TSX:V CERT $0.28 1.85%

OTCMKTS: CRDOF $0.19 -5.00%

Spot Gold: $2,384.00 0.42%

Cerrado Gold Reports Additional Results From the Infill Program at the Serra Alta Deposit at Its Monte Do Carmo Project in Brazil

Sep 20, 2022

  • Notable results in all three deposit zones (East Zone, Pit Norte, and Pit Sul) include:
  • FSA-246: 42m at 1.88 g/t Au from 145m;
  • FSA-246: 18m at 7.21 g/t Au from 482m;
  • FSA-264: 20m at 3.86 g/t Au from 102; and
  • FSA-266: 33m at 2.58 g/t Au from 57m;

TORONTO, ON / ACCESSWIRE / September 20, 2022 / Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) (“Cerrado” or the “Company”) is pleased to announce additional assay results from its ongoing infill drill program at the Serra Alta deposit at its Monte do Carmo Project located in Tocantins State, Brazil (“MDC”). The infill drill program commenced in Q4 2021 with the aim to upgrade resources into the Measured and Indicated categories, target new satellites, extensional zones, condemn areas of project infrastructure and support the ongoing Feasibility Study. This phase of drilling is expected to be completed early in Q4, 2022.

The Company is currently reporting assay results from 21 drill holes, totaling 4,081 m (see Tables 1 & 2) completed from April to July 2022. As of August 26, 2022, a total of 130 drill holes, totaling 31,815m have been completed as part of the 2022 program, including 109 holes at Serra Alta (infill, condemnation, and partial extensions); and 21 holes in the satellite exploration areas namely, Gogó de Onça and Capitao.

The Company currently has 5 drill rigs on site actively drilling, with three rigs focused on infill and geotechnical programs and two actively drilling at Gogó de Onça.

Drill Hole Highlights (All composites are reported as true thickness):

Serra Alta (Infill)

FSA-246

  • 42m at 1.88 g/t Au from 145m
    • Including 5m at 4.87 g/t Au from 168m
  • 18m at 7.21 g/t Au from 482
    • Including 4m at 21.43 g/t Au from 492m

FSA-254

  • 15m at 3.71 g/t Au from 138m
    • Including 2m at 25.68 g/t Au from 140m

FSA-264

  • 20m at 3.86 g/t Au from 102m
    • Including 3m at 14.07 g/t Au from 107m
  • 9m at 7.24 g/t Au from 148m
    • Including 1m at 55.30 g/t Au from 150m

FSA-271

  • 28m at 2.13 g/t at 13.78 g/t Au from 44m
  • 43m at 1.40 g/t Au from 114m
    • Including 3m at 7.74 g/t Au from 119m

FSA-252

  • 53m at 1.61 g/t Au from 75m
    • Including 3m at 9.51 g/t Au from 92m

FSA-262

  • 70m at 2.30 g/t Au from 41m
    • Including 2m at 20.83 g/t Au from 90m

FSA-266

  • 33m at 2.58 g/t Au from 57m
    • Including 6m at 10.81 g/t Au from 63m

Mark Brennan, CEO and Co-Chairman commented “We are nearing completion of the Infill drilling campaign at Serra Alta, providing the resource base for the ongoing Feasibility expected to be completed by the end of Q1 2023. As can be seen by the holes reported today, the Serra Alta deposit at Monte do Carmo continues to show itself as a well endowed gold deposit with plenty of exploration potential.”

Serra Alta Infill

The main objective of the 21 infill drill holes reported today is to convert inferred blocks within and in close proximity, to the current open pit constrained resource estimate (Micon, 2021) into the Indicated category, closing the distance between holes informing blocks in the model. Some of these holes were extended beyond the current resource outline to test prospective extensional areas. Holes reported today include, 11 collared in the East Zone, 3 in Pit Norte and 7 in Pit Sul (see Figure 1 for drill hole locations, and Figure 2 for cross sections of highlighted holes).

