Cerro de Pasco Resources talks 2025 work at Quiulacocha

Executive Summary

• Cerro de Pasco Resources provided a comprehensive operational review of its Quiulacocha tailings project, highlighting the completion of Phase 1 technical, environmental, and regulatory workstreams.
• The company successfully completed a Phase 1 bulk-sampling program in December 2025, collecting approximately 12.3 tonnes of tailings material for laboratory analysis to support metallurgical testing and flow sheet development.
• The company announced the granting of 10.6 million stock options to directors, officers, employees, and consultants, and entered into a new consulting agreement for strategic advisory services.

Key Details

• Project Status: The company has consolidated principal technical, environmental, and regulatory workstreams for the Quiulacocha project, reducing execution risk and strengthening the permitting foundation for the El Metalurgista concession.
• Technical Readiness: Completed integrated Phase 1 programs including mineralogy, metallurgy, rheology, geotechnical and hydrogeological studies, subsidence assessment, and validation of drill spacing/resource modeling methodologies.
• Logistics: Preliminary logistics and transportation studies were completed, evaluating concentrate handling, storage, and regional transport options (road, rail, pipeline).
• Environmental Baseline: Environmental/geochemical baseline programs were completed across wet and dry seasons at more than 60 locations. Preliminary geotechnical and hydrogeological studies were finalized to enable stability modeling and Phase 2 drilling design.
• Permitting: Closed the declaracion de impacto ambiental for Phase 1 drilling and submitted the application for Phase 2 drilling within the existing easement area of the El Metalurgista concession.
• Community Relations: Executed a surface-use agreement with the Community of Quiulacocha to secure access for future technical activities.
• Bulk Sampling:
  • Dates: December 16–19, 2025.
  • Activity: Shallow excavation to obtain fresh and representative tailings material.
  • Volume: Approximately 12.3 tonnes of raw bulk material collected.
  • Next Steps: Material transported to Lima under frozen conditions for laboratory chemical analysis and metallurgical testing to support flow sheet development and scale-up studies.
• Corporate Governance (Options):
  • Quantity: Aggregate of 10.6 million stock options granted.
  • Recipients: Directors, officers, employees, and consultants.
  • Exercise Price: 68 cents per common share.
  • Term: Two or five years from December 16, 2025.
  • Vesting: Options granted to consultants vest over a 12-month period.
• Consulting Agreement:
  • Counterparty: 1473632 B.C. Ltd. (Vancouver-based, independent arm's-length firm).
  • Date: November 17, 2025.
  • Services: Strategic advisory and business development services.
  • Consideration: $25,000 per quarter for an initial term of one year (total $100,000).
  • Extension: May continue on a month-to-month basis by mutual written agreement.
• Qualified Person: Alfonso Palacio Castilla, MIMMM/CEng, Senior Project Manager, reviewed and approved the technical information in compliance with National Instrument 43-101.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.