Cerro de Pasco Resources Provides Operational Review, Project Progress and Corporate Update
PRESS RELEASE
Cerro de Pasco Resources Provides Operational Review,
Project Progress and Corporate Update
MONTREAL, QUÉBEC, CANADA, January 9 , 2026 Cerro de Pasco Resources Inc. (TSXV CDPR)
(OTCQB GPPRF) (FRA N8HP) (the Company or CDPR) is pleased to provide an operational review
and corporate update highlighting key workstreams completed and consolidated at the
Quiulacocha Tailings Project, as the Company transitions toward the next stage of project
execution.
This update builds on the technical and permitting progress outlined in the Company’s December
10, 2025 news release and reflects the completion and integration of several core Phase 1
programs.
Project Positioning Update
Over the course of 2025, the Company completed and consolidated the principal technical,
environmental and regulatory workstreams required to materially advance the readiness of the
Quiulacocha Project. Collectively, this work has reduced execution risk within the El Metalurgista
concession, strengthened the permitting foundation, and established a well-defined pathway for
advancing a comprehensive tailings reprocessing and environmental remediation solution.
Technical Readiness Established
The Company completed integrated Phase 1 technical programs encompassing mineralogy,
metallurgy, rheology, geotechnical and hydrogeological studies, subsidence assessment, and
validation of drill spacing and resource modelling methodologies. Multi laboratory metallurgical
characterization programs were completed and advanced, providing a defined technical basis for
scale up testing, flowsheet optimization and downstream engineering trade off evaluations.
Logistics and Infrastructure Evaluated
During 2025, the Company completed preliminary logistics and transportation studies evaluating
concentrate handling, storage, and regional transport alternatives, including road, rail and
pipeline-based options. This work has informed downstream engineering trade off studies and
continues to be refined as part of the overall project execution planning framework.
Environmental and Baseline Framework Completed
Environmental-geochemical baseline programs were completed across both wet and dry
seasons, with sampling conducted at more than sixty locations. Preliminary geotechnical and
hydrogeological studies were finalized, enabling stability modelling, risk assessment and the
design of the Phase 2 drilling program.
Permitting and Site Control Progressed
During 2025, the Company closed the Declaración de Impacto Ambiental related to the Phase 1
drilling program and submitted a Declaración de Impacto Ambiental for Phase 2 drilling activities
to be conducted within the existing easement area of the El Metalurgista concession. In parallel,
a surface use agreement was executed with the Community of Quiulacocha, securing continuity
of access for ongoing and future technical activities.
The Company also completed and consolidated the technical, regulatory and stakeholder
groundwork required to support the Tailings Reprocessing Application. This work brings the
project to a late stage of readiness, supporting near term advancement toward a comprehensive
tailings reprocessing and environmental remediation solution encompassing the broader
Quiulacocha tailings footprint and representing a decisive step toward formalizing the
Company’s position with respect to the historic tailings surrounding the El Metalurgista
concession.
Completion of Phase 1 Bulk Sampling Program
From December 16 to 19, 2025, CDPR successfully completed Phase 1 bulk sampling at the
Quiulacocha tailings facility. Shallow excavation was carried out to obtain fresh and
representative tailings material.
Approximately 12.3 tonnes of raw bulk material were collected, packaged and transported to
Lima under frozen conditions. The material will be submitted for laboratory chemical analysis
and metallurgical testing to support ongoing technical evaluation, flow sheet development and
future scale up studies.
The bulk sampling program represents an important step in validating metallurgical performance
under representative conditions and supporting subsequent phases of technical development.
Visual documentation of the Phase 1 bulk sampling campaign is available through the Company’s
official social media channels, including short videos illustrating field activities conducted during
the December 2025 program.
Supplemental Visual References:
Facebook Video: See Company Facebook page
LinkedIn Post: See Company LinkedIn Page
X post: See Company X account
Corporate Update
The Company announces that it has granted an aggregate of 10,600,000 stock options to
directors, officers, employees and consultants in accordance with its Stock Option Plan. The
options are exercisable at a price of CAD 0.68 per common share for periods of two or five years
from December 16, 2025.
Options granted to consultants vest over a twelve-month. The option grants are intended to align
long-term incentives with shareholder interests as the Company advances into the next stage of
project development.
Consulting Agreement
On November 17, 2025, the Company entered into a consultancy agreement with 1473632 BC
Ltd., an independent arm’s length Vancouver based consulting firm, for the provision of strategic
advisory and business development services.
Pursuant to the agreement, the consultant is entitled to fees of CAD 25,000 per quarter for an
initial term of one year, representing total consideration of CAD 100,000. Following the expiry of
the initial term, the agreement may be continued on a month- to-month basis subject to mutual
written agreement by both parties.
Technical Information
Mr. Alfonso Palacio Castilla, MIMMM/Chartered Engineer (CEng) and Senior Project Manager for
CDPR, has reviewed and approved the scientific and technical information contained in this news
release. Mr. Palacio 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 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
T elephone: +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”, “estima tes” , “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 the expectations of CDPR’s management regarding the advancement, timing, scope
and completion of the Phase 1 and Phase 2 work programs at the Quiulacocha Tailings
Reprocessing Project; the anticipated timing, content and results of metallurgical, mineralogical,
environmental, hydrogeological and geotechnical test work and studies; the expected timing for
completion of the integrated metallurgical program, hydrogeological and geotechnical models,
and other technical datasets required for feasibility -level engineering and mine planning; the
preparation, timing and potential results of the first Mineral Resource Estimate for the
Quiulacocha tailings; and the expected benefits of tailings reprocessing; the timing, outcome and
impact of permitting and regulatory processes, including the formalization of tailings reprocessing
rights beyond the El Metalurgista concession, 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 p ublic 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 disclaims any intenti on 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.