Reported Earnings • May 28
First quarter 2026 earnings released: EPS: US$0.095 (vs US$0.04 loss in 1Q 2025) First quarter 2026 results: EPS: US$0.095 (up from US$0.04 loss in 1Q 2025). Revenue: US$53.0m (up 84% from 1Q 2025). Net income: US$12.9m (up US$17.0m from 1Q 2025). Profit margin: 24% (up from net loss in 1Q 2025). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Metals and Mining industry in Europe. Announcement • May 28
Cerrado Gold Inc. to Report Q1, 2026 Final Results on May 28, 2026 Cerrado Gold Inc. announced that they will report Q1, 2026 final results on May 28, 2026 Announcement • Apr 21
Cerrado Gold Inc., Annual General Meeting, Jun 17, 2026 Cerrado Gold Inc., Annual General Meeting, Jun 17, 2026. Announcement • Apr 20
Cerrado Gold Inc. to Report Fiscal Year 2025 Results on May 31, 2026 Cerrado Gold Inc. announced that they will report fiscal year 2025 results at 4:00 PM, US Eastern Standard Time on May 31, 2026 Announcement • Jan 23
Cerrado Gold Inc. Announces Tacit Approval of Environmental Impact Assessment for the Lagoa Salgada Project, Portugal Cerrado Gold Inc. announced that, pursuant to applicable provisions of Portuguese environmental law, the Environmental Impact Assessment ("EIA") for the Lagoa Salgada Project, located in the Iberian Pyrite Belt of southern Portugal (the "Project"), is considered by Cerrado and its counsel, to be tacitly approved by operation of law. Under the Portuguese Environmental Impact Assessment legal framework (Decree-Law no. 151-B/2013, as amended), the Portuguese Environmental Agency (Agencia Portugaluesa do Ambiente - "APA") is required to issue an Environmental Impact Declaration ("DIA") within a statutory deadline following submission of a reformulated project. That deadline has now lapsed without a final decision being lawfully issued, resulting in tacit approval (deferimento tacito) of the EIA and the revised project submitted by the Company on 8 November 2025. As a consequence, and in accordance with Article 19(2) of the EIA regime, the Company views the Project deemed approved for environmental purposes, enabling Cerrado to proceed to the Final Execution Project and Environmental Compliance Report (RECAPE) phase. The Company intends to request formal certification of tacit approval to further progress the permitting process. The process remains ongoing since APA's opinion on the matter currently remains uncertain and there is no assurance that APA will not object or issue an unfavourable opinion notwithstanding that the deadline hasapsed. Announcement • Jan 21
Cerrado Gold Inc. Provides Production Guidance for 2026 Cerrado Gold Inc. provided production guidance for 2026. The company is providing 2026 annual production guidance of 50,000 to 60,000 GEO. It should be noted that production is expected to be disproportionately higher in H2/2026 due to mining of lower grade heap leach material in the early part of 2026, as per the mine plan and the underground development and production cycle. Announcement • Nov 29
Cerrado Gold Inc. Maintains Annual Production Guidance for 2025 Cerrado Gold Inc. maintained annual production guidance for 2025. For the period, The Company continues its 2025 annual production guidance to 50,000 – 55,000 GEO. Announcement • Nov 13
Cerrado Gold Inc. Provides Update on Progress to Development of Its Mont Sorcier High Purity Magnetite Iron Project Chibougamau Independent Mines Inc. informed shareholders that Cerrado Gold Inc. has provided an update on the progress to the development of its Mont Sorcier high purity magnetite iron project located on the traditional Cree Territory of Eeyou Istche James Bay in the municipality of Chibougamau, Quebec. The Mont Sorcier project is currently in the later stages of a feasibility study which Cerrado has targeted to be completed by second quarter/2026. Chibougamau holds a 2% Gross Metal Royalty (GMR) on Iron and Vanadium production from the Mont Sorcier Project. The Key Updates to the Mont Sorcier Feasibility Study: Cerrado stated that the feasibility study will contemplate a 60% increase in the production rate to 8 million tonnes per annum vs. 5 million tonnes per annum in the PEA published September 8, 2022. Cerrado has indicated that a phased production start from 4 million tonnes per annum at the start to 8 million tonnes per Annum in approximately the 3rd year of production. This increase is forecasted to increase capital costs for phase one by 30-40% relative