Cerro de Pasco earns $24.6M (U.S.) in fiscal 2025

Mr. Guy Goulet reports CERRO DE PASCO RESOURCES REPORTS 2025 FISCAL YEAR-END FINANCIAL RESULTS AND STRATEGIC MILESTONES Cerro de Pasco Resources Inc. has released its audited financial results for the year ended March 31, 2025. The company significantly strengthened its financial position following the strategic realignment from the sale of non-core assets, resulting in net income of $24.6-million for the year. Cerro de Pasco is now well capitalized and strongly positioned to advance its world-class Quiulacocha tailings project. Fiscal 2025 highlights (all figures in United States dollars) Net income of $24.6-million compared with a net loss of $29.3-million for the 15-month period ended March 31, 2024. Earnings per share (basic and diluted) of six cents, versus a loss of nine cents per share in the prior period. Cash balance of $11.5-million, with positive working capital of $6.3-million (versus a $55.0-million deficit in the prior period). Shareholders' equity of $6.7-million, a reversal from a $40.8-million deficit. $35.9-million gain on the sale of Santander, allowing Cerro de Pasco to streamline operations and focus on Quiulacocha. Significant liability reduction, including full settlement of the convertible debenture and promissory note. CEO (chief executive officer) commentary "The past year marks a turning point for Cerro de Pasco Resources," said Guy Goulet, CEO. "With the sale of the Santander mine, we have removed significant liabilities from our balance sheet and sharpened our strategic focus on advancing our world-class Quiulacocha tailings project. The company is now well capitalized and strongly positioned to execute on the next phase of development." Strategic and operational developments Sale of non-core assets: In August, 2024, Cerro de Pasco completed the sale of its Santander mine operations, eliminating over $70-million in associated liabilities and realigning the company's strategy around the Quiulacocha tailings project. Strengthened capital structure: The company raised over $17-million through private placements and benefited from continued warrant and option exercises, improving liquidity and shareholder alignment. Advancing project development: In May, 2024, Cerro de Pasco signed an easement agreement with Activos Mineros SAC, enabling engineering and a 40-hole drilling program at Quiulacocha, supported by a $1-million payment to the Peruvian National Bank. Subsequent to year-end: Between April and July, 2025, 17,009,580 warrants and 400,000 stock options were exercised, generating approximately $4.1-million in additional proceeds. Outlook Cerro de Pasco is actively advancing technical, environmental and further permitting activities at Quiulacocha, with a focus on delivering its preliminary feasibility study (PFS) and unlocking near-term development milestones. About Cerro de Pasco Resources Inc. Cerro de Pasco Resources is focused on the development of its principal 100-per-cent-owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit and underground mine in central Peru. The company's strategy entails the reprocessing and environmental remediation of historic mining waste, unlocking value while supporting sustainable development. The asset represents one of the world's largest above-ground metal resources. We seek Safe Harbor.