Cerro de Pasco Resources Receives TSXV Conditional Listing Approval
Cerro de Pasco Resources Receives TSXV Conditional Listing Approval
MONTRÉAL, QUÉBEC, CANADA — (March 4, 202 5) Cerro de Pasco Resources Inc. ( CSE: CDPR)
(OTCQB: GPPRF) (FRA: N8HP) (“CDPR” or the “ Corporation”) is pleased to announce that it has
received conditional approval from TSX Venture Exchange (“TSXV”) for the listing of its common
shares (the “Shares”) on the TSXV , subject to completion of requirements of the TSXV , including
receipt of all required documentation. Once final approval is received, the Shares will commence
trading on the TSXV and will be delisted from the Canadian Securities Exchange (the “CSE”). Upon
listing on the TSXV , it is expected that the Shares will continue to trade under the ticker symbol
“CDPR”.
Guy Goulet, CEO of the Corporation commented, “We are very pleased to reach this significant
milestone in listing our shares on the TSX Venture Exchange. This achievement reflects our
commitment to creating long -term value for our shareholders and delivering on our vision for
exponential growth. We anticipate the listing’s positive contribution to the C orporation’s
transparency and accessibility in the world markets.
The Corporation’s common shares will continue to trade on the U nited States OTCQB under the
symbol “GPPRF”, a n d on the Frankfurt Stock Exchange under the symbol “N8HP”.
Changes to Board of Directors
The Corporation is pleased to announce the appointment of Pyers Griffith as a Director.
Mr. Griffith is a seasoned Equity Capital Markets and Corporate Finance Advisory professional with
extensive experience in investment banking, private equity, and direct investment. Since 2021, he
has served as Chief Strategy Officer for the Corporation.
In the 1990s, he played a key role in pioneering equity research into Latin American bolsas, helping
to drive renewed investment in the region. He has advised on several major privatization and
concession processes in Peru and has led private equity and di rect investment initiatives with a
strong focus on resources, energy, and agriculture.
As Managing Director of the Peru Privatization Fund, he sat on the boards of several leading Peruvian
companies. His career includes senior at James Capel, Morgan Grenfell, Deutsche Bank, and HSBC,
following his early formation in London at Kokusai Securities and Citicorp Scrimgeour Vickers and
Merrill Lynch.
The appointment follows the recent retirement of Eduardo Loret de Mola de Lavalle from the Board
of Directors. Steven Zadka, Executive Chairman and Director commented: “On behalf of the Board, I
would like to thank Mr. Loret de Mola de Lavalle for his numerous contributions and perspectives
provided.”
About the El Metalurgista Concession & Technical Reconciliation(1)
The El Metalurgista concession comprises an area of 95.74 hectares (ha), of which 57 ha cover part
of the Quiulacocha Tailings Storage Facility (TSF), which contains the mineral processing tailings of
the historic Cerro de Pasco mine that operated during the twentieth century. The Quiulacocha TSF
occupies a total area of 114 ha and contains an estimated global 75 million tonnes (Mt) of tailings,
discretized into two domains, one copper-silver (Cu-Ag) and the other zinc-lead-silver (Zn-Pb-Ag).
The 2021 Technical Report(2) recommended that CDPR undertake a two-phased program designed to
better understand the El Metalurgista project’s potential, to increase the mineral resource base and
improve its classification, develop a geo-metallurgical model, and undertake additional testwork to
improve metallurgical recoveries.
In August 2024, CDPR obtained the authorization to start the Phase 1 drilling program at the
Quiulacocha TSF . This process was delayed a few years given a land access agreement obtained in
2024 with AMSAC, the peruvian government agency that is in charge of the Quiulacocha TSF as an
old mining environmental liability. The drilling program was authorized by the DGM, a peruvian
division of the Ministry of Mines, through the Resolución Directoral N° 0459 -2024-MINEM/DGM
(DGM, 2024).
During September and October 2024, CDPR completed the 40 -drillhole program for the Phase 1 on
the Quiulacocha TSF . This program comprised drillholes spaced at 100 m, reaching depths of
between 14 m and 49 m, resulting in 990 m drilled meters.
