First gold pour at Las Calandrias heap leap project scheduled for end of June

Las Calandrias expected to reach full production capacity during Q3 2023

MDC (Brazil) Feasibility Study well advanced and preparations for construction initiated

TORONTO, ON / ACCESSWIRE / June 15, 2023 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") is pleased to announce that it has initiated the leaching process at its initial heap leach project at the Las Calandrias area in Argentina. Mining operations have reached a rate of approximately 10,000 tpd, feeding the pad at a rate of 5,000 tpd. Carbon loading has begun and the first gold pour is expected by the end of this month.

As previously announced, the Las Calandrias project is expected to provide additional gold production in Argentina during the second half of this year. Las Calandrias and additional heap leach projects are expected to help lower unit costs per ounce by providing additional economies of scale. The Company expects to reach full production rates from Las Calandrias during Q3 this year.

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