Cerro de Pasco Resources Announces Private Placements of up to $15 Million

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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MONTRÉAL, Oct. 20, 2025 (GLOBE NEWSWIRE) — Cerro de Pasco Resources Inc. (TSXV: CDPR) (OTCQB: GPPRF) (FRA: N8HP) (BVL:CDPR) (“CDPR” or the “Corporation”) is pleased to announce a commercially reasonable efforts private placement pursuant to an agreement with SCP Resource Finance LP (“SCP”), together with Raymond James Ltd. (“RJ”), as co-lead agents and joint bookrunners (the “Co-Lead Agents”), on behalf of themselves and a syndicate of agents (hereinafter referred to collectively as the “Agents”), of up to to 31,250,000 units of the Corporation (each, a “Unit”) at a price of $0.48 per Unit (the “Offering Price”) for gross proceeds of up to $15,000,000 (the “LIFE
Offering”) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), as modified by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “Listed Issuer Financing Exemption”).

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Each Unit will consist of (i) one common share in the capital of the Corporation (a “Common Share”) and (ii) one half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle its holder to acquire one additional Common Share (a “Warrant Share”) at a price of $0.68, for a period of 24 months following the Closing Date (as defined herein), subject to a restriction on exercise expiring 61 days from the Closing Date.

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The Agents will act as agent on a “commercially reasonable” agency basis in connection with the Offering.

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The Corporation intends to use the net proceeds from the Offering to advance technical, environmental and engineering work required for the feasibility stage of the Quiulacocha Tailings Project, in addition to general corporate purposes.

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The securities issuable from the sale of Units pursuant to the Listed Issuer Financing Exemption are expected to be immediately freely tradeable and will not be subject to a hold period under applicable Canadian securities laws.

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There is an offering document related to the LIFE Offering that can be accessed under the Corporation’s profile at www.sedarplus.ca and on the Corporation website at https://www.pascoresources.com/. Prospective investors should read this offering document before making an investment decision.

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It is expected that closing of the Offering will take place on or about November 6, 2025 (the “Closing Date”). Closing of the Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals.

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As consideration for their services, the Agents will receive an aggregate cash fee equal to 6.0% of the gross proceeds of the Offering. In addition, the Agents shall be paid 6.0% broker warrants (the “Broker Warrants”), with each Broker Warrant to be exercised into one Unit at the Issue Price for a period of 2 years from the Closing Date (subject to reduction with respect to sales made to “president’s list” investors).

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This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.