Cerro de Pasco Resources is Granted Additional Strategic Concessions Adjacent to its Santander Mine and Announces Warrant Extension
Cerro de Pasco Resources is Granted Additional Strategic
Concessions Adjacent to its Santander Mine and Announces
Warrant Extension
MONTRÉAL, QUÉBEC, CANADA — (January 18, 2023) Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK:
GPPRF) (Frankfurt: N8HP) (“CDPR,” or the “Company”) is pleased to report that it has been granted by
INGEMMET three additional mining concessions adjacent to its Santander Mine. The new concessions
cover an additional 2,094.103 ha (Fig.1)
The new concessions, along with Magistral and Santander Pipe deposit, form part of the fertile regional
area of mineralization that hosts numerous distal Zn -Pb carbonate replacement deposits (Porphyry and
Skarn Mineral Deposit Belt) (Fig.2).
The Company considers that the new areas offer significant exploration potential in view of walk over
surveys already undertaken and structural interpretation of Sentinel-2 imagery for the Santander District.
Moreover, the combined concession is strategically located within the district of rich concessions including
Romina, Puagjanca, Alpamarca and Huaron (Fig.3 and Fig. 4).
Guy G oulet, CEO of CDPR commented: “ We identified the opportunity to acquire these attractive
concessions and view them as strategic for the further development of our Santander mining unit. To date
the Company has identified 15 exploration targets and we are very positive about the new opportunities
these new concessions bring up”.
The Company plans to negotiate land usage agreements for the new areas during 2023 and will undertake
a mapping and sampling program for the first phase of exploration.
Warrant Extension
The Company proposes to amend the expiry date (the “Extension”) of 4,283,277 outstanding share
purchase warrants (the "Warrants") that were issued pursuant to non-brokered private placements closed
between April 8, 2021 and May 27, 2021. Eac h Warrant currently entitles the holder to purchase one
common share in the capital of the Company at a price of $0.50 per share for a period of two years (the
“Expiry Date”). None of the Warrants have been exercised to date. The Expiry Date of the Warrant s will
be extended to May 27, 2024. All other terms of the Warrants will remain the same.
Technical Information
Mr. Jorge Lozano, MMSAQP and Chief Operating Officer for CDPR, has reviewed and approved the
scientific and technical information contained in this news release. Mr. Lozano is a Qualified Person for
the purposes of reporting in compliance with NI 43-101.
About Cerro de Pasco Resources
Cerro de Pasco Resources Inc. is a mining and resource management company with unparalleled
knowledge of the mineral endowment in the city of Cerro de Pasco and its surroundings. Initially, the
Company will unlock the useful life of the mine and extend the concession areas in its Santander mining
operation, applying the highest safety, environmental, social and governance standards. The key focus of
the growth for the Company is on the development of the El Metalurgista mining concession, one of the
world's largest surface mineralized resources, applying the latest techniques and inno vative solutions to
process tailings, extract metals and convert the remaining waste into green hydrogen and derivatives.
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", "expect s", "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 development 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 related 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 forward-looking information. The Company will not update
any forward-looking statements or forward -looking information included herein, except as required by
applicable securities laws.
Fig 1. New concessions granted by INGEMMET to Cerro de Pasco Resources, December 2022.
Claim Code INGEMMET resolution Requested area (ha) Efective area (ha)
BLOQUE 2 010077822 003898-2022-INGEMMET/PE/PM 1,000.00 753.18
BLOQUE 3 010077722 004093-2022-INGEMMET/PE/PM 1,000.00 626.68
BLOQUE 4 010077622 003897-2022-INGEMMET/PE/PM 1,000.00 714.24
Total Area (ha) 3,000.00 2,094.10
Fig.2. Metallogenic belts of Peru, Porphyry and Skarn Mineral Deposit
Fig.3. Geo-Economic environment, Regional Context.
Legend
Magistral Mine (CDPR)
Projects UM. Santander (CDPR)
Neighboring Mines and Projects (other Companies)
Mines and Projects in Region (other Companies)
Fig.4. Geo-Economic environment, Local Context
Legend
Magistral Mine (CDPR)
Projects UM. Santander (CDPR)
Exploration targets (CDPR)