Cerrado Gold Announces Successful Production of High Purity Iron Concentrates at Mont Sorcier

TORONTO, ON, March 1, 2024 – Cerrado Gold Inc. reveals the positive outcome of metallurgical tests from its Mont Sorcier project in Quebec, confirming its capability to produce Direct Reduction Iron (DRI) Grade iron concentrates with high purity. With silica and alumina levels below 2.5%, these concentrates offer a greener alternative for steel production, potentially reducing the industry's carbon footprint significantly.

The testing, conducted by Soutex Inc. and SGS Canada, marks an initial step towards the feasibility study for Mont Sorcier, aiming for high purity 67% iron concentrates. The project, utilizing Quebec's hydroelectric resources, underscores the mining sector's shift towards sustainable practices. This advancement could position Mont Sorcier as a critical contributor to the global 'Green Steel' market, which is on the rise due to mounting environmental concerns.

Findings from the testing not only exceeded previous expectations by achieving a 67% iron grade but also stressed the potential for low-emission steel production via electric arc furnaces. CEO Mark Brennan hailed the results, which align with the industry's broader goals of lowering emissions and favoring higher grade, environmentally friendly materials.

This development could greatly enhance the economics of the Mont Sorcier project, as work continues on optimizing processing methods and validating test results to refine production profiles. As demand for clean steel alternatives grows, Cerrado's project stands to benefit significantly, aligning with Quebec's strategic vision for mineral development and global emission reduction.