Cerrado Gold Files NI 43-101 Report for Minera Don Nicolas Mine

Cerrado Gold Inc. has released the Preliminary Economic Assessment (PEA) and updated Mineral Resource Estimate (MRE) for its Minera Don Nicolas mine in Santa Cruz, Argentina. Based on a gold price of $2,100 per ounce, the after-tax NPV5% is estimated at $111 million, potentially increasing to $153 million at spot prices.

The mine is projected to average an annual production of approximately 56,000 Gold Equivalent Ounces (GEO) over its five-year mine life starting April 2024. With average annual EBITDA at $49 million, the life-of-mine (LOM) Free Cash Flow (FCF) stands at $25 million, increasing to $34 million at spot prices.

Cerrado highlights no material upfront capital expenditures are needed. Operating costs are projected with average cash costs of $866 per ounce and an all-in sustaining cost (AISC) of $1,148 per ounce. The revised MRE comprises 490,000 ounces of Measured and Indicated resources and 121,150 ounces of Inferred resources.