Drill holes FSA-246, FSA-254, FSA-258, FSA-260, FSA-261, FSA-264, FSA-265, FSA-267, FSA-268, FSA-269 and FSA-271 were collared in the East Zone. The best reported intercepts in the East Zone correspond to holes FSA-246 and FSA-264 which were collared in the central and southern segment of the approximate 400m of strike that comprises the East Zone. Hole FSA-246 was drilled at a very shallow angle (19 degree) to optimize the perpendicularity to the quartz veins (single and as vein domain trend) and to efficiently determine the continuity of these veins at a proximal level to the hosting granite and its contact with the volcanic rocks (loci of best lateral continuity of mineralization). Hole FSA-264, collared in the southern segment of the east zone intercepted two outstanding segments: a shallower one with 20m at 3.86 g/t Au from 102m, including 3m at 14.07 g/t Au from 107m; and a deeper one with 9m at 7.24 g/t Au from 148m, including 1m at 55.30 g/t Au from 150m.

Drill holes FSA-252, FSA-257, and FSA-263 were collared in Pit Norte. Hole FSA-252, drilled in the northern segment of this zone intercepted a laterally extensive continuous zone that in the previous geological model (current resource) encompassed three narrow discrete vein trends separated by barren granitic gaps. The notable continuity points to the validity of possible “mushroom” shapes in some areas, where mineralization blossoms towards the granitic/volcanic contact. The continuous interval referred above returned 53m at 1.61g/t Au from 75m, including 3m at 9.51 g/t Au from 92m. Drill holes FSA-194, FSA-201, FSA-259, FSA-262, FSA-266, FSA270 and FSA-271 were collared in Pit Sul covering the full 200m strike length of this zone. Most relevant results are included in hole FSA-262, collared in the middle of the zone which crossed 70m at 2.30 g/t Au from 241 m, including 2m at 14.35 g/t Au from 45m. Hole FSA-262 reaffirms the lateral continuity of shallow mineralization in Pit Sul, which under the current PEA is to be part of the early mining phases.

Figure 1. Reported and Ongoing Drill Hole Locations

Cerrado Gold Inc., Monday, September 19, 2022, Press release picture

Figure 2. Select Highlighted Cross Sections of Reported Holes*

East Zone

Cerrado Gold Inc., Monday, September 19, 2022, Press release picture

Pit Norte

Cerrado Gold Inc., Monday, September 19, 2022, Press release picture

Pit Sud

Cerrado Gold Inc., Monday, September 19, 2022, Press release picture

Note: Scale vary by section

Table 2. Drill Hole locations

Zone Hole number UTM East

m

UTM N

m

Elevation m Depth m Azimuth Dip
East Zone FSA-246 820544 8810447 555.1 589.2 103 -19
FSA-254 820568 8810372 552.1 230.6 137 -53
FSA-258 820592 8810276 566.9 170.3 133 -45
FSA-260 820602 8810301 578.8 185.5 130 -23
FSA-261 820488 8810413 537.3 218.4 110 -56
FSA-264 820592 8810279 567.1 231.0 106 -45
FSA-265 820521 8810186 479.3 85.9 102 -20
FSA-267 820507 8810244 508.4 134.9 125 -30
FSA-268 820800 8810485 658.5 550.1 98 -50
FSA-269 820518 8810186 479.3 87.0 127 -48
FSA-271 820601 8810326 579.5 220.6 126 -24
Pit Norte FSA-252 820506 8810090 499.4 198.9 104 -43
FSA-257 820500 8810068 504.8 193.3 132 -55
FSA-263 820394 8810035 453.5 109.4 90 -31
Pit Sul FSA-194 820283 8809633 452.7 178.2 101 -45
FSA-201 820329 8809687 482.7 180.6 98 -35
FSA-259 820312 8809602 466.1 145.5 89 -52
FSA-262 820335 8809631 472.7 125.2 96 -20
FSA-266 820304 8809574 470.3 120.7 97 -45
FSA-270 820325 8809662 478.7 55.1 141 -44
FSA-273 820326 8809686 481.9 70.2 135 -19

*Collar coordinates by GNSS TP-20 UTM Coordinates, Datum: SAD69 / zone 22S.
*Azimuth Set by compass
*Dip and drill hole trajectory by DEVIFLEX Devico

