Cerrado Gold Announces Filing of Circular and Provides Update

Cerrado Gold Inc. has filed proxy related materials in preparation for its annual and special meeting of shareholders, scheduled for June 27, 2024. The materials, including a notice and management information circular, are accessible on SEDAR+ for shareholders of record as of May 22, 2024.

The company also expects to file its audited annual financial statements for the year ended December 31, 2023, this week. This step is crucial for receiving the third advance of US$7 million from its subsidiary of Hochschild Mining PLC, Amarillo Mineração do Brasil Ltda. The funds will address immediate obligations and corporate general and administrative expenses.

Furthermore, Cerrado has granted Amarillo the option to purchase a 100% interest in its Monte Do Carmo project in Brazil for US$60 million, subject to certain conditions. The completion of this advance will total US$15 million initially advanced to Cerrado through a 10% interest-bearing secured loan.