Cerrado GOLD Announces First GOLD Pour at Its Las Calandrias Project IN Santa CRUZ, Argentina
July 10th, 2023 www.cerradogold.com
CERRADO GOLD ANNOUNCES FIRST GOLD POUR AT ITS LAS CALANDRIAS PROJECT IN
SANTA CRUZ, ARGENTINA
• First gold poured from the Las Calandrias heap leap project
• Las Calandrias is now ramping up to full production, expected in Q3 2023
• MDC (Brazil) Feasibility Study in the final optimization stage
TORONTO, ONTARIO - Cerrado Gold Inc. [TSX.V: CERT][OTCQX: CRDOF] ("Cerrado" or the "Company”) is pleased
to announce that it has poured its first gold from its new heap leach gold production project at the Las Calandrias
area in Argentina. Mining and stacking operations are at planned capacity , and gold production is expected to
steadily increase as the retention period for the stacked ore is reached, allowing the project to reach design capacity
during the third quarter of this year.
Las Calandrias heap leach gold pour
The Company also wishes to report it is in the final stages of completing its Feasibility Study for Serra Alta deposit at
the Monte Do Carmo (“MDC”) project in Tocantins, Brazil. Together with its consultants, the project team are
conducting final optimizations, design trade offs and sequencing of the mine plan and we expect to complete the
feasibility shortly.
Mark Brennan, CEO and Chairman commented, “We are extremely pleased to see the first gold poured from the Las
Calandrias project and this is a testament to the hard work and dedication of the operations team. In addition, this
represents a significant milestone for Cerrado as we continue to deliver on our production growth strategy in
Argentina. In Brazil, as we near the completion of the study phase, we continue to be confident that the MDC Project
will be a very robust project which should position Cerrado for a period of rapid growth.”
About Cerrado
Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects
in South America. The Company is the 100% owner of both the producing Minera Don Nicolás and Las Calandrias
mine in Santa Cruz province, Argentina, and the highly prospective Monte Do Carmo development project, located
in Tocantins State, Brazil. In Canada, Cerrado Gold is developing it’s 100% owned Mont Sorcier Iron Ore and
Vanadium project located outside of Chibougamou, Quebec.
In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational
optimization and is growing production through its operations at the Las Calandrias Heap Leach project. An extensive
campaign of exploration is ongoing to further unl ock potential resources in our highly prospective land package in
the heart of the Deseado Masiff.
In Brazil, Cerrado is rapidly advancing the Serra Alta deposit at its Monte Do Carmo Project, through feasibility and
into production. Serra Alta is expected to be a high -margin and high -return project with significant exploration
potential on an extensive and highly prospective 82,542 hectare land package.
In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron Ore and Vanadium Project, which has the potential
to produce a premium iron ore concentrate over a long mine life at low operating costs and low capital intensity.
Furthermore, its high grade and high purity product facilitates the migration of steel producers from blast furnaces
to electric arc furnaces contributing to the decarbonisation of the industry and the achievement of SDG goals.
For more information about Cerrado please visit our website at: www.cerradogold.com.
For further information, contact:
Mark Brennan Mike McAllister
CEO and Chairman Vice President, Investor Relations
Tel: +1-647-805-5662
Disclaimer
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POLICIES OF THE TSX VENTURE EXCHANG E) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking
statements”) within the meaning of the applicable Canadian securiti es legislation, all statements, other than
statements of historical fact, are forward -looking statements and are based on expectations, estimates and
projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans,
projections, objectives, assumptions, future events or performance (often but not always using phrases such as
“expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”,
“forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain
actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements regarding the
business and operations of Cer rado. In making the forward - looking statements contained in this press release,
Cerrado has made certain assumptions, including, but not limited to the time required to reach production capacity
at Las Calandrias, the fu ture operating costs in Argentina, as well the timing of the feasibility study at Monte Do
Carmo. Although Cerrado believes that the expectations reflected in forward-looking statements are reasonable, it
can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and
unknown risks, uncertainties, and other factors whi ch may cause the actual results and future events to differ
materially from those expressed or implied by such forward -looking statements. Such factors include, but are not
limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not
place undue reliance on the forward -looking statements and information contained in this press release. Except as
required by law, Cerrado disclaims any intention and assumes no obligation to update or revise any forward-looking
statements to reflect actual results, whether as a result of new information, future events, changes in assumptions,
changes in factors affecting such forward-looking statements or otherwise.