Table 2. Drill Hole Composites – Infill Drilling

DDH From To LENGTH (m) True Width (m) Au (g/t)
East Zone FSA-246 and 53.70 62.10 8.40 8.34 1.29
FSA-246 and 79.44 85.75 6.31 6.26 0.86
FSA-246 and 144.75 187.15 42.40 42.09 1.88
FSA-246 includes 157.63 160.90 3.27 3.25 6.07
FSA-246 includes 168.06 173.31 5.25 5.21 4.87
FSA-246 and 200.05 201.09 1.04 1.03 0.59
FSA-246 and 214.61 215.66 1.05 1.04 0.37
FSA-246 and 216.70 217.75 1.05 1.04 0.41
FSA-246 and 229.49 230.50 1.01 1.00 0.44
FSA-246 and 278.10 279.10 1.00 0.99 0.88
FSA-246 and 296.00 297.00 1.00 0.99 0.38
FSA-246 and 312.30 313.43 1.13 1.12 0.41
FSA-246 and 343.27 346.46 3.19 3.17 0.63
FSA-246 and 351.67 353.76 2.09 2.07 2.35
FSA-246 and 374.71 375.82 1.11 1.10 0.36
FSA-246 and 379.00 380.00 1.00 0.99 0.40
FSA-246 and 402.35 404.22 1.87 1.86 19.72
FSA-246 and 448.70 451.80 3.10 3.08 0.83
FSA-246 and 463.95 469.38 5.43 5.39 1.17
FSA-246 and 481.58 499.70 18.12 17.99 7.21
FSA-246 includes 491.92 496.21 4.29 4.26 21.43
FSA-246 and 529.50 533.50 4.00 3.97 1.09
FSA-246 and 546.00 549.40 3.40 3.38 1.22
FSA-254 and 6.85 11.07 4.22 3.15 0.51
FSA-254 and 16.32 26.82 10.50 7.83 1.60
FSA-254 and 28.82 29.81 0.99 0.74 0.32
FSA-254 and 88.71 91.72 3.01 2.24 0.73
FSA-254 and 94.82 95.85 1.03 0.77 0.71
FSA-254 and 103.38 106.50 3.12 2.33 1.15
FSA-254 and 109.55 110.62 1.07 0.80 0.35
FSA-254 and 123.70 125.75 2.05 1.53 0.53
FSA-254 and 137.50 157.36 19.86 14.81 3.71
FSA-254 includes 139.65 141.75 2.10 1.57 25.68
FSA-254 includes 156.28 157.36 1.08 0.81 6.77
FSA-254 and 161.45 162.49 1.04 0.78 0.56
FSA-254 and 177.83 178.88 1.05 0.78 0.77
FSA-254 and 182.83 184.95 2.12 1.58 1.04
FSA-258 and 17.02 20.85 3.83 3.40 0.65
FSA-258 and 26.17 27.24 1.07 0.95 0.50
FSA-258 and 30.35 31.39 1.04 0.92 0.52
FSA-258 and 33.55 34.53 0.98 0.87 0.32
FSA-258 and 42.50 69.71 27.21 24.18 0.94
FSA-258 includes 42.50 45.42 2.92 2.59 2.43
FSA-258 includes 68.65 69.71 1.06 0.94 4.61
FSA-258 and 89.44 114.02 24.58 21.84 0.68
FSA-258 includes 93.60 95.75 2.15 1.91 2.01
FSA-258 and 119.37 120.47 1.10 0.98 0.78
FSA-258 and 123.45 124.49 1.04 0.92 0.37
FSA-258 and 136.26 139.46 3.20 2.84 1.10
FSA-258 and 145.75 155.13 9.38 8.33 5.71
FSA-258 includes 148.80 149.95 1.15 1.02 36.10
FSA-258 and 158.90 159.97 1.07 0.95 2.26
FSA-260 124.29 147.89 23.60 18.46 2.98
FSA-260 includes 127.47 128.47 1.00 0.78 5.07
FSA-260 includes 140.42 147.89 7.47 5.84 7.91
FSA-261 and 12.35 13.45 1.10 0.95 0.31
FSA-261 and 95.04 96.12 1.08 0.94 0.49
FSA-261 and 101.71 102.89 1.18 1.02 0.37
FSA-261 and 107.12 113.76 6.64 5.76 0.79
FSA-261 includes 111.47 112.52 1.05 0.91 3.87
FSA-261 and 128.16 130.29 2.13 1.85 0.62
