Announcement • Mar 03
Cerro de Pasco Resources Inc. Enters Project Development Funding Agreement with U.S. International Development Finance Corporation for Quiulacocha Cerro de Pasco Resources Inc. announced that it has entered into a Project Development Funding Agreement (Agreement) with the U.S. International Development Finance Corporation (DFC), the development finance institution of the United States Government. Under the Agreement, DFC will provide up to USD 5 million in milestone-based project development funding to support defined project development activities for the Quiulacocha Tailings Reprocessing Project in Peru. In addition, the Agreement states that DFC is considering the possibility of providing up to USD 300 million in long term direct loan financing to support construction of the Project. Any such financing would be subject to, among other things, completion of the PD Activity, satisfactory due diligence, internal credit approvals and execution of definitive financing documentation. There can be no assurance that any such financing will be approved or provided. Quiulacocha is considered one of the largest historic tailings resources globally. The Project targets recovery of silver and base metals together with gallium and indium, strategic technology metals essential to advanced semiconductors, energy systems and defense applications. Pursuant to the Agreement, CDPR will carry out the defined project development activities (the “PD Activity”), which include Sonic Drilling, Geotechnical and Hydrogeological Drilling, completion of a Feasibility Study and Engineering program, and preparation of a comprehensive Environmental and Social Impact Assessment (“ESIA”), as further described in the PD Implementation Plan. DFC’s funding will support defined components of the PD Activity, with CDPR contributing matching funds on a 1:1 basis for the applicable workstreams. This support from DFC marks a significant milestone in advancing the long-term potential of a world class multi metal and environmental remediation project and establishes a structured framework for the PD Activity. The Agreement also creates a defined framework under which DFC may consider potential future support beyond the development stage. Board Change • Feb 04
Less than half of directors are independent Following Director Lara Smith's arrival on 01 February 2026, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director John Carr was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 04
Cerro de Pasco Resources Inc. Appoints Lara Smith as Board Directors Cerro de Pasco Resources Inc. has appointed Lara Smith to its Board of Directors. Lara Smith is an internationally recognized expert in the field of financial evaluation, project economics and risk assessment, with almost two decades of experience on a variety of global projects across the mining and industrial sectors. With a Bachelor of Science in Chemistry, Statistics and Economics and a B.Comm Honours in Financial Analysis and Portfolio Management from the University of Cape Town, Ms. Smith has advised management teams on economic and market strategies for an array of commodities including base metals, bulk commodities, critical metals and rare earths in the sustainable energy transition. Lara’s technical and valuation experience complements the Board’s existing skill set and governance oversight at a very appropriate time as development options, capital allocation, and commercial framework are being considered.