Cerrado Gold Reports Strong Q3 Production Increase

TORONTO, Oct. 19, 2026 /CourierPR/ -- Cerrado Gold Inc., a Toronto-based gold production, development, and exploration company, reported strong production results for the third quarter of 2026. The company produced 16,685 Gold Equivalent Ounces (GEO) in Q3 2026, a 21% increase from the 13,832 GEO produced in the same period of 2025. Year-to-date, Cerrado Gold has produced 44,942 GEO, marking a 23% increase from the 36,432 GEO produced in the comparable period of 2025.

Heap leach production at the Minera Don Nicolas Mine (MDN) in Santa Cruz Province, Argentina, remained steady at 9,649 GEO in the quarter, similar to the 9,649 GEO produced in Q2 2026. However, CIL (carbon-in-leach) production increased significantly to 7,036 GEO in Q3, primarily driven by the selective routing of high-grade Calandrias feed to the Martinetas mill rather than the heap leach pad.

Cerrado Gold is now expecting full-year 2026 production to be at the upper end of its annual guidance range of 50,000 to 60,000 GEO. The company attributes this to the continued strong operational performance at MDN, with both CIL and heap leach operations performing exceptionally well. Higher gold prices have enabled the mine to incorporate additional low-grade material into the heap leach feed, improving resource utilization.

The focus on underground development continued during the quarter, with higher amounts of fresh feed becoming available toward the end of the quarter. Additional underground mineralized material is expected in Q4 2026, supporting increased production in the second half of 2026 compared to the first half. Underground operations continue to alternate between development and feed extraction as the workings follow the mineralized material zone deeper beneath the Paloma pit.

Cerrado Gold is also advancing its exploration program at MDN and in the recently acquired Falcon area. Sampling and mapping have been initiated, and diamond drilling has commenced in these new areas. The company expects to complete the drill program and associated testing before year-end to be included in the upcoming Preliminary Economic Assessment (PEA) expected by late Q1 2027. The PEA is intended to incorporate resources anticipated to be outlined for both heap leach production and production via the CIL plant, demonstrating the anticipated growth in MDN’s mineral resource base, the corresponding extension in mine life, and the potential to increase production rates.

In addition to its operations in Argentina, Cerrado Gold holds an 80% interest in the highly prospective Lagoa Salgada VMS project in Portugal, located on the prolific Iberian Pyrite Belt. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver, and gold. Extensive exploration upside potential lies both near the deposit and at prospective step-out targets across the large 7,209-hectare property concession. Located just 80km from Lisbon and surrounded by existing infrastructure, Lagoa Salgada offers a low-cost entry to a significant development and exploration opportunity, already showing its mineable scale and cash flow generation potential.