Cerro de Pasco Resources Secures Access Agreement Over Entire Quiulacocha Tailings Area, Enabling Next Phase of Project Development
PRESS RELEASE
Cerro de Pasco Resources Secures Access Agreement Over Entire
Quiulacocha Tailings Area, Enabling Next Phase of Project Development
MONTREAL, QC, March 26, 2026 – Cerro de Pasco Resources Inc. (TSXV: CDPR | OTCQB: GPPRF | FRA:
N8HP) (“CDPR” or the “Company”) is pleased to announce that it has entered into an access and
investigation agreement with Activos Mineros S.A.C. (“AMSAC”), granting the Company surface access
to the entire Quiulacocha Tailings Storage Facility, including areas located outside of CDPR’s
El Metalurgista concession.
This agreement represents a major milestone for the Company and marks the transition into the next phase
of development of the Quiulacocha Tailings Reprocessing Project.
Unlocking Full-Scale Project Advancement
The strategic collaboration with AMSAC, a Peruvian state-owned entity responsible for the remediation of
legacy mining environmental liabilities, reflects a significant evolution in the project’s development
pathway, providing CDPR with coordinated access across the full tailings footprint and enabling a
comprehensive development approach.
Importantly, this agreement relates to surface access, operational coordination and drilling activities ,
complementing CDPR’s existing concession rights over a significant portion of the tailings area.
Under the agreement, CDPR is authorized to execute a broad technical program, including:
Resource and definition drilling
Geotechnical and hydrogeological drilling
Surface and subsurface geophysical surveys
Environmental baseline studies and monitoring programs
Installation of instrumentation and data collection systems
Access to historical technical and environmental datasets
These workstreams will form the foundation for a future mineral resource estimate, feasibility studies, and
the preparation of a comprehensive Environmental Impact Assessment (EIA) for the development of the
Quiulacocha Tailings Reprocessing Project.
The Company expects to commence drilling activities in the coming months, with initial programs targeted
for mid-2026, subject to standard permitting and operational planning. For this purpose, in addition to the
permits that the Company has already obtained, a new reprocessing application will be filed by the
Company before the mining agency to secure a sectorial authorization to start the preparation of the EIA.
A Strategic Shift to a Collaborative Framework
This agreement further reflects a meaningful evolution in the project’s development pathway.
In 2024, access to a limited portion of the area was obtained through a government-imposed easement for
a two-year term. In contrast, this agreement establishes a collaborative framework with AMSAC across
the entire tailings area, aligning both parties toward advancing a coordinated technical and environmental
solution for Quiulacocha.
A More Direct Path to Project Advancement
The Company believes that the agreement with AMSAC provides a more direct and practical path forward,
allowing CDPR to immediately advance the technical work required for project development while
continuing to work constructively with relevant authorities. This approach enables the Company to
progress key milestones without delay, including drilling, resource definition, feasibility studies, and
environmental permitting (i.e. EIA).
Management Commentary
Guy Goulet, CEO of Cerro de Pasco Resources, commented:
“This is a major milestone for the Quiulacocha Project and one that our shareholders have been waiting for.
Securing access over the entire tailings area allows us to move decisively into execution, advancing drilling,
technical studies, and the work required to bring this project through permitting.
This agreement establishes the operational and collaborative framework required to advance toward a
long-term development solution for the Quiulacocha tailings. Just as importantly, it reflects a constructive
and collaborative relationship with AMSAC, which we believe will be critical as the project progresses.”
An Investment toward Project Advancement
The agreement provides for a total consideration of approximately PEN 7.2 million (approximately US$
2.1 million) over its initial term, reflecting a structured and negotiated commercial framework for access
to the whole area of the Quiulacocha Project, not only “El Metalurgista” mining concession.
The agreement also provides flexibility for extension, supporting the continued advancement of project
development activities as the Company progresses through its technical and permitting milestones.
This investment enables CDPR to deploy capital efficiently toward critical technical programs required to
advance the project toward feasibility and permitting.
Positioned for the Next Phase
While additional permitting and regulatory steps remain, this agreement provides the essential access
required to advance the Quiulacocha Project through its next stages.
The Company views this milestone as a key step in unlocking the full scale and potential of the project,
enabling the generation of the technical data required to support long-term development.
The Company believes this agreement lays the groundwork for a broader, long-term solution for the
development and remediation of the Quiulacocha tailings.
About Cerro de Pasco Resources Inc.
Cerro de Pasco Resources Inc. is focused on the development of its principal 100%-owned asset, the El
Metalurgista mining concession, which includes the Quiulacocha tailings in central Peru. The Company’s
approach integrates metals recovery with environmental remediation, targeting the reprocessing of one of
the largest above-ground resources in the region.
For more information, please visit www.pascoresources.com.
Further Information
Guy Goulet, CEO
+1 514 294 7000
Email: [email protected]
Donna Yoshimatsu, Senior Strategic Advisor / Investor Relations
+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 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 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 disclaims 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.