Mr. Mark Brennan reports

CERRADO GOLD APPOINTS ED GUIMARAES AS EXECUTIVE VICE PRESIDENT

Cerrado Gold Inc. has appointed Ed Guimaraes to the position of executive vice-president, effective June 1, 2025.

Mr. Guimaraes has over 30 years of experience in the mining industry, most recently in an executive advisory capacity and through several board directorships. His career spans a broad range of base and precious metals producers, having supported the development, expansion and continuing operations of copper, zinc, lead, gold and silver mines in Canada, Chile, Peru, Mexico and Argentina. Mr. Guimaraes previously acted as the chief financial officer at Sierra Metals between 2014 and 2023, and he was with Aur Resources between 1995 and 2007, ultimately serving as executive vice-president, finance, and chief financial officer, until its acquisition by Teck Resources in 2007 for $4.1-billion (U.S.). Prior to 1995, he worked in the Toronto mining group of PricewaterhouseCoopers. Mr. Guimaraes is a chartered professional accountant (CPA, CA), is a graduate of the ICD-Rotman Directors Education Program (ICDD), and holds a bachelor of arts in administrative and commercial studies from Western University.

Mark Brennan, executive chairman, commented: "On behalf of the board and management, I would like to welcome Ed to the team. We had very strong success working together growing Sierra Metals, and his extensive financial and operational experience supporting development and expansion of projects will add significant benefit to the company as we continue to grow the Minera Don Nicolas gold mine to its full potential and advance the Lagoa Salgada VMS [volcanogenic massive sulphide] and Mont Sorcier high-purity iron ore projects."

About Cerrado Gold Inc.

Cerrado Gold is a Toronto-based gold production, development and exploration company. The company is the 100-per-cent owner of the producing Minera Don Nicolas and Las Calandrias mine in Santa Cruz province, Argentina. In Portugal, the company holds an 80-per-cent interest in the highly prospective Lagoa Salgada VMS project through its position in Redcorp -- Empreendimentos Mineiros Ltda. In Canada, Cerrado Gold is developing its 100-per-cent-owned Mont Sorcier iron project located outside of Chibougamau, Que.

In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias heap-leach project. 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 massif.

In Portugal, Cerrado is focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian pyrite belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver and gold. Extensive exploration upside potential lies both near deposit and at prospective stepout targets across the large 7,209-hectare property concession. Located just 80 kilometres from Lisbon and surrounded by exceptional infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity, already showing its minable scale and cash flow generation potential.

In Canada, Cerrado holds a 100-per-cent interest in the Mont Sorcier high-purity iron project, which has the potential to produce a premium iron concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high-grade and high-purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of sustainable development goals.

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