Cerrado Gold Portfolio

Cerrado Gold Inc. is a TSX-V listed junior gold producer headquartered in Toronto with assets in Argentina, Portugal and Canada. The portfolio comprises the producing Minera Don Nicolas (MDN) gold and silver mine in Santa Cruz, Argentina (100% owned, only revenue-generating operation), the advanced-stage Lagoa Salgada polymetallic VMS development project in Portugal (80% via Ascendant acquired May 2025), and the Mont Sorcier high-purity magnetite iron development project in Quebec, Canada (100% via Voyager Metals). 2025 consolidated revenue of $147.1M from sale of 45,712 gold oz and 264,587 silver oz at avg realized $2,970/oz Au. Net loss of $20.4M (vs net income $25.4M in 2024). Adjusted EBITDA $46.2M. Cash $22.9M with working capital deficiency of $36.7M. Hedge program with Ocean Partners (2,000 oz/month zero-cost collar $3,100-$3,250) concluded January 2026.