Cerrado Gold drills 3.38 g/t gold over 25.1 metres at Monte do Carmo, Brazil

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Cerrado Gold Inc. [CERT-TSXV; CRDOF-OTCQX] reported additional assay results from its Gogo Da Onca satellite exploration target, being drilled currently at the company’s Monte do Carmo (MDC) project, located in Tocantins state, Brazil.

Today the company is reporting 10 drill holes (see table in original company press release) exclusively from Gogo, a new satellite exploration target at MDC. As of September 1st, 2022, a total of 19 drill holes, totaling 4,050 metres have been completed at Gogo, with an additional 3 holes currently in progress. Assay results received to date outline a shallow mineralized North/Northwest corridor of approximately 250 metres in strike length, located less than 300 metres north of the Serra Alta PEA open pit. The company is rapidly progressing an infill campaign to bring this potential satellite pit into the feasibility study, expected to be completed by 1Q 2023.

Drill Hole Highlights (All composites are reported as true thickness): FGO-004 returned 25.1 metres at 3.38 g/t gold from 56.5 metres, including 6.5 metres at 6.20 g/t gold from 57.9 metres. FGO-005 returned 2.7 metres at 12.74 g/t gold from 57.9 metres.

FGO-008 returned 12.5 metres at 3.39 g/t gold from 119.0 metres, including 5.0 metres at 5.93 g/t gold from 121.3 metres. FGO-012 returned 11.7 metres at 5.37 g/t gold from 93.6 metres, including 3.1 metres at 13.78 g/t gold from 97.0 metres.

Mark Brennan, CEO and co-chairman, commented: “While our current focus is on delivering infill drilling at the Serra Alta deposit to support the upgrading of resources for the ongoing feasibility study, we are pleased that the latest exploration results support our view for potential resource growth beyond the Serra Alta deposit at Monte do Carmo. These latest results confirm that Gogo has the potential to add near mine, near surface ounces to our Monte do Carmo project and potentially be incorporated into the ongoing Feasibility Study for Serra Alta.”

Drilling at Gogo has outlined shallow mineralization for a strike length of 250 metres. Cerrado believes that the Gogo satellite deposit can provide additional resources to Serra Alt. The company is currently completing an infill program that can bring these resources into an indicated category that will add relevant inventory to be included in the current Feasibility Study at Monte do Carmo.

The company announced results of the discovery hole, FGO-001 (7.1m at 1.16 Au g/t from 50.7m and 20.4m at 0.78 g/t Au from 96.2m) at Gogo on June 23, 2022. Results reported today confirm the continuity of the mineralization along a shallow North/Northwest corridor of extensional quartz veins hosted in equigranular granite in the proximity of the intrusive contact with felsic volcanics.

Cerrado is the 100% owner of both the producing Minera Don Nicolas mine in Santa Cruz province, Argentina and the highly prospective development project, Monte Do Carmo located in Tocantins State, Brazil.

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