Cerrado Gold - Management

Mark Brennan

Chief Executive Officer & Chairman

Mark Brennan is CEO and Chairman and a founding partner of Cerrado Gold. He was also a founding partner and officer of Ascendant Resources Inc. and Voyager Metals. Mr. Brennan has more than 30 years of financial and operating experience in the Americas and Europe. Mr. Brennan most recently served as president and CEO of Sierra Metals Inc., a major zinc-lead-silver-copper mining company with operations in Peru and Mexico. Prior to that, he was the president and CEO of Largo Resources Ltd., and a founder of several resource companies, including Desert Sun Mining, Brasoil Corp., James Bay Resources, Morumbi Oil and Gas, and Admiral Bay Resources.

Cliff Hale-Sanders, MBA, CFA

President

Mr. Hale-Sanders is President of Cerrado Gold and one of its founding partners. In addition, he was one of the founding partners in the formation of Ascendant Resources Inc. and CEO of Voyager Metals. Prior to this, Mr. Hale-Sanders had a career spanning over 20 years in the capital markets industry, working as a leading base metals and bulk commodities research analyst in Canada at RBC Capital Markets, TD Securities, CIBC World Markets, and Cormark Securities. During this period, Mr. Hale-Sanders visited and reviewed numerous mining operations and corporate entities worldwide. Mr. Hale-Sanders holds a B.Sc. in Geology and Chemistry, an MBA from McMaster University, and is a CFA Charterholder.

Jason Brooks, CPA, CA

Chief Financial Officer

Mr. Brooks is a Chartered Professional Accountant with over 28 years of experience in finance and accounting at international mining companies. Prior to joining Cerrado Gold, he was Vice President, Finance of Caldas Gold until it was acquired by Aris Gold. Prior to his time at Caldas, Mr. Brooks served in progressively senior roles at several international mining companies, including Golden Star Resources, New Gold, and Barrick Gold.

Casper Groenewald

Chief Operating Officer

Mr. Groenewald is a qualified metallurgist and has over 20 years of mineral processing experience in Africa and the Americas. He was the Senior Vice-President of DRA America and former Technical Director for Largo Resources where he led the commissioning and optimization of its Vanadium processing facility in Brazil. He is the former Operations director at Minopex, where he managed the operation of five diamond mines, and has also worked for Vantech (Xstrata’s Vanadium division), Highveld Steel and Vanadium Corporation.

Andrew Croal, MBA, P.Eng.

Chief Technical Officer

Mr. Croal is a Mining Engineer with 40 years of global mining experience in gold and base metal commodities. He is a versatile and practical mining professional with a proven track record of providing fit for purpose, workable solutions. His competence ranges to all aspects of mine planning, control, reporting and evaluation and combines technical expertise with safe operating requirements for all facets of the mining cycle. He has experience in Canada, South America, Africa, Australia and Papua New Guinea, having held senior roles in both Senior and Junior mining firms. He was a key member of several mine-building teams, most notably Rosebel (Iamgold), Detour Gold and Buzwagi (Barrick Gold). Andrew is a Professional Engineer in Ontario and has a BSc Mining Engineering from Queen’s and an MBA from the University of Toronto.

Ed Guimaraes

Executive Vice President

Mr. Guimaraes has over 30 years of experience in the mining industry, most recently in an executive advisory capacity and through several board directorships. His career spans a broad range of base and precious metals producers, having supported the development, expansion, and ongoing operations of copper, zinc, lead, gold, and silver mines in Canada, Chile, Peru, Mexico and Argentina. Mr. Guimaraes previously acted as the Chief Financial Officer at Sierra Metals between 2014 and 2023, and he was with Aur Resources between 1995 and 2007, ultimately serving as Executive Vice-President, Finance and Chief Financial Officer, until its acquisition by Teck Resources in 2007 for US$4.1 billion. Prior to 1995, he worked in the Toronto mining group of PricewaterhouseCoopers. Mr. Guimaraes is a Chartered Professional Accountant (CPA, CA), a graduate of the ICD-Rotman Directors Education Program (ICD.D) and holds a Bachelor of Arts in Administrative and Commercial Studies from Western University.

