Cerrado Gold Inc. announce additional drill results from a further 19 drill holes from its completed Phase I (18,998 metres) definition drilling program at the Serra Alta deposit at its Monte do Carmo ("MDC") open pit gold Project located in Tocantins State, Brazil. The results for the remaining 6 holes of the 55-hole program are expected by June 2, 2021. The drill results reported were received up until May 21st, 2021 and represent complete results for FSA-115 and 116, FSA-118 and 119, FSA-121 and 122, and FSA-125, FSA-132, FSA-134 thru 139 and FSA-141 thru 145. Including the assays for holes reported, Cerrado has reported assay results for 49 of 55 holes drilled in the Phase I program. The results for the remaining 6 holes are expected by June 2, 2021. The results indicate that the current drill program has been very successful in confirming and expanding the mineralization. Numerous drill holes have intersected multiple zones of mineralization. The current drill holes intersected broad zones of hydrothermal alteration. Within these zones are multiple higher grade intersections with abundant points of visible gold. The alteration is typical for the Serra Alta deposit, including the abundance of quartz veinlets, potassic and chloritic assemblages, and sulphides (pyrite, sphalerite, and galena) with visible gold. To date, the bulk of the drill results reported fall within the pit boundary as outlined in the Preliminary Economic Assessment ("PEA") of the current resources defined at the Serra Alta deposit at its Monte Do Carmo gold project in Tocantins State, Brazil. The first phase of the current drill program at Serra Alta, which began at the end of September 2020, follows the success of the 2018 drill program which resulted in a maiden NI 43-101 compliant resource estimate with an effective date of December 5, 2018 of an Inferred resource totaling 813,000 oz of gold contained within 13,639,000 tonnes grading 1.85 g/t Au. The Phase I program consisted of 18,998 metres of drilling; mainly step-out and downdip to define additional ounces and a modest amount of infill drilling to upgrade a portion of the resource base to the Measured and Indicated resource categories focusing on the known Serra Alta deposit. This deposit is 1.5 kilometres long, 400m wide, and remains open along strike and at depth and represents only the first of 4 known zones which are being targeted to grow the resource on the overall Monte Do Carmo project land package. Analytical work was carried out by ALS international lab (ALS) and SGS Geosol international Lab (SGS). The facilities of the prep labs are located in Goiânia, Brazil 835 km from MDC and in Belo Horizonte, Brazil 1,110 Km from the MDC project. MDC sends out their samples to ALS and SGS with the prep lab located in Goiânia, or in Belo Horizonte. ALS lab sends the prepared aliquots for analytical assay to their lab in Lima, Peru where the prepared samples are systematically analyzed for gold (ppm) by fire assay (Au-AA24) or gold (ppm) by metallic screen (Au-SCR24). SGS prepared samples at Belo Horizonte and at the same facility performed the fire assay (FAA505) or gold (ppm) by metallic screen (FAASCR_150_Au-Grav), the coarse fraction of metallic screen is assayed at Belo Horizonte and alternatively in Lima, Peru. Randomly the ICP (Inductively coupled plasma mass spectrometry) is done for trace elements in 4 acids (hydrofluoric, perchloric, nitric and hydrochloric) digestion (ME-MS-61) ALS and (ICP40B) SGS. Both labs ALS and SGS have routine quality control procedures which ensure that every batch of samples includes three sample repeats and at least three commercial standards and blank. Cerrado used standard QA/QC procedures, when inserting reference standards and blanks, for the drilling program. The Reference material used are from CDN Resource Laboratories Ltd, ITAK (Instituto de Tecnologia August Kekulé Ltda.) and CTRS (Centro Tecnológico de Referência Sul Americano) suppliers included in the batches following MDC internal protocols.