Cerrado Gold Announces Second Quarter 2026 Financial Results

TORONTO, Aug. 18, 2026 (GLOBE NEWSWIRE) — Cerrado Gold Inc. [TSX.V:CERT][OTCQX:CRDOF; FRA:BAI0] (“ Cerrado ” or the “ Company ”) announces its operational and financial results for the second quarter ended June 30, 2026 (“Q2/26”), including its Minera Don Nicolas (“ MDN ”) gold mine in Santa Cruz Province, Argentina, its Lagoa Salgada Polymetallic Project in Portugal, and its Mont Sorcier High Purity DRI Iron Project in Quebec.

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Production results for MDN were previously released on July 13, 2026. The Company’s financial results are reported and available on SEDAR+ (www.sedarplus.com) and the Company’s website ( www.cerradogold.com ).

Operational results for Q2 2026 continued the trend of increasing production relative to the previous quarters. Production rates increased at the heap leach operations versus the previous quarter as irrigation issues subsided and more crushed material was placed on the heap leach pads, benefiting from recent improvements in the crushing circuit. As more water for irrigation becomes available, all the gold inventory placed on the pad earlier should be recovered over time. Average gold recovery rates remained lower than expected due to the mix of primary ore placed on the leach pads due to mine sequencing, while silver recoveries improved significantly versus the prior quarter. CIL production remained steady, supporting overall production levels. Unit costs per ounce of gold sold were $1,933/oz Au, an increase compared to the prior year primarily as a result of the initial effect of cost-cutting measures and increased labor costs in Argentina.

The focus on underground development continued during the quarter, which reduced the ore available for immediate processing, but increased development will allow access to greater amounts of ore in future quarters and is expected to lift production and improve head grades to the plant over the balance of the year. During 2026, underground ore operations are expected to follow a cycle of development and then ore extraction, as the underground workings follow the ore zone deeper under the current pit.