Cerrado GOLD Appoints Andrew Croal as Chief Technical Officer
October 7, 2024 www.cerradogold.com
CERRADO GOLD APPOINTS ANDREW CROAL AS CHIEF TECHNICAL OFFICER
• Enters IR Services Marketing Agreement with German Mining Networks GMBH
TORONTO, ONTARIO – Cerrado Gold Inc. [TSX.V: CERT][OTCQX: CRDOF] (“Cerrado” or the
“Company”) is pleased to announce the appointment of Andrew Croal as Chief Technical Officer.
Mr. Croal is a Mining Engineer with 40 years of worldwide global mining experience in gold and base
metal commodities. He is a versatile and practical mining professional with a proven track record
of providing fit for purpose, workable solutions. H is competence ranges to all aspects of mine
planning, control, reporting and evaluation and combines technical expertise with safe operating
requirements for all facets of the mining cycle. He has experience in Canada, South America, Africa,
Australia and Papua New Guinea, havin g held senior roles in both Senior and Junior mining firms.
He was a key member of several mine-building teams, most notably Rosebel (Iamgold), Detour Gold
and Buzwagi (Barrick Gold). Andrew is a Professional Engineer in Ontario and has a BSc Mining
Engineering from Queen’s and an MBA from the University of Toronto.
In connection with his Mr. Croal’s appointment, the Company has issued 250,000 restricted share
units ("RSUs") in accordance with the Company's omnibus incentive plan. The RSUs shall vest one
half on the one-year anniversary, and one-half on the following anniversary, being October 7, 2026.
Once vested, each RSU represents the right to receive one common share of the Company.
The Company also announce s that , subject to approval of the TSX Venture Exchange, it will enter
into an engagement with German Mining Networks GmbH ( the “ConsultantGMN”), an investor
relations firm, located at Hauptstr. 82 98593 Floh -Seligenthal, Germany, Tel.: +49 176 990 960 54,
Email: [email protected] to provide investor relations services to the Company,
specifically the arrangement of investor meetings and investor roadshows, subject to review by the
TSX Venture Exchange . Peter Krah is the managing director of GMN and will be responsible for all
services to be performed to the Company. for strategic marketing and investor relations services to
raise Cerrado's investor profile.
The Consultant GMN will assist in marketing of the Company to European investors. The Agreement
will be set for an initial term of three (3) months , with the opportunity to extend based on a
successful outcomeby mutual agreement, for a fee of C$6,800 per month. No bonus fees or stock
options will be paid to the Consultant. The Consultant Neither GMN, nor Peter Krah currently have
a direct or indirect interest in the securities of the Company, or any right or intent to acquire such
an interest. GMN and Peter Krah are arm's length to the Company.
is arm's length to the Company.
Formatted: Default Paragraph Font, Font: (Default)
Times New Roman, English (United States)
-2-
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, Br azil under option to Amarillo
Mineração Do Brasil Ltda., a subsidiary of Hochschild Mining PLC . In Canada, Cerrado Gold is
developing it's 100% owned Mont Sorcier Iron Ore and Va nadium 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 i s ongoing to further unlock
potential resources in our highly prospective land package in the heart of the Deseado Masiff.
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 fro m blast furnaces to electric arc furnaces , contributing to the
decarbonization of the industry and the achievement of SDG goals.
For more information about Cerrado please visit our website at: www.cerradogold.com.
Mark Brennan
CEO and Chairman
Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
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.
This press release contains statements that constitute “forward -looking information” (collectively,
“forward-looking statements”) within the meaning of the applicable Canadian securities 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
Formatted: Normal (Web), Space After: 10 pt, Line
spacing: single, Don't keep with next, Font Alignment:
Baseline, Pattern: Clear (White)
-3-
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 Cerrado. In making the forward - looking statements
contained in this press release, Cerrado has made certain assumptions. 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 which may cause th e 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. Accordingl y, 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.