Cerrado Gold Granted Injunction on Its Lagoa Salgada Project in Portugal

Executive Summary

• Cerrado Gold’s wholly owned subsidiary, Redcorp, secured injunctive relief that suspends the effects of a negative opinion issued by the Portuguese Environmental Agency (APA) regarding the Lagoa Salgada project.
• The court decision ensures the Lagoa Salgada concession contract and PIN classification remain valid and in good standing while Redcorp’s legal action to overturn the APA opinion proceeds.
• Management expressed satisfaction with the ruling and reaffirmed its commitment to collaborating with Portuguese stakeholders to secure permitting and advance mine development.

Key Details

• Injunctive relief granted by a court suspends the legal effects of the Portuguese Environmental Agency (APA) opinion.
• Lagoa Salgada concession contract and PIN classification remain valid and in good standing pending the outcome of the ongoing legal challenge.
• Project Location & Scope: Lagoa Salgada VMS project, located on the Iberian Pyrite Belt in Portugal, approximately 80km from Lisbon with access to existing infrastructure.
• Concession Size: 7,209 hectares.
• Ownership: 80% interest held through Redcorp - Empreendimentos Mineiros, Lda.
• Mineralization: High-grade polymetallic VMS deposit containing zinc, copper, lead, tin, silver, and gold.
• Corporate Context: Cerrado also operates the Minera Don Nicolás and Las Calandrias mines in Argentina and is developing the 100% owned Mont Sorcier iron project in Quebec, Canada.

Notable Quotes

• Mark Brennan, CEO & Chairman: “We are pleased that the court has agreed with our position. The Company continues to work with relevant stakeholders in Portugal towards a resolution that would see the Lagoa Salgada mine permitted and built.”