Cerrado Gold – Q3 2026 Production, Operations, and Exploration At Minera Don Nicolas, Updates at Lagoa Salgada and Mont Sorcier

Cliff Hale-Sanders, President of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins me to review their Q3 2026 gold production and operational metrics at the producing Minera Don Nicolas (MDN) gold mine in Argentina. We discuss the increased life of mine and MDN due to the acquisition of the adjacent Falcon Properties, and the ongoing 70,000 meter exploration program, both at surface and now with an active underground drill rig. Additionally we get an update on the permitting process at the Lagoa Salgada VMS Project in Portugal and ongoing tradeoff studies for the coming Feasibility Study at the Mont Sorcier Iron Project in Quebec. Q3 Operating Highlights: Q3 production of 16,685 GEO, up 21% from 13,832 GEO in Q3 2025. Year-to-date production of 44,942 GEO, up 23% from 36,432 GEO in the comparable 2025 period Heap leach production remained steady at 9,649 GEO in the quarter, similar to Q2 2026 CIL production increased 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 Exploration is ongoing, with a key focus now on the recently-acquired Falcon property to support resource growth for a new Preliminary Economic Assessment targeted for late Q1 2027. Full-year 2026 production is now expected at the upper end of annual guidance of 50,000 to 60,000 GEO Cliff and I review their Minera Don Nicolas producing gold project in Argentina, and the combination of heap leach and underground gold equivalent ounce production for the third quarter, and the better recoveries experienced for open pit material ran through the CIL plant. He also highlighted the advantages of the Falcon Properties acquisition, and how it adds years to the existing heap leach mine life, as well as substantial exploration upside. We discuss the key objectives from the ongoing 70,000 meter drill program will be looking to extend the project mine life in a substantial way and find new high-grade areas, at surface and underground, for future mine sequencing. This data will feed into an updated resource and improved economics in a PEA both set to release in the first half of 2027. Next we shifted over to the Lagoa Salgada project and that to company is preparing to resubmit a revised permit application, addressing the concerns raised by the Portuguese Environmental Agency (Agência Portuguesa do Ambiente – “APA”) to overturn APA’s opinion and find a resolution to proceed with development of the project in 2027. We got an update on the rationale behind the extension for the completion date of the Bankable Feasibility Study at its Mont Sorcier high grade iron project in Quebec to the middle of next year. This initiative, led by Voyager Metals, a 100% owned subsidiary of Cerrado Gold, is to review numerous optimization and trade-off opportunities that have been identified during the BFS process as having the potential to materially enhance the overall value of the project. Key Optimization Focus Areas Include: Enhanced Mine plan to reduce Overall Strip Ratio, Tailing Dam Construction, CAPEX and OPEX review in light of Ongoing Regional Inflation, Trade-off in Concentrate Quality vs Premium Price. We wrap up discussing the underappreciated current valuation that the company is receiving for the producing MDN mine in Argentina, for both the development-stage Lagoa Salgada and large Net Present Value of the Mont Sorcier Project, and the comprehensive value proposition for all 3 projects. If you have questions for Cliff regarding Cerrado Gold, then please email those to me at [email protected]. In full disclosure, Shad is a shareholder of Cerrado Gold at the time of this recording, and may choose to buy or sell shares at any time. Click here to see the latest news from Cerrado Gold. For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource