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CERT.V ·

Cerrado GOLD Announces Results of Annual General Meeting of Shareholders

Shareholder Meetings

June 30, 2022 www.cerradogold.com

CERRADO GOLD ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING OF

SHAREHOLDERS

• All matters approved by shareholders

• Two new directors elected to the board

TORONTO, ONTARIO - Cerrado Gold Inc. [TSX.V: CERT][OTCQX:CRDOF] ("Cerrado" or the

"Company”) is pleased to announce that at the Company’s 2022 Annual General Meeting of

Shareholders (“Meeting”) all matters presented to shareholders were approved including the

election of two new members to the board of directors. The Meeting was held on June 30, 2022, in

Toronto, Ontario. Details of the voting results are set out below.

Mark Brennan, CEO & Co Chairman, commented, “We are pleased to welcome Bob Sellars and Chris

Jones to the Cerrado Board. Their collective corporate and capital market knowledge and experience

are a strong addition to the Cerrado team and we look forward to their support as we continue to

grow the Company. We would also like to thank Mr. Jon Gilligan and Ms. Petra Decher for their

significant contributions to the Company and wish them well in their ongoing and future endeavors.

We also thank Mr. Oscar Neto who has stepped down from the board but will continue to serve as

advisor.”

Robert (Bob) M. Sellars has 40 years experience in capital markets and financial services and has

significant experience on investment industry committees within the IIROC. Mr. Sellars holds the

position of Chief Financial Officer at Red Cloud Financial Services Inc. Previously, Mr. Sellars served

as Chief Financial Officer & Executive Vice President for Dundee Corp. Mr. Sellars is a Chartered

Professional Accountant (CPA), Chartered Accountant (CA), Chartered Financial Analyst (CFA) and

received an MBA from the University of Windsor.

Christopher Jones is a Chartered Professional Accountant (CPA), Chartered Accountant (CA),

Licensed Public Accountant (LPA), Chartered Financial Analyst (CFA) and Chartered Business

Valuator (CBV). As the youngest Partner at Williams & Partners; Chartered Accountants, Mr. Jones

advises on complex taxation strategies, growth strategies, cash flow management, financing

strategies, wealth management, and succession planning. Mr. Jones advises several private equity

firms on acquisition targets and appropriate due diligence req uirements highlighting key risk areas

and maximizing target potential while serving as an advisor to high-net worth clients and families.

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Meeting Voting Results

A total of 36,950,323 common shares were voted at the Meeting, representing 48.16% of the

votes attached to all outstanding common shares of the Company. All matters presented for

shareholder approval at the Meeting were duly authorized and approved as follows.

Election of Directors

The shareholders elected each of the eight nominees listed in the Company’s Management Proxy

Circular. Details of the voting results are as follows:

Name Votes in Favour % Votes Withheld %

Mark Brennan 29,635,893 85.510% 5,022,069 14.490%

Robert Campbell 34,656,759 99.997% 1,203 0.003%

Christopher Jones 34,656,759 99.997% 1,203 0.003%

Kurt Menchen 34,656,759 99.997% 1,203 0.003%

Elmer Prata Salomão 34,656,759 99.997% 1,203 0.003%

Jad Salomão 34,656,759 99.997% 1,203 0.003%

Robert Sellars 34,656,759 99.997% 1,203 0.003%

Stephen Shefsky 34,656,759 99.997% 1,203 0.003%

Appointment of Auditor

KPMG LLP was appointed auditor of the Company and the directors of the Company were authorized

to fix the auditor’s remuneration. Details of the voting results are as follows:

Total Votes % of Votes Cast

Votes in Favour 36,949,120 99.997%

Votes Withheld 1,203 0.003%

Total Votes Cast 36,950,323 100%

For further information please contact

Mark Brennan Nicholas Campbell, CFA

CEO and Co Chairman Director, Corporate Development

Tel: +1-647-796-0023 Tel.: +1-905-630-0148

[email protected] [email protected]

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About Cerrado Gold

Cerrado Gold is a public gold producer and exploration company with gold production derived from

its 100% owned Minera Don Nicolás mine in Santa Cruz province, Argentina. It also owns 100% of

the assets of Minera Mariana in Santa Cruz province, Argentina. The company is also undertaking

exploration and development at its 100% owned Monte Do Carmo project located in Tocantins,

Brazil. For more information about Cerrado Gold please visit our website at: www.cerradogold.com.

Disclaimer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS

DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE

ADEQUACY OR ACCURACY OF THIS RELEASE.