Mr. Mark Brennan reports

CERRADO GOLD ISSUED PRELIMINARY LICENSE FOR ITS MONTE DO CARMO PROJECT, BRAZIL

Cerrado Gold Inc.'s Monte Do Carmo gold project has received the preliminary licence (LP) from the Instituto Natureza do Tocantins (Naturatins), the state environmental regulatory authority, which has authority to grant state permits.

The mine permitting process in Tocantins has three stages, the LP, the installation licence (LI) and finally the licence to operate (LO). The granting of the LP is an important milestone in the licensing process as it outlines all the basic parameters of the project to be accepted by all parties, including the local community and relevant regulatory bodies. The subsequent installation licence allows for the commencement of construction activities for the project. The company expects to receive the LI within the next three to four months. The final licence, the LO, is granted upon completion of construction and at commencement of operations.

Mark Brennan, chief executive officer and chairman, commented: "The award of the LP is a significant milestone for the MDC project and reflects the great work done by our Brazilian team and represents a significant endorsement from the community and regulators for the development of the project. As previously announced, discussions for project financing are ongoing, and we look forward to the completion of the FS in the coming weeks as we work to bring the Monte Do Carmo project into production."

About Cerrado Gold Inc.

Cerrado Gold is a Toronto-based gold production, development and exploration company focused on gold projects in South America. The company is the 100-per-cent owner of both the producing Minera Don Nicolas mine in Santa Cruz province, Argentina, and the highly prospective Monte Do Carmo development project, located in Tocantins state, Brazil.

At Minera Don Nicolas, Cerrado is maximizing asset value through continued operational optimization and further production growth. An extensive campaign of exploration is continuing to further unlock potential resources in the company's highly prospective land package in the heart of the Deseado masiff.

At Monte Do Carmo, Cerrado is rapidly advancing the Serra Alta deposit through feasibility and into production. Serra Alta is expected to be a high-margin and high-return project with significant exploration potential on an extensive and highly prospective 82,542-hectare land package.

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