FSA-264 and 29.57 45.70 16.13 15.83 1.78
FSA-264 includes 36.04 40.40 4.36 4.28 3.16
FSA-264 and 52.37 56.53 4.16 4.08 0.49
FSA-264 and 67.53 77.28 9.75 9.57 2.05
FSA-264 includes 72.85 73.91 1.06 1.04 14.25
FSA-264 and 94.41 95.43 1.02 1.00 0.91
FSA-264 and 101.90 121.90 20.00 19.62 3.86
FSA-264 includes 107.21 110.40 3.19 3.13 14.07
FSA-264 includes 118.77 119.83 1.06 1.04 14.65
FSA-264 and 127.23 128.29 1.06 1.04 0.33
FSA-264 and 129.29 130.38 1.09 1.07 0.35
FSA-264 and 133.49 134.56 1.07 1.05 0.32
FSA-264 and 147.92 157.18 9.26 9.09 7.24
FSA-264 includes 149.94 151.02 1.08 1.06 55.30
FSA-264 and 166.80 178.44 11.64 11.42 0.83
FSA-264 and 182.56 186.70 4.14 4.06 3.52
FSA-264 and 191.94 192.95 1.01 0.99 1.30
FSA-264 and 197.85 199.84 1.99 1.95 6.97
FSA-264 and 207.00 208.05 1.05 1.03 25.40
FSA-265 and 5.80 8.78 2.98 2.65 0.92
FSA-267 and 16.23 17.25 1.02 0.91 0.72
FSA-267 and 45.48 46.48 1.00 0.90 1.63
FSA-267 and 51.70 56.00 4.30 3.86 1.12
FSA-267 and 62.61 63.64 1.03 0.92 1.98
FSA-267 and 75.32 95.25 19.93 17.87 1.13
FSA-267 includes 88.17 91.64 3.47 3.11 3.23
FSA-267 and 99.50 104.75 5.25 4.71 1.22
FSA-267 and 109.00 112.40 3.40 3.05 0.60
FSA-268 and 358.42 359.46 1.04 0.89 1.73
FSA-268 and 400.31 407.00 6.69 5.73 1.20
FSA-268 and 427.83 431.05 3.22 2.76 0.36
FSA-268 and 461.15 463.58 2.43 2.08 0.91
FSA-268 and 489.16 490.26 1.10 0.94 0.46
FSA-269 and 1.97 3.67 1.70 1.62 1.39
FSA-269 and 10.00 11.20 1.20 1.14 0.41
FSA-269 and 46.09 47.20 1.11 1.06 0.50
FSA-271 and 43.00 81.32 38.32 28.25 2.13
FSA-271 includes 43.99 47.00 3.01 2.94 13.78
FSA-271 includes 57.60 59.51 1.91 1.86 5.19
FSA-271 includes 72.85 76.00 3.15 3.07 3.16
FSA-271 and 107.54 108.61 1.07 1.04 2.10
FSA-271 and 113.91 158.26 44.35 43.27 1.40
FSA-271 includes 119.13 122.28 3.15 3.07 7.74
FSA-271 includes 142.79 144.88 2.09 2.04 4.49
FSA-271 includes 155.04 157.13 2.09 2.04 3.50
FSA-271 and 164.34 166.90 2.56 2.50 0.78
FSA-271 and 171.00 171.80 0.80 0.78 0.31
FSA-271 and 182.65 183.70 1.05 1.02 0.45
FSA-271 and 184.70 185.60 0.90 0.88 0.40
Pit Norte FSA-252 40.80 43.30 2.50 2.38 3.32
FSA-252 and 50.93 64.38 13.45 12.81 0.30
FSA-252 and 67.53 70.38 2.85 2.71 2.58
FSA-252 and 75.17 131.28 56.11 53.45 1.61
FSA-252 includes 81.54 86.93 5.39 5.13 1.97
FSA-252 includes 91.50 94.82 3.32 3.16 9.51
FSA-252 includes 113.89 116.10 2.21 2.11 8.24
FSA-252 includes 125.73 128.06 2.33 2.22 4.08
FSA-252 and 140.44 145.92 5.48 5.22 0.49
FSA-252 and 148.10 150.22 2.12 2.02 0.35
FSA-257 and 65.86 74.85 8.99 8.79 5.14
FSA-257 includes 69.31 70.24 0.93 0.91 22.00
FSA-257 includes 73.48 74.85 1.37 1.34 14.75
FSA-257 and 78.04 79.10 1.06 1.04 0.42
FSA-257 and 95.16 96.26 1.10 1.08 0.57
