Cerrado Gold Completes Sale of Monte Do Carmo Project

Cerrado Gold Inc. has finalized the sale of its Monte Do Carmo gold project located in Tocantins, Brazil, to Amarillo Mineração do Brasil Ltda., a subsidiary of Hochschild Mining PLC. The transaction delivers Cerrado a total consideration of US$60 million, with US$30 million received at closing and an earlier US$15 million received for option rights.

According to the agreement, Amarillo will make two additional payments to Cerrado amounting to US$15 million. These include a US$10 million payment within 14 days following June 27, 2026, and a US$5 million payment contingent upon the start of commercial production or by March 31, 2027.

These future payments are secured by Hochschild, ensuring Cerrado future remuneration as stipulated in the agreement. Details of the transaction are available in Cerrado's press releases and management information circular.