Cerro de Pasco Resources announces the postponement of filing its annual financial statements, MD&A for the year 2019, due to COVID-19 related-delays and provides progress update on NI -43-101 Resource Estimate
CSE:CDPR
Cerro de Pasco Resources announces the postponement of filing its
annual financial statements, MD&A for the year 2019, due to COVID-19
related-delays and provides progress update on NI -43-101 Resource
Estimate
Montreal, Québec - April 2 9, 2020 (CNW) – Cerro de Pasco Resources Inc. (“ CDPR” or the
“Corporation”) (CSE : CDPR) (OTCMKTS : GPPRF) (Frankfurt : N8HP) (“CDPR” or the ”Company”) is
postponing filing of its annual financial statements, management's discussion and analysis for the
year ended December 31, 2019 (collectively the “2019 annual documents”), due to logistics and
delays caused by the COVID -19 pandemic. CDPR is relying on exemptive relief recently granted
by Canadian securities regulatory authorities that allows it to delay the filing of its annual
documents required by National Instrument 51 -102 prior to April 30, 2020. In response to the
coronavirus disease 2019 pandemic, securities regulatory authorities in Canada have granted a
blanket exemption allowing issuers an additional 45 days to c omplete their regulatory filings.
CDPR estimates that its 2019 annual documents will be available for filing at its earliest
opportunity, which is expected to occur in mid-May 2020. Until such time as the 2019 annual
documents are filed, CDPR’s management and other insiders are subject to a trading blackout
that reflects the principles contained in section 9 of National Policy 11-207.
There have been no material business development s since the date of the last interim financial
statements, filed on November 29, 2019, a copy of which is available on SEDAR at
www.sedar.com.
On March 17th, 2020, Cerro de Pasco and Volcan Compañia Minera S.A.A. have agreed to extend
the closure date of CDPR’s acquisition of the Cerro de Pasco Mine (the “Transaction”), until June
27th, 2020. The Company’s management continues to advance towards a successful closing.
Update on NI43-101 Resource Estimate
The Company continues work on updating the Mineral Resource Estimates in its property, and
also for the Mineral Resources considered in the proposed acquisition of the Cerro de Pasco Mine
from Volcan (see press releases on March 31, 2020 and Nove mber 28, 2019). Included in the
Mineral Resource Estimate resource estimates are the following:
• Miraflores stockpile
• Pyrite stockpile
• Rumilliana stockpile
• Excelsior stockpile
• in-situ Oxides
• In-situ sulphides
The new resource estimate will be compliant with National Instrument 43 -101 – Standards of
Disclosure for Mineral Projects (“NI43-101”) and is expected to be announced during the current
fiscal quarter.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is a resource management company, with a focus on applying the latest
technology in the production of commodity metals through the treatment and reprocessing of all material
resources, dumps, tailings, mining waste etc. at Cer ro de Pasco in order to secure long -term economic
prosperity. CDPR strives to meet to the highest level of environmental, social and legal compliance. CDPR
provides extensive knowledge of Cerro de Pasco’s challenges and potential, based on first -hand
experience and a team of top experts.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward -looking information” under Canadian
securities legislation. Generally, forward -looking information can be identified by the use of forward -
looking terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”,
“could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results
“may”, “will”, “co uld”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar
expressions. Forward-looking statements, including the expectations of CDPR’s management regarding
the completion of the Transaction as well as the business and the expansion and growth of CDPR’s
operations, are based on CDPR’s estimates and are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance or achievements of CDPR to
be materially different from those expressed or implied by such forward -looking statements or forward -
looking information. Forward -looking statements are subject to business and economic factors and
uncertainties, and other factors that could cause actual results to differ materi ally from these forward -
looking statements, including the relevant assumptions and risks factors set out in CDPR’s public
documents, available on SEDAR at www.sedar.com. 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. Although CDPR believes that the assumptions and factors used in preparing the forward-
looking statements are reasonable, undue reliance should not be placed on these statements and forward-
looking information. Except where required by applicable law, CDPR disclaims any intention or obligation
to update or revise any forward-looking statement, whether as a result of new information, future events
or otherwise.
Further Information
Guy Goulet, CEO
Telephone: +1-579-476-7000
Mobile: +1-514-294-7000