FSA-257 and 101.74 104.77 3.03 2.96 1.85
FSA-257 includes 101.74 102.84 1.10 1.08 4.74
FSA-257 and 109.87 110.99 1.12 1.09 0.81
FSA-257 and 146.45 152.62 6.17 6.03 0.37
FSA-263 and 3.77 5.36 1.59 1.57 0.47
FSA-263 and 9.98 27.91 17.93 17.70 0.41
FSA-263 and 77.59 78.71 1.12 1.11 0.33
FSA-263 and 91.28 92.37 1.09 1.08 0.38
FSA-263 and 99.41 100.43 1.02 1.01 1.04
Pit Sul FSA-194 and 10.54 22.18 11.64 11.13 2.58
FSA-194 includes 11.65 14.83 3.18 3.04 6.70
FSA-194 and 25.35 26.40 1.05 1.00 0.68
FSA-194 and 28.52 29.58 1.06 1.01 0.47
FSA-194 and 31.70 33.65 1.95 1.86 0.30
FSA-194 and 36.67 40.67 4.00 3.82 1.11
FSA-194 includes 39.67 40.67 1.00 0.96 3.03
FSA-194 and 64.96 88.65 23.69 22.65 0.66
FSA-194 includes 64.96 66.10 1.14 1.09 4.54
FSA-194 includes 83.55 84.60 1.05 1.00 5.17
FSA-201 and 16.05 17.09 1.04 0.98 0.61
FSA-201 and 19.09 20.09 1.00 0.94 0.54
FSA-201 and 23.20 24.25 1.05 0.99 1.68
FSA-201 and 32.07 37.10 5.03 4.72 0.57
FSA-201 and 41.07 57.98 16.91 15.87 0.46
FSA-201 includes 43.07 44.03 0.96 0.90 2.07
FSA-201 and 106.00 114.38 8.38 7.87 1.80
FSA-201 includes 109.90 112.14 2.24 2.10 5.54
FSA-201 and 123.15 124.17 1.02 0.96 0.78
FSA-201 and 167.98 170.04 2.06 1.93 0.55
FSA-259 and 1.13 39.18 38.05 36.12 1.00
FSA-259 includes 4.00 5.00 1.00 0.95 7.08
FSA-259 includes 10.00 11.04 1.04 0.99 12.55
FSA-259 includes 34.75 35.80 1.05 1.00 3.15
FSA-259 and 52.13 55.37 3.24 3.08 0.57
FSA-259 and 60.58 70.80 10.22 9.70 2.46
FSA-259 includes 60.58 61.60 1.02 0.97 7.52
FSA-259 includes 65.70 66.70 1.00 0.95 16.25
FSA-259 and 77.90 78.90 1.00 0.95 0.39
FSA-259 and 85.45 89.85 4.40 4.18 0.47
FSA-259 and 100.35 101.35 1.00 0.95 0.36
FSA-262 and 3.20 8.88 5.68 5.63 0.42
FSA-262 and 40.80 111.27 70.47 69.84 2.30
FSA-262 includes 45.15 47.45 2.30 2.28 14.35
FSA-262 includes 77.20 80.20 3.00 2.97 4.95
FSA-262 includes 90.10 92.16 2.06 2.04 20.83
FSA-262 includes 110.24 111.27 1.03 1.02 6.22
FSA-266 and 0.74 2.17 1.43 1.28 4.41
FSA-266 and 10.45 13.80 3.35 2.99 1.81
FSA-266 and 16.85 18.93 2.08 1.86 0.38
FSA-266 and 34.20 41.59 7.39 6.60 0.54
FSA-266 and 47.50 52.69 5.19 4.64 1.89
FSA-266 and 57.35 93.95 36.60 32.70 2.58
FSA-266 includes 63.16 69.39 6.23 5.57 10.81
FSA-266 includes 87.95 91.95 4.00 3.57 4.05
FSA-266 and 107.40 108.30 0.90 0.80 1.57
FSA-270 and 30.85 33.95 3.10 2.29 0.89
FSA-270 and 42.18 45.40 3.22 2.37 0.47
FSA-270 and 49.04 49.95 0.91 0.67 0.52
FSA-273 and 18.87 19.95 1.08 0.86 1.63
FSA-273 and 22.94 27.09 4.15 3.32 0.81
FSA-273 and 42.78 43.78 1.00 0.80 0.45
FSA-273 and 53.60 61.01 7.41 5.93 1.50
FSA-273 includes 53.60 54.64 1.04 0.83 9.44
FSA-273 and 67.00 69.06 2.06 1.65 1.23