to the PEA due to revised flow sheet design and infrastructure upsizing to meet the eventual phase two throughput. Cerrado expects Phase 2 capital costs to be significantly lower due in part to the construction of certain facilities in phase one which were previously planned to be constructed in phase two. Cerrado stated that the resource will see an additional 17,890 metres of resource definition drilling added to the database, with some assays still pending. Cerrado anticipates the mine life will remain at 20 years despite the increase in through-put due to the expected results of the next mineral resource update. Cerrado indicated that the Mont Sorcier project is progressing well to submit the projects ESIA in Fourth Quarter/2026 and are still confident that construction could start in mid 2028, if all permits and financing requirements are received. Announcement • Nov 11
Cerrado Gold Provides Update on Its Mont Sorcier High Grade Direct Reduction Iron Project in Quebec Cerrado Gold provided an update on the progress and anticipated changes to the development proposal for its Mont Sorcier high purity magnetite iron project located on the traditional Cree territory of Eeyou Istchee James Bay in the municipality of Chibougamau, Quebec. Mont Sorcier is currently in the later stages of a Feasibility Study targeted for completion in second quarter of 2026. Currently, the growth in demand for high grade DRI material is approximately 10% pa; well above the growth for the broader iron ore market, resulting in significant price premiums relative to more standard and lower grade iron ore concentrates. Due to its location, low strip ratio, and innate infrastructure advantages, namely availability of existing rail and Port of Saguenay, the feasibility study is expected to demonstrate a long life mine with high margins, low operating costs, and low capital intensity. The Mont Sorcier magnetite iron project is now well advanced, with all technical streams required to complete the feasibility study. As a result, several optimizations have led to changes to the project scope from the original 43-101 Preliminary Economic Assessment dated September 8, 2022 ("PEA"). The revised development plan will propose the project be developed in two phases, each delivering 4 MM tpa of concentrate production. Phase one is currently being designed to deliver an initial 4 MM tpa of concentrates with a further 4 MM tpa of concentrate coming online in approximately the third year of operation to bring the total annual production rate to 8 MM tpa of high grade, 67% iron concentrate. Higher costs relative to the PEA can be attributed to revised flow sheet design, the staged development plan, as certain infrastructure will be built to accommodate the 8 MM tpa expanded production rate in the initial phase, and overall industry wide inflation. Resource Definition: Over the past several months, the Company has completed 17,890 metres of resource definition with core logging completed and some assays still pending. Despite the increase in production rates, the Company still anticipates the mine life of the expanded operation to be approximately 20 years, although no assurance can be provided before the updated mineral resource estimate is completed. The Mont Sorcier ore body remains large and homogenous, and significant additional resources remain available for future upgrading to extend the mine life or for future expansion potential if desired. The Company remains confident that the overall timeline to potential construction commencing in mid-2028 remains on track, subject to receipt of necessary permitting and availability of project financing. Announcement • Oct 11
Cerrado Gold Inc. Announces Resignation of Robert Campbell as Director Cerrado Gold Inc. announced the resignation of Mr. Robert Campbell from its board of directors effective today. Mr. Campbell has tendered his resignation from the Cerrado board as he intends to retire. Announcement • Oct 01
