CERRADO GOLD INC - CRDOF STOCK NEWS

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.

Cerrado Gold has announced an additional US$4 million in unsecured promissory notes, bringing the total financing to US$8 million. The funds will support development at the Calandrias Heap Leach Project in Argentina, with the first gold pour targeted for April 2023. The notes carry a range of interest rates, with some maturing as soon as late 2023 and early 2024. The company plans to repay these notes through cash flows or further financing, aiming to facilitate the project's rapid development.

Cerrado Gold Inc. (OTCQX: CRDOF) reported its Q3 2022 results, producing 11,284 Gold Equivalent Ounces. The AISC rose to $1,494 per ounce, influenced by increased stripping and labor costs, but is expected to decrease in Q4. Adjusted EBITDA stood at $0.7 million, reflecting higher operational costs. Revenue for Q3 was $17.8 million, down from Q2's $20.3 million, attributed to lower gold prices. The company received a permit for heap leach construction at the Calandrias Project as it continues exploration efforts in Brazil.

Cerrado Gold Inc. (OTCQX: CRDOF) announced a financing initiative involving US$10-12 million in promissory notes, starting with a US$2 million unsecured note from an Argentinian fund. The proceeds will support the ongoing development of the Calandrias Heap Leach Project in Argentina, with plans for the first gold pour targeted for April 2023. The initial promissory note has a maturity of 60 days and a 5% interest rate, with the possibility of rolling into a longer-term note.

Cerrado Gold Inc. (OTCQX: CRDOF) announced its Q3 2022 production results, yielding 11,284 GEO ounces of gold, a decline from 11,640 ounces in Q2. The average gold grade increased by 28% to 4.40g/t. The company reaffirms its annual production guidance of 45,000 - 55,000 GEO ounces for 2022, with Q4 production projected to exceed 13,000 ounces. Additionally, construction of the Calandrias heap leach project is set to begin in Q4, expected to boost annual production by 20,000-25,000 ounces.

Cerrado Gold has announced updates on its Las Calandrias heap leach project in Argentina, with first gold production expected in Q2 2023. This project aims to boost production rates to approximately 90,000 ounces per annum with an All In Sustaining Cost (AISC) below $1,000 per ounce by 2024. Key project milestones include completed engineering work, advanced permitting, and a budget of around $25 million for development. The heap leach facility is designed for a capacity of 2 million tonnes per annum and aims for a recovery rate of 67% from Oxide and Transitional material.

Cerrado Gold reported promising results from its Gogó da Onça exploration project in Brazil, indicating over 250m of shallow mineralization. Notable drill results include:

• FGO-004: 25.1m at 3.38 g/t Au
• FGO-005: 2.7m at 12.74 g/t Au
• FGO-008: 12.5m at 3.39 g/t Au
• FGO-012: 11.7m at 5.37 g/t Au

The ongoing infill drilling aims to integrate these findings into the Feasibility Study scheduled for Q1 2023.

Cerrado Gold announced notable drilling results from its Serra Alta deposit within the Monte do Carmo Project in Brazil as of September 20, 2022. The infill drilling campaign aims to upgrade resources and support a feasibility study expected by Q1 2023. Highlighted results include 42m at 1.88 g/t Au and 18m at 7.21 g/t Au from drill hole FSA-246, among others. The program has so far completed 130 drill holes totaling 31,815m, with five rigs actively drilling. The company also granted stock options and share units to directors and executives.