Cerrado Gold Appoints Alonso Lujan as Vice President Exploration

Rhea-AI Summary

Cerrado Gold (CRDOF) has appointed Alonso Lujan as Vice President Exploration, effective June 1, 2025. Lujan brings over 34 years of international mineral exploration experience with significant achievements in resource discovery and production expansion. At Sierra Metals, he led mineral resource expansion adding 25M oz silver and 300M lbs copper. At Matsa-Trafigura, he discovered 50M tonnes of additional mineral resources and doubled production from 2.2M to 4.6M tonnes yearly, increasing operation value from $300M to $1.6B. His expertise will be crucial for Cerrado's 20,000-metre drill program at Minera Don Nicolas and the development of the Lagoa Salgada VMS project.

Positive

• Appointment of highly experienced executive with 34 years in mineral exploration
• New VP's track record includes adding 25M oz silver and 300M lbs copper at Sierra Metals
• Previous success in doubling production and increasing operation value by $1.3B at Matsa-Trafigura
• Strategic timing with upcoming 20,000-metre drill program at Minera Don Nicolas

Negative

• None.

• Proven track record of discovery, resource and production expansion

• Demonstrated success in both the Deseado Massif and the Iberian Pyrite Belt

TORONTO, ON / ACCESS Newswire / June 4, 2025 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF)(FRA:BAI0) ("Cerrado" or the "Company") is pleased to announce the appointment of Mr. Alonso Lujan to the position of Vice President Exploration effective June 1, 2025. Mr. Lujan has over 34 years of international experience in mineral exploration with a proven track record for discovery, resource and production expansion. After joining Cerrado as a consultant in February 2025, Mr. Lujan has now been appointed Vice President of Exploration.

Most recently Mr. Lujan spent eight years with Sierra Metals ("Sierra") as Vice President Exploration where he led the significant expansion of the mineral resources across their mines by 25 million ounces of silver and 300 million pounds of copper. As the General Manager for Sierra's Mexican operations, he successfully expanded production and lowered the All-In-Sustaining-Cost ("AISC"). Prior to Sierra, he spent six years with Matsa-Trafigura as the General Manager where he led the discovery of 50 million tonnes of additional mineral resources in less than two years, and doubled production from 2.2 to 4.6 million tonnes per year, which led to the growth in value of the operation from US$300 million to US$1.6 billion. Prior to that, he worked with Hochschild Mining and Minas de Bacis SA de CV, in the Deseado Massiff, where his exploration and operational expertise led to increased production.

Mark Brennan, Executive Chairman, commented: "On behalf of the Board and Management teams, I would like to welcome Alonso to the team. He is a proven professional with a strong history of finding and expanding mineral resources and increasing production output. His experience in the Deseado Massif has provided a new perspective for a well planned and solid exploration program for the current 20,000 metre drill program about to begin at Minera Don Nicolas. The primary objective of the drill program is to add additional resources to extend the mine life at MDN. Additionally, his strong experience and record while working in the Iberian Pyrite Bet, will benefit the Company by potentially assisting in increasing the resource base and improving output as we continue to advance and develop the Lagoa Salgada VMS project."

About Cerrado

Cerrado Gold is a Toronto-based gold production, development, and exploration company. The Company is the 100% owner of the gold 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 high purity Iron oreb project located outside of Chibougamou, Quebec.

In Argentina, Cerrado is maximizing the asset value at its Minera Don Nicolas operation through continued operational optimization, cost reductions 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 is focused on the 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 - low cost, 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 high quality 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.

This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. There is no assurance that the exploratory drill program will be successful or that any additional resources exist or will be discovered.

Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado.

SOURCE: Cerrado Gold Inc.

View the original press release on ACCESS Newswire

FAQ

Who is Alonso Lujan and what is his new role at Cerrado Gold (CRDOF)?

Alonso Lujan is the newly appointed Vice President Exploration at Cerrado Gold, effective June 1, 2025. He brings over 34 years of international mineral exploration experience.

What are Alonso Lujan's major achievements in his previous roles?

At Sierra Metals, he added 25M oz silver and 300M lbs copper to mineral resources. At Matsa-Trafigura, he discovered 50M tonnes of additional resources and doubled production from 2.2M to 4.6M tonnes yearly, increasing operation value from $300M to $1.6B.

What are Cerrado Gold's (CRDOF) immediate exploration plans?

Cerrado Gold is planning a 20,000-metre drill program at Minera Don Nicolas, with the primary objective of adding additional resources to extend the mine life.

What experience does Alonso Lujan have in Cerrado Gold's key regions?

Lujan has demonstrated success in both the Deseado Massif and the Iberian Pyrite Belt, which are relevant to Cerrado's Minera Don Nicolas and Lagoa Salgada VMS projects respectively.

How long has Alonso Lujan been associated with Cerrado Gold?

Lujan joined Cerrado Gold as a consultant in February 2025 before being appointed as Vice President Exploration in June 2025.