As at the close of January 2025, CDPR has disclosed assay reports for 32 of the 40 drillholes with
more analyses pending (Figure 1). It is expected that the geochemical assays and mineralogical
analyses will be finalized in Q1 2025, while the metallurgical testwork is scheduled to be completed
in Q2 2025.
Figure 1: Phase 1 Drill Locations and Status of Assay Results
T o date, the basic as say statistics show aver age mean gr ades of 1.66 oz/t (51.7 ppm) silver , 1.46%
z i n c a n d 0 . 8 9 % l e a d . A d d i t i o n a l l y , c o p p e r , g o l d , i n d i u m a n d i r o n i l l u s t r a t e b y-product grades of
0.09%, 0.073 ppm, 19.5 ppm and 28.13%, respectively (Table 1 ). Gallium, a critical mineral used in
high-performance microchips and in advanced military technologies, is also present with an average
grade of 55 g/t, reaching a maximum of 263 g/t.
Table 1: Summary Assay Statistics (updated January 31, 2025)
Ag oz/t Ag
ppm Zn% Pb% Cu% Au
ppm
Ga
ppm
In
ppm Fe %
Mean 1.66 51.7 1.46 0.89 0.09 0.073 55.0 19.5 28.13
Min 0.71 22.2 0.22 0.36 0.01 0.006 5.0 2.3 13.78
Max 4.72 146.7 4.81 3.41 0.53 0.567 263.0 55.5 39.29
Given the positive Phase 1 drilling results, CDPR has applied to undertake a Phase 2 drilling program
for the area outside the El Metalurgista concession, which is state property, to consist of the
following:
• Develop a drilling permit for the area outside the El Metalurgista concession. The time
required for the development, review, and approval of this drilling permit is estimated to be
approximately six months.
• CDPR expects that the Phase 2 drilling program would not deviate significantly from the
technical requirements of Phase 1 and has costed it accordingly.
• Geological interpretation and a MRE will be completed in-house under the supervision of an
independent QP .
Phase 2 metallurgical testwork would depend on the outcomes of work completed in Phase 1,
especially the geometallurgical study and the metallurgical testwork. At this stage, a work program
has only been planned to support the evaluation of potential re -processing of the historical
Quiulacocha tailings. Testwork will focus on reproducing Phase 1 results with Phase 2 drill samples
and confirming process design.
(1) Kirkham Geosystems (2025). Reconciliation Report: El Metalurgista Project dated February 19,
2025 with an effective date of December 31, 2024.
(2) The technical report dated March 15, 2021, with an effective date of August 31, 2020, is titled
"National Instrument 43 -101 El Metalurgista Concession - Pasco, Peru." The techinal report was
prepared for t he Corporation and can be found under the Corporation's issuer profile
at www.sedarplus.ca.
Technical Information
Mr. Alfonso Palacio Castilla, MIMMM/Chartered Engineer (CEng) and Project Superintendent for
CDPR, has reviewed and approved the scientific and technical information contained in this news
release. Mr. Palacio is a "Qualified Perso n" for the purposes of reporting in compliance with
Regulation 43-101- Standards of Disclosure for Mineral Projects.
About Cerro de Pasco Resources Inc.
Cerro de Pasco Resources is focused on the development of its principal 100% owned asset, the
El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted
over a century of operation from the Cerro de Pasco open pit mine in Central Peru. 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. The asset is one of the world’s
largest above-ground resources.
Contact Information
Cerro de Pasco Resources Inc.
Guy Goulet, CEO
Tel.: 579 476-7000
Email: [email protected]
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, “will be” , “expected” or va riations of such words and phrases or
statements that certain actions, events or results “will” occur. Forward -looking statements,
including but not limited to the Corporation’s objectives, goals or future plans, exploration results ,
potential mineralization, estimation of mineral resource, cost estimates , timing of governmental
authorizations, the expectations of the Corporation’s management regarding the timing of the
commencement of trading of its shares on the TSXV and delisting from the CSE , are based on the
Corporation’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 the
Corporation to be materially different from thos e expressed or implied by such forward -looking
statements or forward -looking information. There can be no assurance that such statements will
prove to be accurate, a s 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 Corporation will not update any fo rward-
looking statements or forward-looking information that are incorporated by reference herein, except
as required by applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news release.