Cerrado Gold Announces Acceleration of Exploration Program At Its Minera Don Nicolas Gold Mine Cerrado Gold Inc. announced that the Company has revised its exploration plans to accelerate the previously announced 20,000 metres exploration program at its Minera Don Nicolas gold mine (“MDN”). The Company is planning to add three additional drill rigs (two diamond and one RC) to its diamond drill rig, aiming to accelerate and expand the current program and allow for drilling on multiple high quality targets simultaneously. The overall scope of the program is expected to increase significantly to approximately 50,000 metres in 2026. In addition, in order to expedite assay completion and turn around times, the Company is taking steps to certify its on-site lab. The Company anticipates issuing exploration results in batches to provide increased clarity and definition with results. The Company remains focused on expanding the mine life and potentially increasing production levels at MDN over the coming year. Operations on site are performing well and are in line with expectations, benefiting from new investment in mining equipment (new trucks and support equipment) to increase the higher rates of ore being delivered to the leach pad at a rate of 300,000 tpm to achieve planned production rates. In addition, underground development is progressing well, with three access portals now open. Initial, higher-grade underground ore is being fed to the mill, albeit in modest amounts, to blend with the lower-grade stockpiles. The bulk of the high-grade underground ore for 2025 is expected to be mined late in the fourth quarter under the current mine plan. Underground exploration is also expected to commence in the coming months once sufficient development has been completed. Announcement • Aug 22
Cerrado Gold Inc. Maintains Production Guidance for the Full Year of 2025 Cerrado Gold Inc. maintains production guidance for the full year of 2025. For the period, the company has maintained production guidance to 55,000 to 60,000 gold equivalent ounces (GEO). Announcement • Jun 26
Cerrado Gold Inc. Approves the Election of Rui Santos as Director Cerrado Gold Inc. announced that at its Annual and Special Meeting of Shareholders held on June 25, 2025, approved the election of Rui Santos as Director. Announcement • Jun 12
Cerrado Gold Inc. Begins Underground Operations at its Minera Don Nicolas Mine Cerrado Gold Inc. provided an update on the development of the Company's inaugural underground operation commencing underneath the high-grade Paloma pit at its Minera Don Nicolas Mine in Argentina ("MDN"). Earlier this week, the Company completed the initial blast to begin construction of the underground portal and progress the development of the underground mine over the coming months. The initial decline will be driven through the ore body and will provide nominal feed to the carbon in leach ("CIL") plant. Production from the underground is expected to ramp-up to reach steady state production by October this year. Additionally, the Company has now mobilized the initial drill rig to commence the previously announced 20,000 metre exploration drill program at MDN. The primary focus will be near surface, high-grade deposits that can provide feed to the CIL plant as well as expanding potential resources in and around the Las Calandrias heap leach project to add both high grade and heap leachable material. Underground drilling at Paloma will commence once the underground exploration platforms have been established. The scientific and technical information in this PR 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. Announcement • May 29
Cerrado Gold Inc. Raises Production Guidance for 2025 Cerrado Gold Inc. raised production guidance for 2025. For the period, the company raised its annual production guidance to 55,000 GEO - 60,000 GEO. AISC costs are expected to be modestly higher than previously anticipated with an AISC of between $1,500 per GEO - $1,700 per GEO. Announcement • May 23
Cerrado Gold Inc. to Report Q1, 2025 Results on May 29, 2025 Cerrado Gold Inc. announced that they will report Q1, 2025 results Pre-Market on May 29, 2025 Announcement • Apr 24
Cerrado Gold Inc., Annual General Meeting, Jun 25, 2025 Cerrado Gold Inc., Annual General Meeting, Jun 25, 2025. Announcement • Apr 16
Cerrado Gold Inc. Raises Production Guidance for the Full Year 2025 Cerrado Gold Inc. revised production guidance for the full year 2025. The Company is raising its 2025 annual production guidance to 55,000 to 60,000 GEO, up from 50,000 55,000 GEO, to include the addition of modest underground production. Announcement • Feb 04
