Cerrado GOLD Makes Final Payment FOR the Acquisition of Its Minera Don Nicolas GOLD MINE in Santa CRUZ, Argentina
April 1, 2025 www.cerradogold.com
CERRADO GOLD MAKES FINAL PAYMENT FOR THE ACQUISITION OF ITS MINERA DON
NICOLAS GOLD MINE IN SANTA CRUZ, ARGENTINA
• US$5 million payment completes balance of the purchase price for MDN
• MDN purchase price consideration totals US$47 million
• Over ~200,000 Gold Equivalent Ounces (“GEO’s”) produced at MDN since its acquisition
in 2020 to year end 2024
TORONTO, ONTARIO – Cerrado Gold Inc. [TSX.V: CERT] [OTCQX: CRDOF] (“Cerrado” or the
“Company”) has paid the final US$5 million instalment of the purchase price to the vendors of the
Minera Don Nicolas (“MDN”) gold mine in Argentina (see news release dated March 17, 2020). In
aggregate, the purchase price for the acquisition of MDN totalled US$47 million.
Mark Brennan, Chairman & CEO commented: “We are very pleased to have satisfied the payment
terms for the acquisition of MDN. MDN’s growing production along with record high gold prices
continues to support the deleveraging of Cerrado’s balance sheet and building a healthy financial
position. MDN’s cashflow generation will enable Cerrado to pursue a rigorous exploration program
to expand its resources. We are convinced that MDN continues to be at the early stages of its
development cycle, and we are optimistic that MDN has the potential to rival the long established
operations on the Deseado Massif.”
Since closing the acquisition of MDN in April 2020, Cerrado has significantly grown the production
profile from approximately 22,000 ounces to 55,000 ounces per annum and has produced more
than 200,000 cumulative GEO’s to year end 2024 with All-In Sustaining Costs in-line or below many
of the larger operations in the Deseado Massif. Las Calandrias, MDN’s Heap Leach operation
continues to perform well, and is anticipated to further support Cerrado’s production base through
the development of an underground operation at Paloma anticipated to begin production in Q3
2025. The Company is currently preparing a robust exploration campaign for the balance of the year,
targeting mine life extension from open-pit, underground and heap leach resource expansion.
Assuming the completion of the acquisition of Ascendant Resources Inc. , which is anticipated to
close on or about May 12, 2025, and is subject to certain closing conditions, the Company’s healthy
financial position is expected to support development of the Lagoa Salgada Project in Portugal which
anticipates a construction decision by the end of 2025.
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IR Services and Marketing Agreement
The Company has entered into an engagement with The Korelin Economics Report (the “KE Report”)
for strategic marketing and investor relations services to raise Cerrado's investor profile.
The KE Report will assist with investor awareness as a third-party content creator through podcasts,
management interviews and news amplification through their platform and YouTube channel as
well as and investor presentations. The KE Report engagement is for a term of 6 months with the
opportunity to extend based on a successful outcome for a fee of C$15,000 for the six-month term.
No bonus fees or stock options will be paid to any of the Consultants. The KE Report is arm's length
to the Company.
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, Argentin a. 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 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 grad e and high purity product facilitates the
migration of steel producers from 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
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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
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, the anticipated closing of the acquisition of
Ascendant Resources Inc., the Company’s cash position and anticipated future cash flows and debt
levels, the production rate and costs at MDN, the exploration potential and mine life at MDN, and
the potential impact of the KE Report in raising investor awareness of the Company . In making the
forward- looking statements contained in this press release, Cerrado has made certain assumptions.
Although C errado 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 results, whether as a result of new information, future
events, changes in assumptions, changes in factors affecting such forward -looking statements or
otherwise.