ONTARIO - Cerrado Gold Inc. (TSX.V: CERT) (OTCQX: CRDOF) ('Cerrado' or the 'Company') is pleased to announce its operational and financial results for the third quarter of 2021 ('Q3/21').
The third quarter represents the final quarter of restructuring of operations at its Minera Don Nicolas ('MDN') Mine in Santa Cruz Province, Argentina, with the stage set for substantially improved results from operations in Q4. The financial results are reported and available on SEDAR as well as on the Company's website (www.cerradogold.com).
Q3 2021 Minera Don Nicolas ('MDN') Operational Highlights
Another consecutive quarter of record gold production of 10,168 ounces, 6% higher than the previous high of 9,607 ounces
An all-time high for average gold head grade of 3.57 g/t and a 20% improvement over Q2 2021
Strong operating margin of $3.5 million and operating cash flows of $2.3 million in the third quarter
Cash Cost per ounce sold of $1,075, a 12% improvement over Q2 2021 and the fourth consecutive quarter of improvement
AISC of $1,382/oz, a record low since the Cerrado acquisition and the fourth consecutive quarter of improvement
Mark Brennan, CEO and Co-Chairman stated: 'It has been extremely gratifying to see the strong performance delivered by Cerrado's Argentinian team in the third quarter. Our restructuring program implemented post acquisition of MDN continues to bear fruit as demonstrated by our successful Q3 results. The Company is now positioned well to deliver consistent and strong results going into Q4 and we fully expect to see continued improvement in all key operating and financial metrics.'
Contact:
Mark Brennan
Tel: +1-647-796-0023
Email: mbrennan@cerradogold.com
About Cerrado Gold
Cerrado Gold is a public gold producer and exploration company with gold production derived from its 100% owned Minera Don Nicolas mine in Santa Cruz province, Argentina. It also owns 100% of the assets of Minera Mariana in Santa Cruz province, Argentina. The company is also undertaking exploration at its 100% owned Monte Do Carmo project located in Tocantins, Brazil.
Disclaimer
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.
Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado Gold. In making the forward-looking statements contained in this press release, Cerrado Gold has made certain assumptions, including, but not limited to ability of Cerrado to expand its drilling program at its Minera Don Nicolas Project and increase its resources. Although Cerrado Gold believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties.
Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado Gold disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
CERRADO GOLD INC. 
