CERRADO GOLD INC - CRDOF STOCK NEWS

Cerrado Gold Inc. has commenced loading ore onto the heap leaching pad at its Las Calandrias project in Santa Cruz, Argentina. Leaching is anticipated to start within 10 days, with gold production expected by early June 2023. The project aims to produce 25,000 ounces of gold annually, enhancing the company's capacity. A second heap leach project at Martinetas is planned, with production starting in early 2024 and an additional 20,000 ounces per year. These initiatives are expected to lower costs and improve cash flow. The CEO emphasized the importance of maintaining growth through these projects, which are aligned with Cerrado's strategic objectives for its Argentinian operations.

Cerrado Gold Inc. (CRDOF) reported a strong performance for Q1 2023, achieving 13,951 Gold Equivalent Ounces (GEO) production, aligned with expectations. The Gold production reached 13,794 ounces, increasing from 13,499 ounces in Q1 2022. GEO sales also grew to 16,255 ounces compared to 15,044 ounces in the prior year. Operating highlights included stable mill throughput exceeding 1,000 tonnes per day and improved gold head grades of 4.59 g/t with recoveries at 91.9%. The Las Calandrias heap leach project is on track for its first gold pour in Q2 2023. Full financial results are expected on June 8, 2023.