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Cerrado Gold Inc. [TSX.V:CERT][OTCQX:CRDOF] ("Cerrado" or the "Company") is pleased to announce the appointment of Mr. Chris MacInnis to the position of Vice President, Geology, effective immediately. Mr. MacInnis joined Cerrado as a Director of Geology and Resources in March 2023.
Mr. MacInnis is a professional Geologist with over 20 years of experience in mineral resource definition and exploration. Prior to joining Cerrado Gold, Mr. MacInnis was the head of the Mineral Resource division at GoldSpot, where he helped develop AI algorithms to leverage big data and identify new exploration targets for precious and critical minerals worldwide. Prior to that, he was with SRK Consulting as a Senior Geologist, co-authoring and contributing to dozens of 43-101 compliant reports on properties across the US, Canada and Mexico, and producing new resource estimations for many commodities, including narrow vein and stockwork gold, silver, copper, PGE's and base metals. Mr. MacInnis also worked at Datamine Canada, is a former elected Board Member for the Professional Geoscientists of Ontario and holds a BSc from St. Mary's University.
Mark Brennan, CEO and Chairman, commented: "On behalf of the Company's board of directors and management team, I am pleased to announce the appointment of Chris as Vice President, Geology. It is well earned. The depth of his experience and strong track record in exploration and resource definition speaks for itself. His experience will continue to support the Company as it continues to execute on its ongoing 50,000-meter surface and 20,000-meter underground drill programs underway at Minera Don Nicolas, as well as the infill drilling program planned at the Mont Sorcier project in Quebec."
In addition, the Company has issued 325,000 restricted share units ("RSUs") to eligible participants under the Company's amended & restated omnibus incentive plan. The RSUs shall vest in 12 months. Once vested, each RSU represents the right to receive one common share of the Company.
About Cerrado
Cerrado Gold is a Toronto-based gold production, development, and exploration company. The Company is the 100% owner of the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina. In Portugal, the Company holds an 80% interest in the highly prospective Lagoa Salgada VMS project through its position in Redcorp - Empreendimentos Mineiros, Lda. In Canada, Cerrado Gold is developing its 100% owned Mont Sorcier Iron project located outside of Chibougamau, Quebec.
In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias heap leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Massif.
In Portugal, Cerrado focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver, and gold. Extensive exploration upside potential lies both near the deposit and at prospective step-out targets across the large 7,209-hectare property concession. Located just 80km from Lisbon and surrounded by existing infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity, already showing its mineable scale and cash flow generation potential.
In Canada, Cerrado is developing its 100%-owned Mont Sorcier high-purity, high-grade Direct Reduced Iron project, located on the traditional Cree territory of Eeyou Istchee James Bay in the municipality of Chibougamau. The Mont Sorcier high-purity, high-grade DRI Iron project has the potential to produce a premium iron concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high-grade and high-purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of sustainable development goals.
For more information about Cerrado, please visit our website at: www.cerradogold.com. Â
Mark Brennan                       Â
CEO and Chairman       Â
Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
mmcallister@cerradogold.com                Â
Disclaimer
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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. There is no assurance that the exploratory drill program will be successful or that any additional resources exist or will be discovered.
Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado.
