “may” or “might”, “would”, “might” or “be” or any variation of such words or phrases or to describe a particular action, event or outcome may be forward-looking statements rather than statements of historical fact.

Forward-looking statements contained in this press release include, but are not limited to, statements regarding Cerrado’s business and operations. In making forward-looking statements contained in this press release, Cerrado does not include, among other things, the time required to reach capacity at Las Calandrias, future operating costs in Argentina and the timing of feasibility. We make certain assumptions, including but not limited to: Study at Monte do Carmo. Although Cerrado believes that the expectations reflected in its forward-looking statements are reasonable, there can be no assurance that the expectations in the forward-looking statements will prove correct. known and unknown risks, uncertainties and other factors that could cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements; Such factors include, but are not limited to, general business, economic, competitive, political and social uncertainties. Readers should therefore not place undue reliance on the forward-looking statements or information contained in this press release. Except as required by law, Cerrado makes no statements to reflect actual results, whether as a result of new information, future events, changes in assumptions or changes in factors affecting the future. We disclaim any intention and assume no obligation to update or revise any forward-looking statements. Whether you are looking for statements.