Driving Substantial Cash Flow with 
Limited Dilution

The Company owns the Minera Don Nicolas mine (“MDN”), located in Santa Cruz, Argentina, a producing high-grade gold mine with significant expansion and exploration potential. In Portugal Cerrado owns the Lagoa Salgada Project, the next low-cost VMS deposit with district scale discovery and exploration potential on Iberian Pyrite Belt. In Quebec, Canada the Company owns the Mont Sorcier Iron Ore and Vanadium Project (“MS”), a large magnetite resource capable of producing high grade concentrates to support the production of green steel.

MDN and Lagoa Salgada remain discovery assets anchored by strong production and exploration growth opportunities, Mont Sorcier is a world class iron ore project which has the benefit of available and underutilized infrastructure and access to low cost green hydro power.

Cerrado remains committed to expanding and enhancing all of these assets through continued production growth, exploration and derisking efforts to unlock the value of these assets for shareholders. Cerrado’s executive team has a long history of success developing numerous mining projects from early-stage exploration through development and into production in the Americas.