Cerrado GOLD Issued Preliminary License FOR Its Monte Do Carmo Project, Brazil
May 29, 2023 www.cerradogold.com
CERRADO GOLD ISSUED PRELIMINARY LICENSE FOR ITS MONTE DO CARMO PROJECT,
BRAZIL
• Preliminary Licence (“LP”) granted to Monte Do Carmo (“MDC”) by Tocantins state environmental agency
• First in three stage licence process to bring the MDC project into production
• Installation license expected within 90-120 days
TORONTO, ONTARIO - Cerrado Gold Inc. [TSX.V: CERT][OTCQX:CRDOF] (“Cerrado” or the “Company”) is pleased
to announce that its Monte Do Carmo gold project has received the Preliminary License (“LP”) from the Instituto
Natureza do Tocantins (“NATURATINS”) the state environmental regulatory authority, which has authority to grant
state permits.
The mine permitting process in Tocantins has three stages, the LP, the installation license ( “LI”), and finally the
license to operate (“LO”). The granting of the LP is an important milestone in the licensing process as it outlines all
the basic parameters of the project to be accepted by all parties , including the local community and relevant
regulatory bodies. The subsequent installation license allows for the commencement of construction activities for
the project. The Company expects to receive the LI within the next 3 to 4 months. The final licence, the LO, is granted
upon completion of construction and at commencement of operations.
Mark Brennan, CEO and Chairman commented “The award of the LP is a significant milestone for the MDC project
and reflects the great work done by our Brazilian team and represents a significant endorsement from the community
and regulators for the development of the project. As previously announced, discussions for Project Financing are
ongoing, and we look forward to the completion of the FS in the coming weeks as we work to bring the Monte Do
Carmo project into production. ”
About Cerrado Gold
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 mine in Santa Cruz
province, Argentina, and the highly prospective Monte Do Carmo development project, located in Tocantins State,
Brazil.
At Minera Don Nicolas, Cerrado is maximizing asset value through continued operational optimization and further
production growth. An extensive campaign of exploration is ongoing to further unlock potential resources in our
highly prospective land package in the heart of the Deseado Masiff.
At Monte Do Carmo, Cerrado is rapidly advancing the Serra Alta deposit 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.
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: +1-647-796-0023 Tel: +1-647-805-5662
[email protected] [email protected]
Disclaimer
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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 histor ical 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 eve nts 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 w ords 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 cont ained 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, including, but not limite d to the likelihood of receiving additional licenses
and timing thereof, the expected timing to complete the Feasibility Study at MDC and the decision to move towards
construction. 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 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 result s, whether as a result of new information, future events, changes in
assumptions, changes in factors affecting such forward-looking statements or otherwise.