Cerrado Gold Receives US$8.75M Payment from Hochschild

US$8.75m received from Hochschild Mining Plc. ("Hochschild") as a prepayment of the US$10m obligation due July 2026

Funds strengthen balance sheet, support acceleration of growth initiatives

TORONTO, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Cerrado Gold Inc. [TSX.V:CERT](OTCQX:CRDOF, FRA:BAI0]) ("Cerrado" or the "Company") announces that it has received US$8.75 million from Amarillo Mineração Do Brasil Ltda, a wholly owned subsidiary of Hochschild Mining Plc ("Hochschild"), as a prepayment of the US$10 million receivable related to the sale of the Monte Do Carmo Gold project in Brazil.

Under the terms of the option agreement dated March 4, 2024, two payments remain outstanding following closing of the option exercise on November 6, 2024:

US$10 million, payable within 14 days of the second anniversary of the date Cerrado received shareholders' approval on June 27, 2024: and

US$5 million, payable within 14 days of the earlier of i) the commencement of commercial production from the MDC Project; and ii) March 31, 2027.

Mark Brennan, CEO and Chairman, commented, "This payment immediately strengthens our balance sheet and gives us greater flexibility to accelerate our growth initiatives. We are now well positioned to push forward on multiple fronts, from ongoing exploration and development at Minera Don Nicolás, completing the Optimized Feasibility Study at Lagoa Salgada and advancing the inaugural Bankable Feasibility Study at the Mont Sorcier high grade iron project. With stronger liquidity and a clear path to value creation, we're focused on driving the next phase of growth for our shareholders."

With this prepayment, Hochschild has now satisfied its obligation for the first US$10 million payment. The US$5 million obligation due in 2027 remains outstanding and due to Cerrado as detailed above.

About Cerrado ...