The Company is also pleased to announce that it has granted an aggregate of 1,987,500 incentive stock options to certain, directors, officers and other eligible participants under its amended and restated omnibus incentive plan. The options are exercisable, subject to vesting provisions, over a period of five years at a price of $1.10 per share. The Company has also granted a total of 820,000 Deferred Share Units to non-executive directors and 1,397,500 Restricted Share Units (“RSUs”) to executives and management. The RSUs are subject to vesting provisions.

Quality Assurance and Quality Control

Analytical work was carried out by ALS international lab (ALS). MDC send half core samples for sample preparation to the lab. The facilities of the prep lab are located in Goiânia, Brazil 835 km from the MDC project and alternatively in Belo Horizonte, Brazil 1,110 Km from the MDC project. MDC sends out samples to ALS international labs (ALS) with the prep lab located in Goiânia or alternatively in Belo Horizonte. ALS lab sends the prepared aliquots for analytical assay to their lab in Lima, Peru where the prepared samples are systematically analyzed for gold (ppm) by fire assay (Au-AA24) or gold (ppm) by metallic screen (Au-SCR24). Randomly the ICP (Inductively coupled plasma mass spectrometry) is done for trace elements in 4 acids (hydrofluoric, perchloric, nitric and hydrochloric) digestion (ME-MS-61). ALS has routine quality control procedures which ensure that every batch of samples includes three sample repeats and at least two commercial standards and two blanks. Cerrado uses standard QA/QC procedures, inserting reference standards and blanks, for the drilling program. The Reference material used are from CDN Resource Laboratories Ltd., ITAK (Instituto de Tecnologia August Kekulé Ltda. and OREAS).

Review of Technical Information

The scientific and technical information in this press release has been reviewed and approved by Sergio Gelcich, P.Geo., Vice President, Exploration for Cerrado Gold Inc., who is a Qualified Person as defined in National Instrument 43-101.

Mark Brennan
CEO and Co Chairman
Tel: +1-647-796-0023
[email protected]

David Ball
Vice President, Corporate Development
Tel.: +1-647-796-0068
[email protected]

About Cerrado

Cerrado is a Toronto based gold production, development and exploration company focused on gold projects in the Americas. The Company is the 100% owner of both the producing Minera Don Nicolás mine in Santa Cruz province, Argentina, and the highly prospective development project, Monte Do Carmo located in Tocantins State, Brazil.

At Minera Don Nicolas, Cerrado is maximising asset value through further operation optimization and continued production growth. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package.

At Monte Do Carmo, Cerrado is rapidly advancing the Serra Alta deposit through Feasibility and production. The Serra Alta deposit Indicated Resources of 541 kozs of contained gold and Inferred Resources of 780 kozs of contained gold. The Preliminary Economic Assessment demonstrates robust economics as well as the potential to be one of the industry’s lowest cost producers. Cerrado also holds an extensive and highly prospective 82,542 ha land package at Monte Do Carmo.

For more information about Cerrado please visit our website at: www.cerradogold.com.

Disclaimer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation, all statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado. In making the forward- looking statements contained in this press release, Cerrado has made certain assumptions, including, but not limited to continuing progress of the Feasibility Study and infill drilling at MDC. Although Cerrado believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

SOURCE: Cerrado Gold Inc.