Cerrado Gold Inc. (TSXV:CERT) entered into a definitive agreement to acquire the remaining 91.2% stake in Ascendant Resources Inc. (TSX:ASND) from Sprott Private Resource Streaming and Royalty Corp. and others for CAD 10.7 million. Cerrado Gold Inc. (TSXV:CERT) entered into a definitive agreement to acquire the remaining 91.2% stake in Ascendant Resources Inc. (TSX:ASND) from Sprott Private Resource Streaming and Royalty Corp. and others for CAD 10.7 million on February 3, 2025. Under the terms of the Arrangement Agreement, Ascendant shareholders would receive one (1) common share of Cerrado (each a "Cerrado Share") for every 7.8 common shares of Ascendant (the "Exchange Ratio"). The Exchange Ratio implies a consideration of CAD 0.06 per Ascendant Share, representing a premium of 14% based on the respective 30-day VWAPs as at on January 30, 2025, will be paid. Upon closing, the Arrangement would result in Ascendant shareholders owning approximately 21% of the Cerrado Shares outstanding upon closing of the Arrangement. Cerrado will issue 27.7 million shares for the transaction and will have approximately 131.3 million issued and outstanding shares following completion of the transaction. Upon completion of the Arrangement, Cerrado will indirectly own an 80% interest in the Lagoa Salgada Project located in Portugal ("Lagoa Salgada").The Arrangement Agreement also provides for a termination fee payable to Cerrado in the amount of CAD 1.2 million if the Arrangement Agreement is terminated in certain specified circumstances, and for Ascendant to be entitled to a payment of CAD 400,000 in respect of reimbursement of expenses if the Arrangement Agreement is terminated in certain specified circumstances. In connection with the Arrangement, Cerrado has entered into a subscription agreement with Ascendant pursuant to which it will subscribe for Ascendant Shares for gross proceeds of CAD 900,000 in cash at a price of CAD 0.0525 per Ascendant Share.
The transaction resulting in the proposed business combination between Cerrado and Ascendant will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario). The Arrangement will require approval by 66 2/3% of the votes cast by the shareholders of Ascendant at a special meeting of Ascendant shareholders (the "Ascendant Special Meeting") to be held following receipt of an interim order of the Ontario Superior Court of Justice. The Arrangement is subject to the acceptance by the TSX in respect of Ascendant and the TSX-V in respect of Cerrado. The Transactions have been unanimously approved by the members of the respective Boards of Directors of Cerrado and Ascendant eligible to vote thereon. In the case of Ascendant, the Board of Directors approved each of the Transactions upon receipt of the recommendation of its lead independent director who served and functioned as the special committee. In connection with the recommendation, Stifel Nicolaus Canada Inc. provided a fairness opinion to the Special Committee. WeirFoulds LLP is legal counsel to Cerrado. Stifel Nicolaus Canada Inc. acted as financial advisor to the Special Committee of Ascendant and Sotos LLP is legal counsel to Ascendant. Announcement • Jan 15
Cerrado Gold Inc. Provides Production Guidance for the Full Year 2025 Cerrado Gold Inc. provided production guidance for the full year 2025. For the year, the company expected production of between 50,000 - 55,000 GEO. Announcement • Dec 04
Cerrado Gold Provides an Update on its Mont Sorcier High Purity 67%+ Iron Grade Project in Quebec Cerrado Gold Inc. provided an update on its ongoing work programs to complete a NI 43-101 Bankable Feasibility Study by end of first quarter 2026 on its High Purity, DRI Grade, +67% iron Mont Sorcier magnetite iron ore project located near Chibougamau, Quebec. Metallurgical Program Focused on Delivering Premium Product: Detailed metallurgical testwork programs are currently being undertaken by Soutex Inc, to build on the previous metallurgical test results announced in March 2024. Previous testing has confirmed the ability to produce High Purity, DRI Grade, iron concentrates grading over 67%+ iron and less than 2.5% silica and alumina combined. Current testwork is focused on flotation testing, more detailed variability tests, grind size and reagent optimization programs and equipment sizing. Current testwork and overall process design are to be at the core of the NI 43-101 Bankable Feasibility Study ("BFS") which is targeted to be completed by end First Quarter 2026. While ongoing, results to date are encouraging and indicate the potential for further improvement in iron grade, purity and potentially grind size. The design and analysis of the metallurgical test work program is being completed by