Cerrado Gold Reports Strong Q2 2026 Production Results at Its Minera Don Nicolas Mine in Argentina

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New Preliminary Economic Assessment Planned 

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As the Company continues to advance its exploration program and consolidate the results with potential resources from the recently acquired Falcon and Calandrias II properties, the Company plans to complete a new third-party, independent Preliminary Economic Assessment by Q1/2027. The Preliminary Economic Assessment is expected to incorporate resources anticipated to be outlined for both heap leach production and production via the CIL plant. The objective of the new PEA is to demonstrate the anticipated growth in MDN’s mineral resource base, the corresponding extension in mine life, and the potential to increase production rates. Over the last two years, the MDN has invested heavily in creating twin production streams via both the CIL and heap leach production routes. This combined infrastructure is now in place and has positioned MDN to deliver strong operational performance irrespective of the type of ore that is recovered.

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Exploration work continued throughout the quarter across the existing property and in the newly acquired Falcon area. At both the newly acquired properties, on-site sampling and mapping have been initiated, and a drill program has been designed and should commence in Q3/2026. Given the extent of existing drilling and the level of work completed at Falcon to date, the planned drill program is expected to add mineral resources to support the expansion of heap leach operations. Completion of the drill program and associated testing is expected before year-end supporting the completion of the PEA in Q1/27. Further regional consolidation remains a key corporate strategy.

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Review of Technical Information

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The scientific and technical information in this press release has been reviewed and approved by Andrew Croal, P.Eng., Chief Technical Officer for Cerrado Gold, who is a Qualified Person as defined in National Instrument 43-101.

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About Cerrado

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Cerrado Gold is a Toronto-based gold production, development, and exploration company. The Company is the 100% owner of the producing Minera Don Nicolás and Las Calandrias mines in Santa Cruz province, Argentina. In Portugal, the Company holds an 80% interest in the highly prospective Lagoa Salgada VMS project through its position in Redcorp – Empreendimentos Mineiros, Lda. In Canada, Cerrado Gold is developing its 100% owned Mont Sorcier Iron project located outside of Chibougamau, Quebec.

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In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas (“MDN”) operation through continued operational optimization and is growing production through its operations at the Las Calandrias heap leach project. 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.

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In Portugal, Cerrado is focused on the development and exploration of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver, and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 7,209-hectare property concession. Located just 80km from Lisbon and surrounded by existing infrastructure, Lagoa Salgada offers a low-cost entry to a significant development and exploration opportunity, already showing its mineable scale and cash flow generation potential.

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In Canada, Cerrado is developing its 100% owned Mont Sorcier high-purity, high-grade, Direct Reduced Iron project, located on the traditional Cree territory of Eeyou Istchee James Bay in the municipality of Chibougamau. The Mont Sorcier project has the potential to produce a premium iron 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 from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of sustainable development goals.