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Cerro de Pasco Resources Reports Fatality at Santander Mine

Mine Development & Operations

CSE:CDPR

Cerro de Pasco Resources Reports Fatality at Santander Mine

MONTRÉAL, CANADA — (February 1, 2022) Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCMKTS: GPPRF)

(Frankfurt: N8HP) (“CDPR” or the “Company”) regrets to announce it has been informed by its mining

contractor that a fatality has occurred in underground preparation and development activities at the

Santander Mine in Peru.

On January 31, 2022 a fatal accident claimed the life of a miner, working for the Compa ny’s mine

contractor in the South zone of the Magistral Mine. Upon knowledge of the tragic accident, all mining

activities at Santander were suspended immediately and authorities notified.

Senior operations management are onsite and a re working with both Government authorities and the

contractor to thoroughly investigate the accident.

The Company is also working closely with its contractor to ensure that the family of the deceased receives

all possible support. Additionally, counseling is being provided for our employees and workers on site.

"We are all greatly saddened by this tragic accident that resulted in the death of a miner and extend our

sincere condolences to the family, friends and colleagues," stated Guy Goulet, Cerro de Pasco Resources,

CEO. Safety has always been a top priority for the Company and we will ensure this accident is fully

investigated."

About Cerro de Pasco Resources

Cerro de Pasco Resources Inc. is a resource management company, founded in 2012 with the purpose of

developing the El Metalurgista mining concession comprising mineral tailings and stockpiles extracted

from the Cerro de Pasco open pit mine in central Peru. Our strategic strength lies in our extensive team

experience and knowledge of the opportunities and challenges in and around Cerro De Pasco. The

company is founded on clear objectives, to engender long -term economic sustainability and benefit for

the local population, from an economic, social and health point of view. 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.

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 using 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”, “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 completion

of the Transaction as well as the business and the expansion and growth of CDPR’s operations, are based

on CDPR’s e stimates 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, such as Covid-19, that could cause actual results to differ materially from these forward-

looking stat ements, 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

[email protected]