Cerrado Gold Update: Updated PEK Scoping Study

December 14 2018

Dear All,


We have recently updated the PEK scoping study (Independent but non NI 41-101 compliant) to incorporate the new NI 43-101 compliant Resources Report completed by Micon International Ltd.


We are thrilled to see a significant increase in the Net Present Value to US$195 million and an IRR of 36.4% even at this very early stage.


Also, very significantly we see an AISC (All in costs) of $516 per ounce mined which puts Cerrado potentially at the very lowest of cost ranges of global gold producers.


See below the highlights of the new economics and attached the worksheets supporting the data.


Attached also is an updated presentation that includes Cerrado’s latest information.


Thanks very much again for your support.

Link to report