Mr. Guy Goulet reports

CERRO DE PASCO RESOURCES TO PURSUE SECONDARY LISTING ON THE LIMA STOCK EXCHANGE

Cerro de Pasco Resources Inc. will pursue a secondary listing of its shares on the Lima Stock Exchange (Bolsa de Valores de Lima) (BVL) as part of its strategy to expand its presence in Latin America and increase visibility among regional investors. The company's primary listing will remain on the TSX Venture Exchange.

The company has retained Kallpa Securities SAB as its sponsor and adviser for the listing process. Kallpa is a Peruvian investment firm specializing in equity sales, research and corporate finance. It is the exclusive sponsor for all 10 junior mining companies currently listed on the TSX Venture Exchange and cross-listed on the BVL. Since its founding in 2008, Kallpa has become one of Peru's leading brokerage firms, ranking eighth in trading volume among 20 Peruvian brokers, and widely recognized as the country's leading mining research house.

The listing application is expected to be filed within the next 30 days, with completion anticipated within approximately two to three months, subject to regulatory approvals.

Strategic rationale for the listing

Cerro de Pasco's planned listing on the BVL reflects its strong commitment to Peru and the broader Andean region, where the company's flagship asset, a silver-rich polymetallic reprocessing project targeting Cerro de Pasco's historic tailings, is located. A BVL listing will:

• Improve access for Peruvian and regional investors seeking exposure to sustainable mining and environmental remediation;
• Broaden Cerro de Pasco's shareholder base and enhance trading liquidity;
• Align the company with Latin America's most active equity market for mining.

The BVL is now part of NUAM Exchange, the newly formed regional holding company integrating the stock exchanges of Chile, Colombia and Peru into a single regional market. It offers listed companies increased visibility and access to a deeper pool of institutional and retail investors across the Andean region. While each participating country retains its own regulatory framework, joint initiatives are under way to harmonize various processes such as IPO (initial public offering) requirements, filings, custody and settlement.

Streamlined regulatory approach

As a TSX Venture Exchange-listed company, Cerro de Pasco benefits from the TSX-V passport listing process, which allows qualified issuers to fast-track secondary listings on approved exchanges such as the BVL. This process is designed to improve efficiency, reduce costs and accelerate time to market, all while maintaining robust disclosure and governance standards.

The BVL recognizes the TSX-V as an authorized market under its regulatory framework. As a result, Cerro de Pasco's listing will not create additional regulatory burdens. The company will continue to report under Canadian securities laws, leveraging its existing compliance structure to meet local requirements in Peru.

Market overview:

• NUAM Exchange: As of recent data, NUAM integrates the stock exchanges of Chile, Colombia and Peru with a combined market capitalization of approximately $476-billion (U.S.), making it the second-largest integrated equity market in South America.
• Lima Stock Exchange (BVL): The BVL hosts 275 listed companies, with a combined market capitalization of approximately $190.7-billion (U.S.), and a strong concentration in the mining and industrial sectors.

Role of Kallpa Securities

As Cerro de Pasco's designated sponsor, Kallpa will:

• Guide and support all regulatory and procedural requirements for the BVL listing;
• Serve as Cerro de Pasco's representative before Peruvian authorities and the exchange;
• Lead the company's marketing and investor outreach efforts in Peru, Chile and Colombia following the listing.

Executive commentary

"A listing on the BVL would enhance CDPR's visibility and trading liquidity, while opening the door for broader participation in the company's growth from Latin American institutional and retail investors, including Peruvian pension funds," said Guy Goulet, chief executive officer of Cerro de Pasco. "We view this as a natural step forward in aligning our capital markets presence with the region where our core operations and long-term vision are anchored."

Additional updates on the listing process will be provided as they become available.

About Cerro de Pasco Resources Inc.

Cerro de Pasco Resources is focused on the development of its principal 100-per-cent-owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open-pit and underground mine in central Peru. The company's strategy entails the reprocessing and environmental remediation of historic mining waste, unlocking value while supporting sustainable development. The asset represents one of the world's largest above-ground metal resources.

We seek Safe Harbor.