Carl Calandra, LL.B., MBA

Vice President, General Counsel & Corporate Secretary

Mr. Calandra is a legal executive with more than 20 years of advisory, deal-making and public company experience. Prior to joining Cerrado, Mr. Calandra was Vice President and General Counsel of Dundee Corporation, a Canadian investment company focused on mining, and was an associate at a top-tier Canadian national law firm. Carl holds a Bachelor of Laws from the University of Western Ontario and a Master of Business Administration from the Ivey Business School. Carl has been a member of the Law Society of Ontario since 2006.

Veronica Nohara

CEO, Minera Don Nicolas

Mrs. Veronica Nohara is an international business professional with more than 20 years experience in executive positions across various industries. Prior to joining Cerrado Veronica was Chief Executive Officer for Minera Don Nicolas and was instrumental in the successful start-up and operation of the gold facility. Veronica has a long history managing and directing businesses in different industries in Argentina, Uruguay, Brazil, Chile, Paraguay and Japan. Veronica has served on different chambers such as ABC (Argentine Beef Consortium), AFARTE, CAEM and is Honorary Director of Women in Mining. She is currently the President of the Chamber of Mining for the Province of Santa Cruz).Veronica holds a Bachelors Degree in international trade from Universidad Argentina de la Empresa, a Posgrade in International Business and a Master of Business Administration from University Torcuato Di Tella.

Joao Barros

President Europe

Mr. Barros has over 18 years of mining experience including green fields and near mine exploration, environmental impact studies for open pit and underground mine operations as well as mine development and operations. Mr. Barros was responsible for licensing the underground gold mine operation from exploration to development, for Minaport-Minas de Portugal, Lda, and the planning and execution of the exploration and licensing for Blackheath Resources (TXS: BHR), Borralha EML tungsten project. Mr. Barros is the President of Redcorp – Empreendimentos Mineiros, Lda., and has been with that company since 2008, responsible for managing, coordinating and executing the exploration works in the Lagoa Salgada VMS Project. Mr. Barros is also a Member of the Portuguese Engineers Association.

Alonso Lujan

Vice President, Exploration

Mr. Lujan has over 34 years of international experience in mineral exploration with a positive track record for increasing companies' resources, output, and company value. He joined Cerrado as a consultant in February 2025 and is now the Vice President of Exploration. Most recently he spent eight years with Sierra Metals as their Vice President of Exploration where he was successful at significantly expanding the mineral resources by 25 million ounces of silver and 300 million pounds of copper at their mines and as the General Manager for the company’s Mexican Operations where he successfully expanded production and lowered AISC at the mines. Before that, he spent six years with Matsa-Trafigura as the General Manager where he significantly helped to increase the value of the company from US$300 million to US$1.6 billion by successfully discovering and commissioning 50 million tonnes of mineral resources in less than two years, and doubling production to from 2.2 to 4.6 million tonnes per year. Prior to that, he worked with Hochschild Mining and Minas de Bacis SA de CV, where he helped to increase production at the mine.

David Ball

Vice President, Business Development

Mr. Ball was most recently Chief Financial Officer of Santiago Metals Limitada, a private Chilean based copper producer and portfolio company of US Private Equity group, Denham Capital. Prior to his current role he held several positions at Macquarie Capital, an Australian Investment Bank During his career in the metals and mining sector, Mr. Ball has been actively involved in M&A, corporate advisory and fund raising of both equity and debt Mr. Ball brings mining focused operational and capital markets experience from Australia, South East Asia and North South America Mr. Ball holds a Bachelor of Commerce with Distinction (Curtin University) and a Masters of Finance (INSEAD).

Mike McAllister, CPIR

Vice President, Investor Relations

Mike McAllister has over 19 years of experience working with public mining companies, the last 12 as a mining specialized investor relations professional. He most recently was with Superior Gold and prior to that Sierra Metals where he helped the company complete the dual US listing progress and helped see the company progress from a small to a mid-tier diversified producer. Mr. McAllister also has worked at Avion Gold Corp., which was acquired by Endeavour Mining. Before working in investor relations roles, he worked at BMO Capital Markets in the Metals & Mining Group. Mike holds the Certified Professional Investor Relations (CPIR) designation completed at the Ivey School of Business, University of Western Ontario

TSXV: CERT

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