Cerrado Gold Announces Resignation of a Director

Rhea-AI Summary

Cerrado Gold (OTCQX:CRDOF) announced that Robert Campbell resigned from the company's board of directors effective October 10, 2025 because he intends to retire.

The company quoted Chairman and CEO Mark Brennan thanking Mr. Campbell for a long, successful 20‑year contribution and wishing him a happy retirement. Management and the board expressed appreciation for his valuable contributions. No replacement, board succession plan, or financial impact was disclosed.

TORONTO, Oct. 10, 2025 (GLOBE NEWSWIRE) -- Cerrado Gold Inc. [TSX.V:CERT][OTCQX:CRDOF; FRA:BAI0] (“Cerrado” or the “Company”) announces the resignation of Mr. Robert Campbell from its board of directors effective today. Mr. Campbell has tendered his resignation from the Cerrado board as he intends to retire.

Mark Brennan, Chairman and CEO stated, “We have had a long and successful journey as a team over the past 20 years, we are sorry to see him go but wish him a very happy retirement.”

The Company’s management and board of directors thanks Mr.  Campbell for his valuable contributions and wishes him well.

About Cerrado

Cerrado Gold is a Toronto-based gold production, development, and exploration company. The Company is the 100% owner of the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina. In Portugal, the Company holds an 80% interest in the highly prospective Lagoa Salgada VMS project through its position in Redcorp - Empreendimentos Mineiros, Lda. In Canada, Cerrado Gold is developing its 100% owned Mont Sorcier Iron 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 Portugal, Cerrado focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. 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 deposit and at prospective step-out targets across the large 7,209-hectare property concession. Located just 80km from Lisbon and surrounded by exceptional infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity, already showing its mineable scale and cashflow generation potential.

In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron project, which has the potential to produce a premium iron 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 decarbonization of the industry and the achievement of sustainable development goals.

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

Mark Brennan                        
CEO and Chairman        

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

Disclaimer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

FAQ

When did Robert Campbell resign from Cerrado Gold's board (CRDOF)?

Robert Campbell's resignation was effective on October 10, 2025.

Why did Robert Campbell resign from Cerrado Gold (CRDOF)?

He tendered his resignation because he intends to retire.

Did Cerrado Gold (CRDOF) name a replacement director for Robert Campbell?

No replacement or succession plan was announced in the release.

What did Cerrado Gold management say about Robert Campbell's departure?

Chairman and CEO Mark Brennan thanked him for a 20‑year contribution and wished him a happy retirement.

Does Robert Campbell's resignation affect Cerrado Gold's financial guidance or operations (CRDOF)?

The announcement did not disclose any financial guidance change or operational impact.

How can investors get more information about Cerrado Gold (CRDOF) director changes?

Investors should consult the company's investor relations or future regulatory filings for updates on board changes.