Cerrado Gold Announces Tacit Approval of Environmental Impact Assessment for the Lagoa Salgada Project, Portugal

Executive Summary

• Cerrado Gold announces that the Portuguese Environmental Impact Assessment (EIA) for its Lagoa Salgada Project is deemed tacitly approved after the statutory deadline passed without a formal decision.
• The tacit approval enables the Company to move into the Final Execution Project and Environmental Compliance Report (RECAPE) phase, advancing the permitting process toward eventual development.
• Cerrado will seek formal certification of this tacit approval, though acknowledges that the Portuguese Environmental Agency’s final opinion remains uncertain.

Key Details

• Under Decree‑Law no. 151‑B/2013 (as amended), the Portuguese Environmental Agency (APA) must issue an Environmental Impact Declaration (DIA) within a set deadline after a reformulated project submission.
• The deadline elapsed without APA issuing a decision, resulting in “deferimento tácito” – tacit approval of the EIA for the Lagoa Salgada Project submitted on 8 Nov 2025.
• Cerrado interprets this as de‑facto environmental approval, allowing progression to the RECAPE phase and preparation of final execution plans.
• The Company will request formal certification of the tacit approval to further solidify its permitting status.
• APA’s ultimate opinion remains pending; there is no guarantee that APA will not object or issue an unfavorable view despite the lapse in the statutory period.
• CEO Mark Brennan emphasized that the milestone provides procedural certainty and enables continued stakeholder engagement while respecting environmental standards.

Notable Quotes

“The tacit approval of the Lagoa Salgada EIA reflects the operation of a legal framework designed to ensure procedural certainty and proportionality… The DIA is a milestone which allows the Project to progress into the execution phase (RECAPE).” – Mark Brennan, CEO & Chairman