Cerrado Gold reported strong production results for the second quarter ended June 2026 at its Minera Don Nicolas Mine in Santa Cruz Province, Argentina. The company produced 15,415 gold equivalent ounces (GEO) in Q2 2026, an increase from 13,835 GEO in Q2 2025. For the first six months of 2026, production totaled 28,257 GEO compared to 22,600 GEO in the same period of 2025. Full quarterly financial results are expected to be released prior to August 30, 2026.

Operating Performance

Heap leach production improved to deliver 9,981 GEO in the quarter, supported by addressed irrigation issues and benefits from crushing circuit improvements. The CIL plant processed a blend of stockpile material and underground ore, resulting in production of 5,434 GEO in Q2. Silver recovery rates showed marked improvement at the heap leach operations due to circuit adjustments, enhancing overall GEO production.

Underground development work continued during the quarter, with higher amounts of fresh ore becoming available towards the end of Q2. Additional ore is expected to be delivered in Q3 and Q4, supporting an expected increase in overall production levels in the latter half of the year compared with the first half of 2026. During 2026, underground ore operations will alternate between development activities and ore extraction as the underground workings follow the ore zone deeper under the Paloma pit.

Production Guidance and Outlook

Cerrado Gold maintained its annual production guidance of 50,000 to 60,000 GEO for 2026. The company plans to complete a new third-party, independent Preliminary Economic Assessment by Q1/2027. This assessment will incorporate resources anticipated to be outlined for both heap leach production and production via the CIL plant, with the objective of demonstrating growth in MDN’s mineral resource base, an extension in mine life, and increased production rates.

Key Operating Information

Exploration and Acquisition Strategy

Exploration work continued throughout the quarter across the existing property and in the newly acquired Falcon area. On-site sampling and mapping have been initiated at the newly acquired properties, and a drill program has been designed to commence in Q3/2026. The planned drill program is expected to add mineral resources to support the expansion of heap leach operations, with completion expected before year-end to support the PEA in Q1/27. Further regional consolidation remains a key corporate strategy.

Cerrado Gold Inc. announced that all matters presented at its Annual Meeting of Shareholders were overwhelmingly approved. A total of 21,228,165 common shares were voted at the meeting, representing 15.675% of the votes attached to all outstanding common shares of the company. The approval covers the election of directors and the appointment of the auditor.

Election of Directors

The shareholders elected each of the nominees listed in the company's Management Proxy Circular. The detailed voting results for the director elections are as follows:

Appointment of Auditor

McGovern Hurley LLP was appointed as the auditor of the corporation. The directors of the corporation were authorized to fix the auditor's remuneration. The voting results for the auditor appointment were:

Options Issuance

The company announced that it has issued 100,000 options to a consultant under its amended and restated omnibus incentive plan. These options have an exercise price of $1.79, will vest immediately, and are set to expire in two years.