CERRADO GOLD INC - CRDOF STOCK NEWS

Cerrado Gold Inc. (OTCQX: CRDOF) reported a strong performance for Q4 and the full year 2022, showcasing a 23% annual increase in gold equivalent ounces (GEO) production to 53,672 from 43,559 in 2021. Q4 production reached 17,360 GEO, reflecting a 13% year-on-year improvement.

Financially, Q4 adjusted EBITDA was $7.3 million, up 76% from 2021, with an annual EBITDA of $20.7 million. The all-in sustaining costs (AISC) per ounce decreased 10% to $1,231, demonstrating operational efficiency.

Looking ahead, Cerrado anticipates gold production of 60,000 - 70,000 GEO in 2023, driven by additional projects like Las Calandrias, expected to add 25,000 - 30,000 ounces in production.

Cerrado Gold Inc. (OTCQX:CRDOF) has announced the strengthening of its operational team ahead of construction at the Monte do Carmo project in Brazil, anticipated to begin later this year. Key appointments include Antonio Peixoto as Director of Operations, Mauricio Coletti as Chief Mining Engineer, and Mauro De Silva as Chief Processing Engineer. Together, they bring decades of mining experience from previous roles in notable companies. CEO Mark Brennan expressed confidence in the team's ability to efficiently bring the mine into production by early 2025, aiming for a successful operation.

Cerrado Gold has appointed Mr. Michael McAllister as Vice President of Investor Relations and Mr. Chris MacInnis as Director of Geology and Resources. McAllister brings over 19 years of experience, enhancing Cerrado's investor relations, while MacInnis has significant expertise in resource geology, having previously contributed to GoldSpot Discoveries. CEO Mark Brennan expressed confidence that their additions will support the company's growth in gold production in Argentina and expedite the Monte Do Carmo gold project's progression towards a Bankable Feasibility by May's end. Cerrado aims to maximize asset value while advancing its development projects in Argentina and Brazil.

Cerrado Gold Inc. (CRDOF) has announced a definitive agreement to acquire Voyager Metals Inc. in a strategic move to enhance its project portfolio. The acquisition of Voyager's Mont Sorcier Iron and Vanadium project will provide Cerrado with a 100% interest in a long-life, economically robust asset, projected to generate US$235 million in annual free cash flow over its 21-year lifespan. The Exchange Ratio values Voyager shares at C$0.1523, representing a 16.8% premium. The deal is expected to create a mid-tier company with significant synergies and improved market capitalization once assets are operational.

Cerrado Gold Inc. (OTCQX:CRDOF) announced the progress of its gold heap leach project at the Las Calandrias deposit in Argentina. The first gold pour is scheduled for late May 2023, with all environmental permits secured. Metallurgical testing shows promising recoveries, with designs to extend mine life by including primary ore resources. The company's strategy aims to increase production from 53,672 oz in 2022 to 90,000 oz per annum. Additionally, the feasibility study for the Monte do Carmo project in Brazil is on track for completion by May, suggesting robust economics and low operating costs.

Cerrado Gold Inc. (OTCQX: CRDOF) has amended its metals purchase and sale agreement with Sprott Private Resource Streaming and Royalty, expanding the stream area to include the Las Calandrias heap leach project, with production set to start in Q2 2023. The amendment includes an additional US$10 million in funding, increasing the principal amount to US$25 million. The deposit is expected on March 7, 2023, subject to certain conditions. CEO Mark Brennan highlighted the importance of this funding for boosting gold production capacity from 50,000 oz to 90,000 oz by mid-2024. Additionally, Stephen Shefsky has resigned as a director to pursue other opportunities.

Cerrado Gold Inc. has released final assay results from its 2022 drill program at the Serra Alta deposit, Monte do Carmo Project in Brazil. Notable results include drill hole FSA-290 with 15m at 5.79 Au g/t and FSA-314 with 17m at 2.87 g/t Au. The drill program comprised 193 holes totaling 48,842 meters, aimed at upgrading resources and supporting an ongoing Feasibility Study. The company has also initiated a 2023 exploration campaign, with the first hole, FNE-01, showing visible gold 500m northeast of known mineralization. The updated resource estimates are expected in Q2 2023.

Cerrado Gold Inc. (OTCQX: CRDOF) has appointed Clinton Swemmer as Chief Technical Officer, reflecting his vital contributions to the company's mining operations in Argentina and Brazil. Swemmer, with over 20 years of experience, previously served as Vice President of Technical Services. Alongside, Erich Meintjes joins as Director of Engineering to bolster engineering efforts for ongoing projects. The company aims to reduce project timelines and costs by enhancing internal capabilities. Cerrado continues advancing its gold projects, including the Minera Don Nicolás mine and the Monte do Carmo project, which boasts indicated resources of 541 kozs of gold.

Cerrado Gold announced the completion of a 48,842m drilling program at its Monte do Carmo Project in Brazil, expected to enhance resources for an upcoming Feasibility Study slated for completion by May 2023. The infill drilling program successfully upgraded the majority of resources into Measured and Indicated categories, while new extensional zones and condemned areas were identified. The company is also preparing a 23,000m exploration program targeting potential new deposits. Notable drill results include 11m at 5.39 g/t Au and 25m at 19.01 g/t Au, showcasing the area's rich mineralization. Full assay results are anticipated in February.