Cerro de Pasco Resources’ subsidiary H2-SPHERE GmbH signs Contract with the German Aerospace Center to Develop Green Hydrogen Production Process using its own Tailings and Stockpiles
Cerro de Pasco Resources’ subsidiary H2-SPHERE GmbH signs
Contract with the German Aerospace Center
to Develop Green Hydrogen Production Process using its own
Tailings and Stockpiles
MONTRÉAL, QUÉBEC, CANADA — (March 2, 2022) Cerro de Pasco Resources Inc. (CSE:CDPR)
(Frankfurt: N8HP) (“CDPR,” or the “Company“) is delighted to announce that its subsidiary H2-SPHERE
GmbH, formed in December 2021 in partnership with Prof Dr. Bernhard Dold, has signed an exclusive
agreement with t he German Aerospace Centre (DLR), to jointly develop techniques for converting
mining waste into green hydrogen and other by -products. In the first stage ( 6 months), DLR will
produce an Investigation Report and in the second stage the entity will perform laboratory testing,
culminating in a template for industrial-scale production.
DLR – Global Technology Leader
DLR is the Federal Republic of Germany's r esearch center for aeronautics and space. It conducts
research and development activities in the fields of aeronautics, space, energy, transport, security and
digitalisation. DLR uses the expertise of its 55 research institutes and facilities to develop solutions.
With 10,000 employees, the entity’s stated mission is to explore Earth and space and develop
technologies for a sustainable future.
Research with H 2-SPHERE will be executed by the Institute of Future Fuels, Solar -Chemical Process
Development department, recently formed by DLR to prioritize the development of Chemical storage
systems (fuels, i.e. green hydrogen). Ongoing research priorities are highly compatible with the CDPR
mineral waste resource.
Double-green Hydrogen
Core innovation by H 2-SPHERE and DLR will include two complimentary techniques for converting
environment-contaminating mining waste to green hydrogen and other commercial by-products. The
new techniques will enable CDPR to permanently remove highly-pollutive elements in its mineral
waste resource that are the primary cause of acid mine drainage (AMD) . Thus, by achieving the twin
benefits of removing AMD and producing green hydrogen, hydrogen produced by CDPR may be
considered “double-green”.
Guy Goulet, CEO: “The Cerro de Pasco Team is very pleased to engage in this project along with DLR
and H2-SPHERE. Prof Dr. Bernhard Dold has been extremely active assisting governments in mine waste
management in South America for many years and we believe that the innovations that he and DLR
are driving could be a game-changer for our company. Green hydrogen will clearly play a major role in
addressing climate change and is likely to become the mai n fuel for the mining activity in Peru and
other places»
Industrially Scalable Resource
Up to half of CDPR’s Quiulacocha Tailings and the Excelsior Stockpile, together amounting to
approximately 180Mt, can potentially be reprocessed using the techniques now under development
under the DLR – H2-SPHERE agreement. Beyond CDPR, the Cerro de Pasco mining cluster offers various
further opportunities. These resources alone provide the opportunity to build a world -class and
sustainable clean energy enterprise.
Catch the Wave
The H 2-SPHERE initiative coincides with the imminent start of exploratory drilling at CDPR’s El
Metalurgista concession with a focus on the Quiulacocha Tailings. It also coincides with the first major
global move towards H 2, with important initiatives developing at a national level in Peru , Chile and
Colombia.
Shares and Options Grant
In connection with the above, CDPR entered into agreements with Prof Dr. Bernhard Dold and Pyers
Griffith for the grant of (i) an aggregate of 1,040,000 stock options to purchase common shares of
CDPR exercisable on or before March 2, 2027, at a price of $0.40 per common share, and (ii) an
aggregate of 646,654 common shares of CDPR subject to a 4 month hold pe riod following their
issuance in payment of services rendered.
About H2-SPHERE
CDPR is funding H 2-SPHERE GmbH which was formed in partnership with Prof Dr. Bernhard Dold in
December 2021 in Germany to develop techniques aimed at converting mineral waste into green
hydrogen and other by -products, with the joint objectives of removing the source of acid mine
drainage (AMD), engendering new economic activity in the region, and materially enhancing the
future profitability of its El Metalurgista concession and other nearby mining waste reprocessing
projects.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is a resource management company, founded in 2012 with the original
purpose of developing the El Metalurgista mining concession c omprising mineral tailings and
stockpiles extracted from the Cerro de Pasco open-pit mine in central Peru. Our strategic strength lies
in our extensive team experience and knowledge of the opportunities and challenges in and around
Cerro de Pasco. The comp any is founded on clear objectives, to engender long -term economic
sustainability and benefit for the local population, from an economic, social and health point of view.
The company’s approach at El Metalurgista entails the reprocessing and environmental remediation
of mining waste and the creation of numerous opportunities in a circular economy.
Contact Information
Cerro de Pasco Resources Inc.
Guy Goulet, President and CEO
Tel.: 579 476-7000
Email: [email protected]
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward -looking information” or “forward -
looking statements” under Canadian securities legislation. Generally, forward-looking information can
be identified by words such as "pro forma", "plans", "expects", "may", "should", "could", "will",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations
including negative variations thereof of such words and phrases that refer to certain actions, events
or results that may, occur or be taken or achieved. Such forward-looking statements, including but not
limited to statements relating to the expected deve lopment and operations of the Company and H2-
SPHERE, involve risks, uncertainties and other factors which may cause the actual results to be
materially different from those expressed or implied by such forward-looking statements or forward-
looking information. Such factors include, among others, risks rela ted to the exploration,
development and mining operations; impacts of macroeconomic developments as well as the impact
of the COVID-19 pandemic; and any material adverse effect on the business, properties and assets of
the Company or H2-SPHERE. There can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward -looking statements and for ward-
looking information. The Company will not update any forward-looking statements or forward-looking
information included herein, except as required by applicable securities laws.