Cerro de Pasco Resources Announces AGM Results, Appointment of Consultant and Stock Options Grant

MONTREAL, Sept. 19, 2024 - Cerro de Pasco Resources Inc. (CSE: CDPR) (Frankfurt: N8HP) ("CDPR," or the "Corporation") is pleased to announce the results of its annual meeting of shareholders held on September 17, 2024 (the "Meeting").

AGM Results

All resolutions put to vote at the Meeting passed with 99% or higher approval from the votes cast. The Corporation elected eight directors to its board, namely, John Booth, Frank Hodgson, Manuel Lizandro Rodriguez, Steven Zadka, Eduardo Loret de Mola, René Branchaud, Guy Goulet and John Carr.

Prior to the Meeting, Keith Brill informed the Corporation that he would not seek re-election at the Meeting. To fill the vacancy thus created, the board of directors proposed and the shareholders approved the election of John Carr as a director.

John Carr is a chemical engineer and was co-founder of New Century Resources, which acquired and restarted the Century Zinc Mine, Australia. As Chief Development Officer, John was responsible for developing the large-scale brownfield base metal mine re-start and expansion at Century, now a top-15 global zinc producer and Australia's largest tailings reprocessing operation. John is also co-founder of Future Element, a private company established to develop commercial ventures for tailings reprocessing and rehabilitation globally and co-founder of Broken Hill Mines, who acquired the Rasp and Pinnacles Zinc-Lead-Silver projects. John is also a Non-Executive Director of ASX-listed Future Metals NL (ASX:FME).

The Corporation wishes to express its appreciation for Keith's contribution to the board of directors of the Corporation. Keith remains as a special advisor to the board.

At the Meeting, the shareholders of the Corporation also approved the appointment of Davidson and Company LLP as auditors of the Corporation.

Investor Relations Consultant Appointment

The Corporation is also pleased to announce the appointment of Ms. Donna Yoshimatsu as independent senior strategic advisor for investor relations effective immediately. She will work closely with senior management to broaden the Corporation's investor outreach with particular focus on enhancing institutional awareness and strengthening the foundation of a growing shareholder base. In addition to spearheading the first investor and shareholder relations programs for Franco- and Euro-Nevada Mining Corps, Ms. Yoshimatsu has held senior positions with SNC-Lavalin Group and a number of precious and base metal mid-tier and junior mining companies over her 30-year career.

Guy Goulet, President and CEO of Cerro de Pasco Resources added, "We are thrilled to be working with Donna - an expert in her profession with a strong background in the capital markets - she comes with decades of experience and institutional relationships. Since the historical granting of the Land Easement in May, to the authorization for the initiation of exploration activities from the Peruvian Ministry of Energy and Mines in late August, the first ever drilling authorization granted for a new mining exploration project over tailings in the history of Peru, the timing cannot be more appropriate as we execute on our developing growth strategy."

Pursuant to her agreement with the Corporation, Ms. Yoshimatsu was granted 250,000 stock options in accordance with the Corporation's stock option plan and a monthly fee of $6,500 plus applicable GST over an initial period of twelve months. The agreement may be terminated by either party by providing 60-days prior written notice to the other party.

Stock Options Grant

CDPR also announces that it has granted a total of 12,400,000 stock options to directors, officers, employees and consultants of the Corporation. Each option is exercisable to purchase one common share (a "Common Share") of the Corporation at an exercise price of $0.20 per Common Share for a period of five year.

About Cerro de Pasco Resources Inc.

Cerro de Pasco Resources is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit mine in Central Peru. The Corporation's approach at El Metalurgista entails the reprocessing and environmental remediation of mining waste and the creation of numerous opportunities in a circular economy. The asset is one of the world's largest above-ground resources.

Forward-Looking Statements and Disclaimer

Certain information contained herein may constitute "forward-looking information" or "forward-looking statements" under Canadian securities legislation. Generally, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "could", "will", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations including negative variations thereof of such words and phrases that refer to certain actions, events or results that may, occur or be taken or achieved. Such forward-looking statements, including but not limited to expected development and operations of the Corporation, involve risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Such factors include, among others, the exercise of any termination rights under the above-mentioned agreements, risks related to the exploration, development and mining operations; impacts of macroeconomic developments; and any material adverse effect on the business, properties and assets of the Corporation. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Contact Information

Cerro de Pasco Resources Inc.
Guy Goulet, President and CEO
Tel.: 579 476-7000
Email: ggoulet@pascoresources.com

Ms. Donna Yoshimatsu
Senior strategic advisor , Investor Relations
Tel. : 416 722-2456
Email : dyoshi@pascoresources.com