Cerro de Pasco Resources Inc. reported that it has been granted by INGEMMET three additional mining concessions adjacent to its Santander Mine. The new concessions cover an additional 2,094.103 ha. The new concessions, along with Magistral and Santander Pipe deposit, form part of the fertile regional area of mineralization that hosts numerous distal Zn-Pb carbonate replacement deposits (Porphyry and Skarn Mineral Deposit Belt).

The Company considers that the new areas offer significant exploration potential in view of walk over surveys already undertaken and structural interpretation of Sentinel-2 imagery for the Santander District. Moreover, the combined concession is strategically located within the district of rich concessions including Romina, Puagjanca, Alpamarca and Huaron. The Company plans to negotiate land usage agreements for the new areas during 2023 and will undertake a mapping and sampling program for the first phase of exploration.

Mr. Jorge Lozano, MMSAQP and Chief Operating Officer for CDPR, has reviewed and approved the scientific and technical information contained in this news release. Mr. Lozano is a Qualified Person for the purposes of reporting in compliance with NI 43-101.