Cerrado Gold Announces Successful Results of Annual and Special Meeting of Shareholders

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Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) Announces Shareholder Approval at Annual Meeting

All matters presented for shareholder approval were approved

TORONTO, ON / ACCESSWIRE / July 19, 2023 / Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") is pleased to announce that at its Annual and Special Meeting of Shareholders ("Meeting") held earlier today all matters presented to shareholders were approved. Details of the voting results are set out below.

Meeting Voting Results

A total of 33,633,502 common shares were voted at the Meeting, representing 34.67% of the votes attached to all outstanding common shares of the Company. All matters presented for shareholder approval at the Meeting were duly authorized and approved as follows.

Election of Directors

The shareholders elected each of the nine nominees listed in the Company's Management Proxy Circular. Details of the voting results are as follows:

Name	Votes For	%	Votes Withheld	%
Maria Virginia Anzola	29,581,824	99.949%	15,119	0.051%
Mark Brennan	29,595,432	99.995%	1,511	0.005%
Robert Campbell	29,595,432	99.995%	1,511	0.005%
Christopher Jones	29,595,490	99.995%	1,453	0.005%
Kurt Menchen	29,595,432	99.995%	1,511	0.005%
Elmer Prata Salomão	29,595,490	99.995%	1,453	0.005%
Jad Salomão	29,595,432	99.995%	1,511	0.005%
Robert Sellars	29,595,490	99.995%	1,453	0.005%

Appointment of Auditor

KPMG LLP was appointed auditor of the Corporation and the directors of the Corporation were authorized to fix the auditor's remuneration. Details of the voting results are as follows:

	Total Votes	% of Votes Cast
Votes in Favour	33,631,409	99.994%
Votes Withheld	2,093	0.006%
Total Votes Cast	33,633,502	100%

Amended and Restated Omnibus Incentive Plan

A ballot was conducted with respect to the Amended and Restated Omnibus Incentive Plan of the Corporation. According to the proxies received and ballots cast by disinterested shareholders, the resolution to approve the Amended and Restated Omnibus Incentive Plan of the Corporation was approved.

	Total Votes	% of Votes Cast
Votes in Favour	15,241,375	76.925%
Votes Against	4,571,940	23.075%
Total Votes Cast	19,813,315	100%

Grant of Stock Options

A ballot was conducted with respect to ratifying a previous grant of stock options issued pursuant to the Omnibus Incentive Plan of the Corporation in connection with the acquisition of Voyager Metals Inc. According to the proxies received and ballots cast by disinterested shareholders, the resolution to approve the Amended and Restated Omnibus Incentive Plan of the Corporation was approved.

	Total Votes	% of Votes Cast
Votes in Favour	15,775,867	77.531%
Votes Against	4,572,023	22.469%
Total Votes Cast	20,347,890	100%

About Cerrado

Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects in South America. The Company is the 100% owner of both the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina, and the highly prospective Monte Do Carmo development project, located in Tocantins State, Brazil. In Canada, Cerrado Gold is developing it's 100% owned Mont Sorcier Iron Ore and Vanadium project located outside of Chibougamou, Quebec.

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 ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.

In Brazil, Cerrado is rapidly advancing the Serra Alta deposit at its Monte Do Carmo Project, 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.

In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron Ore and Vanadium Project, which has the potential to produce a premium iron ore 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 decarbonisation of the industry and the achievement of SDG goals.

For more information about Cerrado please visit our website at: www.cerradogold.com.

For further information, contact:

Mark Brennan
CEO and Chairman

Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
mmcallister@cerradogold.com

SOURCE: Cerrado Gold Inc.

View source version on accesswire.com:
https://www.accesswire.com/769126/Cerrado-Gold-Announces-Successful-Results-of-Annual-and-Special-Meeting-of-Shareholders

FAQ

What was approved at Cerrado Gold Inc.'s Annual and Special Meeting of Shareholders?

All matters presented for shareholder approval at the Meeting, including the election of directors, appointment of auditor, Amended and Restated Omnibus Incentive Plan, and grant of stock options, were approved.

Who were the elected directors at the Meeting?

The elected directors at the Meeting included Maria Virginia Anzola, Mark Brennan, Robert Campbell, Christopher Jones, Kurt Menchen, Elmer Prata Salomão, Jad Salomão, and Robert Sellars.

Who was appointed as the auditor of Cerrado Gold Inc.?

KPMG LLP was appointed as the auditor of the Corporation.

What was the voting outcome for the Amended and Restated Omnibus Incentive Plan?

The resolution to approve the Amended and Restated Omnibus Incentive Plan of the Corporation was approved with 76.925% in favor and 23.075% against.

What was the result of the vote on the grant of stock options?

The resolution to approve the grant of stock options was approved with 77.531% in favor and 22.469% against.