Mr. Guy Goulet reports

CERRO DE PASCO RESOURCES ANNOUNCES PRIVATE PLACEMENT OF COMMON SHARE UNITS

Cerro de Pasco Resources Inc. intends to complete a non-brokered private placement offering of up to 10 million units of the corporation at a price of 10 cents per unit for aggregate gross proceeds of up to $1-million. Each unit will comprise one common share in the capital of the corporation and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of 25 cents per share for a period of 24 months from the closing date of the offering.

In the event that, during the period following 24 months from the closing date, the volume-weighted average trading price of the common shares exceeds 60 cents per common share for any period of 20 consecutive trading days, the corporation may, at its option, following such 20-day period, accelerate the expiry date of the warrants by delivery of notice to the registered holders thereof and issuing a press release, and, in such case, the expiry date of the warrants shall be deemed to be 5 p.m. (Montreal time) on the 30th day following the later of (i) the date on which the acceleration notice is sent to warrant holders, and (ii) the date of issuance of the warrant acceleration press release.

The net proceeds from the offering will be used for working capital.

All securities issued in connection with the offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

About Cerro de Pasco Resources Inc.

Cerro de Pasco Resources is a mining and resource management company with unparalleled knowledge of the mineral endowment in the city of Cerro de Pasco and its surroundings. Initially, the corporation will unlock the useful life of the mine and extend the concession areas in its Santander mining operation, applying the highest safety, environmental, social and governance standards. The key focus of growth for the corporation is on the development of the El Metalurgista mining concession, one of the world's largest surface mineralized resources, applying the latest techniques and innovative solutions to process tailings, extract metals, and convert the remaining waste into green hydrogen and derivatives.

We seek Safe Harbor.