Cerro de Pasco Resources Enters Project Development Funding Agreement with U.S. International Development Finance Corporation for Quiulacocha
PRESS RELEASE
Cerro de Pasco Resources Enters Project Development Funding
Agreement with U.S. International Development Finance Corporation
for Quiulacocha
Montréal, Québec – March 2, 2026 – Cerro de Pasco Resources Inc. (TSXV: CDPR) (OTCQB:
GPPRF) (BVL: CDPR) announces that it has entered into a Project Development Funding
Agreement (the “Agreement”) with the U.S. International Development Finance Corporation
(“DFC”), the development finance institution of the United States Government.
Under the Agreement, DFC will provide up to US$5 million in milestone -based project
development funding to support defined project development activities for the Quiulacocha
Tailings Reprocessing Project in Peru. In addition, the Agreement states that DFC is considering
the possibility of providing up to US$300 million in long term direct loan financing to support
construction of the Project. Any such financing would be subject to, among other things,
completion of the PD Activity, satisfactory due diligence, internal credit approvals and execution
of definitive financing documentation. There can be no assurance that any such financing will be
approved or provided.
Quiulacocha is considered one of the largest historic tailings resources globally. The Project
targets recovery of silver and base metals together with gallium and indium, strategic technology
metals essential to advanced semiconductors, energy systems and defense applications.
Pursuant to the Agreement, CDPR will carry out the defined project development activities (the
“PD Activity”), which include Sonic Drilling, Geotechnical and Hydrogeological Drilling,
completion of a Feasibility Study and Engineering program, and preparation of a comprehensive
Environmental and Social Impact Assessment (“ESIA”), as further described in the PD
Implementation Plan. DFC’s funding will support defined components of the PD Activity, with
CDPR contributing matching funds on a 1:1 basis for the applicable workstreams.
This support from DFC marks a significant milestone in advancing the long -term potential of a
world class multi metal and environmental remediation project and establishes a structured
framework for the PD Activity. The Agreement also creates a defined framework under which DFC
may consider potential future support beyond the development stage.
.
Steven Zadka, Executive Chairman of CDPR, stated:
“This marks a pivotal moment for our Company and for the Quiulacocha Project. Few
development stage mining projects rarely receive direct support from the U.S. Government
through a structured project development facility of this scale . Quiulacocha combines
significant silver and base metals with strategic technology metals in one of Peru’s most historic
mining districts
The United States and Peru have recently strengthened cooperation around secure and
responsible mineral supply chains, and we believe Quiulacocha aligns naturally with that
evolving framework. With DFC providing development funding and evaluating potential
construction financing of up to US$300 million, the Project now advances with a clearly defined
and institutionally supported pathway. ”
The PD Facility provides for reimbursable disbursements tied to defined technical deliverables.
If the Project proceeds to a qualifying financing event within the agreed term, DFC would be
entitled to reimbursement of disbursed development funds in accordance wi th the Agreement
and retains certain financing rights during that period.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is focused on the development of its one hundred percent owned
El Metalurgista mining concession in central Peru, which hosts silver rich tailings and stockpiles
accumulated over more than a century of mining. The Company’s st rategy is to reprocess and
remediate historic mining waste, unlocking value while advancing environmental remediation
and sustainable development.
For more information, please visit www.pascoresources.com.
Further Information
Guy Goulet, CEO
Telephone: +1 579 476 7000
Mobile: +1 514 294 7000
Email: [email protected]
Donna Yoshimatsu, Senior Strategic Advisor / Investor Relations
Mobile: +1 416-722-2456
Forward Looking Statements
Certain information contained herein may constitute “forward -looking information” under Canadian
securities legislation. Generally, forward -looking information can be identified using forward -looking
terminology such as “plans” , “seeks” , “expects” , “estimates” , “intends” , “anticipates” , “believes” , “could” ,
“might” , “likely” , “scheduled” or variations of such words or statements that certain actions, events or
results “may” , “will” , “could” , “would” , “might” , “will be taken” , “occur” , “be achieved” or other similar
expressions.
Forward-looking statements, including (i) the anticipated use of proceeds, timing, scope and completion
of the project development activities contemplated by the Project Development Funding Agreement with
the U.S. International Development Finance Corporation (“DFC”), including sonic drilling, geotechnical
and hydrogeological drilling, completion of a feasibility study and engineering program, and preparation of
an environmental and social impact assessment (“ESIA”); (ii) CDPR’s ability to satisfy applicabl e
milestones, technical deliverables and other conditions under the agreement, and the timing and amount
of any milestone-based disbursements thereunder, including CDPR’s ability to provide required matching
funding; (iii) DFC’s evaluation of, and the possibility of, providing up to US$300 million in long-term direct
loan financing for construction of the Quiulacocha Tailings Reprocessing Project (the “Project”), and any
timing, terms, conditions, due diligence, approvals or other requirements related there to; (iv) the
advancement of the Project through development, permitting, financing and construction stages; (v) the
potential for the Project to recover silver, base metals, gallium and indium, and the potential economic,
technical, environmental and remediation benefits of tailings reprocessing; and (vi) the occurrence of any
future financing event that could result in reimbursement of disbursed development funds and the
exercise of any financing-related rights by DFC, 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 materially from these forward -looking statements,
including the relevant assumptions and risk factors set out in CDPR’s public documents, available on
SEDAR+ at www.sedarplus.ca. 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 discl aims any intention or obligation to
update or revise any forward-looking statement, whether as a result of new information, future events or
otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news release.