Cerrado GOLD Provides Corporate Update
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June 26, 2024 www.cerradogold.com
CERRADO GOLD PROVIDES CORPORATE UPDATE
• Third advance of US$7 million under the Signing Loan with subsidiary of Hochschild
Mining PLC (“Hochschild”) has now been received
• McGovern Hurley Appointed Auditor
TORONTO, ONTARIO – Cerrado Gold Inc. [TSX.V: CERT][OTCQX: CRDOF] (“Cerrado” or the
“Company”) is pleased to announce it has received the final advance under the Signing Loan from
Hochschild in the amount of US$7 million. Total funds received from Amarillo Mineração do Brasil
Ltda. ("Amarillo"), a wholly -owned subsidiary of Hochschild , under the Signing Loan now stand at
US$15 million.
Under the terms of the option agreement with Amarillo (“ Proposed Transaction ”), following
shareholder approval for the Proposed Transaction, the Signing Loan, together with all accrued and
unpaid interest thereon and expenses relating thereto, shall be deemed to be repaid in full by
Cerrado by the concurrent set off of an amount equal to the Signing Loan due by Amarillo as part of
the Purchase Price. If Cerrado fails to secure the Cerrado Shareholder Approval on or before June
30, 2024, the Signing Loan will mature on September 30, 2024, however Hochschild shall be entitled,
in its sole discretion, to accelerate the Signing Loan as early as July 1, 2024. The annual and special
meeting of shareholders is to be held on June 27, 2024.
Additionally, Cerrado is pleased to announce it has appointed McGovern Hurley LLP as its auditor
and that it will be proposing that shareholders appoint McGovern Hurley LLP as Cerrado’s auditor
at the upcoming annual and special meeting of shareholders on June 27, 2024 following mutual
discussion between Cerrado and KPMG LLP and notice from KPMG LLP not to stand for re -
appointment as auditor of 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, 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 p roject located outside of
Chibougamou, Quebec.
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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
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, appointment of auditors and the outcome of the
shareholder meeting . 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 the actual results and future events to differ materially from those
expressed or implied by such forward -looking statements. Such factors include, but a re not limited
to general business, economic, competitive, political and social uncertainties. Accordingly, readers
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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.