Soutex Inc., a consultancy firm specializing in ore processing and metallurgical processes based in Quebec City, Quebec, with testwork completed by SGS Canada, one of the world's leading testing, inspection and certification companies based in Quebec City. Bankable Feasibility ProgramIn addition to the current testwork, the Company has selected various consultants to undertake the key work programs in 2025 to deliver a NI 43-101 Compliant Bankable Feasibility study ("BFS") for the Mont Sorcier High Purity iron project. The lead consultant and study integrator will be DRA Global who will also be responsible for the updated Mineral Resource estimate, mine design and planning, geotech and hydrogeology. In addition, the company has retained Soutex (process design), LDV Consultants (site infrastructure, capital and operating Cost estimation) and WSP (environmental and permitting). Additional specialized consultants will be added as needed. The Bankable Feasibility Study will look to provide greater detail into the potential of the project that was highlighted in the previous 2022 NI 43-101 Preliminary Economic Assessment ("PEA") that delivered a project NPV8% of US$1.6 Billion. With a higher quality, 67%+ iron concentrate product now expected, anticipate any cost inflation to be largely offset by premium pricing. The PEA outlined a project producing 5.0 million tonnes of high-grade iron concentrates per annum (equivalent to producing 300,000 Au ounces per year at long term consensus prices) over a 21-year mine life. This material would then be rail hauled on existing railways to the Port of Saguenay for export to global markets. Given the scale of the existing resource, future expansion remains a likely possibility. The table below provides the summary of the PEA results. A Premium Product for the Transition EconomyThe Mont Sorcier project is uniquely positioned to be at the centre of the Green Steel transition. As the global demand for Green Steel increases, it is expected that the demand and overall price premium paid for higher grade products and DRI, will continue to increase and replace demand for lower grade materials. The ability to produce High Purity iron concentrates places Mont Sorcier as a project capable of delivering Critical and Strategic High Purity Iron as outlined by the Quebec and Canadian Governments, as it aspires to become a leader to support energy transition through the development of critical and strategic minerals and reduce overall global emissions. The ability to produce a high purity iron concentrate grading 67%+ iron with low silica and alumina; making it suitable to be classified as a Direct Reduction Iron grade product, significantly reduces the overall emission of greenhouse gases in steel production compared to other lower grade concentrates. It has the potential to be used in electric arc furnaces to produce steel products, further reducing emissions. Also, as the Mont Sorcier resource is a magnetite material, reducing the use of coal in the steel making process combined with the availability of hydroelectric power in Quebec lowers overall emission levels for steel producers. Announcement • Nov 07
Amarillo Mineracao do Brasil Limitada completed the acquisition of Monte Do Carmo Project from Cerrado Gold Inc. (TSXV:CERT) for $60 million. Amarillo Mineracao do Brasil Limitada executed option agreement to acquire Monte Do Carmo Project from Cerrado Gold Inc. (TSXV:CERT) for $60 million on October 30, 2024. A cash consideration of $45 million will be paid by Amarillo Mineracao do Brasil Limitada. Amarillo Mineracao do Brasil Limitada will pay an earnout/contingent payment of $15 million cash. As part of consideration, $60 million is paid towards assets of Monte Do Carmo Project.
The transaction is subject to approval of the TSX Venture Exchange. The deal has been approved by shareholders of Cerrado Gold and Hochschild Mining board unanimously considers the Transaction to be in the best interests of the shareholders. The expected completion of the transaction is November 5, 2024.
James Agnew and Hugh Samson of RBC Capital Markets, London acted as financial advisor, Stikeman Elliott LLP, Bichara Barata Costa e Rocha Advogados and Linklaters LLP acted as legal advisor for Amarillo Mineracao do Brasil Limitada and Hochschild.
Amarillo Mineracao do Brasil Limitada completed the acquisition of Monte Do Carmo Project from Cerrado Gold Inc. (TSXV:CERT) on November 6, 2024. 
