CERRADO GOLD INC - CRDOF STOCK NEWS

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.

Cerrado Gold Inc. (OTCQX: CRDOF) announced Q4 2022 production results from its Minera Don Nicolas Mine, reporting 17,360 Gold Equivalent Ounces (GEO), a 54% increase compared to Q3 2022. Full-year production reached 53,672 GEO, surpassing guidance of 45-55,000 GEO. Gold head grades improved significantly to 5.83 g/t, and recoveries rose to 94.9%. For 2023, production is guided at 60,000 - 70,000 GEO with an AISC of US$1,100-1,300 per ounce. Construction of the Las Calandrias heap leach is on track for a first gold pour in late Q2 2023. The company continues to focus on growth initiatives at the mine.

Cerrado Gold has announced the latest results from its infill drilling program at the Serra Alta deposit in Brazil's Monte do Carmo Project. Significant assays include FSA-276 yielding 30m at 4.47 g/t Au and FSA-298 with 26m at 1.31 g/t Au, including 1m at 14.15 g/t Au. The ongoing program, aimed at upgrading resource classifications and exploring new mineralized areas, is expected to conclude by December 2022, with a feasibility study to follow in Q2 2023. CEO Mark Brennan expressed optimism about identifying potential extensions and low-cost production opportunities.

Cerrado Gold Inc. (OTCQX:CRDOF) announced strong operational results from its Minera Don Nicolas mine, producing approximately 15,000 oz of gold in Q4 2022 and exceeding 50,000 oz for the full year. Heap leach construction at Las Calandrias has commenced, targeting first gold pour in April 2023. The Monte Do Carmo Feasibility Study is slightly delayed to incorporate new discoveries, but remains on track to establish one of the lowest cost gold producers. Key milestones for the Serra Alta deposit include a new mineral resource estimate expected in Q1 2023.