All matters presented for shareholder approval were approved

TORONTO, ON / ACCESSWIRE / July 19, 2023 / Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") is pleased to announce that at its Annual and Special Meeting of Shareholders ("Meeting") held earlier today all matters presented to shareholders were approved. Details of the voting results are set out below.

Meeting Voting Results

A total of 33,633,502 common shares were voted at the Meeting, representing 34.67% of the votes attached to all outstanding common shares of the Company. All matters presented for shareholder approval at the Meeting were duly authorized and approved as follows.

Election of Directors

The shareholders elected each of the nine nominees listed in the Company's Management Proxy Circular. Details of the voting results are as follows:

Appointment of Auditor

KPMG LLP was appointed auditor of the Corporation and the directors of the Corporation were authorized to fix the auditor's remuneration. Details of the voting results are as follows:

Amended and Restated Omnibus Incentive Plan

A ballot was conducted with respect to the Amended and Restated Omnibus Incentive Plan of the Corporation. According to the proxies received and ballots cast by disinterested shareholders, the resolution to approve the Amended and Restated Omnibus Incentive Plan of the Corporation was approved.

Grant of Stock Options

A ballot was conducted with respect to ratifying a previous grant of stock options issued pursuant to the Omnibus Incentive Plan of the Corporation in connection with the acquisition of Voyager Metals Inc. According to the proxies received and ballots cast by disinterested shareholders, the resolution to approve the Amended and Restated Omnibus Incentive Plan of the Corporation was approved.

About Cerrado

Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects in South America. The Company is the 100% owner of both the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina, and the highly prospective Monte Do Carmo development project, located in Tocantins State, Brazil. In Canada, Cerrado Gold is developing it's 100% owned Mont Sorcier Iron Ore and Vanadium project located outside of Chibougamou, Quebec.

In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias Heap Leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.

In Brazil, Cerrado is rapidly advancing the Serra Alta deposit at its Monte Do Carmo Project, through feasibility and into production. Serra Alta is expected to be a high-margin and high-return project with significant exploration potential on an extensive and highly prospective 82,542 hectare land package.

In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron Ore and Vanadium Project, which has the potential to produce a premium iron ore concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high grade and high purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces contributing to the decarbonisation of the industry and the achievement of SDG goals.

For more information about Cerrado please visit our website at: .

For further information, contact:

Mark Brennan
CEO and Chairman

Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
mmcallister@cerradogold.com

SOURCE: Cerrado Gold Inc.