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Cerrado Gold Announces Second Quarter 2026 Financial Results • Gold equivalent production of 15,415 Gold Equivalent Ounces ( " GEO " ) at AISC of $ 1,933 / oz Au during Q2 2026 • Adjusted EBITDA of $ 28.2 million for Q2 2026 and Strong Cash Position of $ 25.3 million at quarter end • Annual Production Guidance of 50,000 to 60,000 GEO reiterated for 2026 • Preliminary Economic Assessment targeted for Q1 / 27 supported by ongoing exploration program and recent property acquisitions expected to support resource growth leading to increased mine life and a structural increase in production levels • Continued progress at both the Lagoa Salgada and Mont Sorcier projects Management to host conference call on August 19th , 11:00 AM EDT . TORONTO , Aug. 18 , 2026 ( GLOBE NEWSWIRE ) Cerrado Gold Inc. [ TSX.V : CERT ] [ OTCQX : CRDOF ; FRA : BAI0 ] ( " Cerrado " or the " Company " ) announces its operational and financial results for the second quarter ended June 30 , 2026 ( " Q2 / 26 ” ) , including its Minera Don Nicolas ( " MDN ” ) gold mine in Santa Cruz Province , Argentina , its Lagoa Salgada Polymetallic Project in Portugal , and its Mont Sorcier High Purity DRI Iron Project in Quebec . Production results for MDN were previously released on July 13 , 2026. The Company's financial results are reported and available on SEDAR + ( www.sedarplus.com ) and the Company's website ( www.cerradogold.com ) . Q2 / 26 MDN Operating Highlights : • Q2 Production of 15,415 vs 11,437 GEO in Q2 2025 and 12,842 in Q1 2026 • Heap leach production of 9,981 GEO in Q2 2026 ; continues to increase Underground development work continues at an accelerated pace supporting higher production expected in H2 / 26 • CIL plant continues to process a blend of stockpile material and additional ore from underground development , resulting in total production of 5,434 GEO in Q2 Operational results for Q2 2026 continued the trend of increasing production relative to the previous quarters . Production rates increased at the heap leach operations versus the previous quarter as irrigation issues subsided and more crushed material was placed on the heap leach pads , benefiting from recent improvements in the crushing circuit . As more water for irrigation becomes available , all the gold inventory placed on the pad earlier should be recovered over time . Average gold recovery rates remained lower than expected due to the mix of primary ore placed on the leach pads due to mine sequencing , while silver recoveries improved significantly versus the prior quarter . CIL production remained steady , supporting overall production levels . Unit costs per ounce of gold sold were $ 1,933 / oz Au , an increase compared to the prior year primarily as a result of the initial effect of cost - cutting measures and increased labor costs in Argentina . The focus on underground development continued during the quarter , which reduced the ore available for immediate processing , but increased development will allow access to greater amounts of ore in future quarters and is expected to lift production and improve head grades to the plant over the balance of the year . During 2026 , underground ore operations are expected to follow a cycle of development and then ore extraction , as the underground workings follow the ore zone deeper under the current pit . The Company continues to advance its exploration program at MDN , focused on near - mine targets with the potential to materially extend resources and mine life . This includes supporting medium - term operational sustainability through high - grade underground feed to the CIL plant , as well as increasing resources available for heap leach processing . A new underground drill rig arrived on site in July and should accelerate underground exploration . At MDN , the company is planning to complete a new Preliminary Economic Assessment and Mineral Resource Estimate in Q1 / 27 to incorporate results from the ongoing exploration program and recent property acquisitions adjacent to MDN . This is expected to demonstrate an enhanced mine life and growing production profile . At Lagoa Salgada , the Company continued to work on the Optimized Feasibility Study ( OFS ) while progressing permitting and project financing activities . Due to permitting uncertainty , workflows have slowed during the period but are positioned to accelerate when appropriate . In June 2026 , the court ruled in favour of the