Cerrado Gold Inc. Begins Underground Operations at its Minera Don Nicolas Mine

Published: 2025-06-12 07:50:45 ET CERT.V

Published on 06/12/2025 at 07:50

Cerrado Gold Inc. provided an update on the development of the Company's inaugural underground operation commencing underneath the high-grade Paloma pit at its Minera Don Nicolas Mine in Argentina ("MDN"). Earlier this week, the Company completed the initial blast to begin construction of the underground portal and progress the development of the underground mine over the coming months. The initial decline will be driven through the ore body and will provide nominal feed to the carbon in leach ("CIL") plant.

Production from the underground is expected to ramp-up to reach steady state production by October this year. Additionally, the Company has now mobilized the initial drill rig to commence the previously announced 20,000 metre exploration drill program at MDN. The primary focus will be near surface, high-grade deposits that can provide feed to the CIL plant as well as expanding potential resources in and around the Las Calandrias heap leach project to add both high grade and heap leachable material.

Underground drilling at Paloma will commence once the underground exploration platforms have been established. The scientific and technical information in this PR has been reviewed and approved by Andrew Croal, P.Eng., Chief Technical Officer for Cerrado Gold, who is a Qualified Person as defined in National Instrument 43-101.