What Does Cerrado Gold (TSX:CERT) Q2 Output Mean for TSX Venture?

Highlights

• Q2 production increased at Minera Don Nicolas in Argentina.
• Underground mining delivered higher-grade ore during the quarter.
• Exploration and regional assets supported ongoing resource expansion work.

Cerrado Gold operates in the gold mining sector with producing, development, and exploration assets across Argentina, Portugal, and Canada. As a company listed on the TSX Venture Exchange, the TSX Venture Composite Index provides relevant market context. Operations during the second quarter of 2026 reflected higher gold equivalent production, continued underground development, and ongoing exploration activities designed to expand the mineral resource base.

Q2 production improves across mining operations

Cerrado Gold (TSX:CERT) reported second-quarter 2026 production of 15,415 gold equivalent ounces, compared with 13,835 gold equivalent ounces during the corresponding quarter of 2025. Production for the first six months of 2026 reached 28,257 gold equivalent ounces.

The Minera Don Nicolas operation in Santa Cruz Province remained the primary production asset. Heap leach output reached 9,981 gold equivalent ounces during the quarter after operational improvements addressed earlier irrigation challenges related to water availability. Upgrades to the crushing circuit also continued supporting improved processing performance.

The carbon-in-leach processing plant produced 5,434 gold equivalent ounces by treating a blend of stockpiled material and an increasing proportion of underground ore. As underground development advanced, fresh ore became available toward the end of the quarter, contributing to higher production grades.

Underground mining advances

Development beneath the Paloma pit continued throughout the quarter as underground workings followed the mineralized zone at greater depth. Additional underground ore became available during the latter part of the reporting period, supporting expectations for stronger production levels during the second half of 2026.

Mining activities continue to alternate between development work and ore extraction as underground infrastructure expands. This phased approach enables continued access to mineralized zones while maintaining production from existing facilities.

Higher-grade underground ore is expected to represent a growing proportion of processed material as development progresses. Combined with established heap leach operations, the mining complex continues operating through two complementary processing streams.

Exploration supports resource expansion

Exploration remained active across existing mining properties and newly acquired regional assets. Geological mapping and surface sampling commenced on the Falcon property following its acquisition, while drilling preparations advanced for both Falcon and Calandrias II.

The planned drilling campaign is scheduled to begin during the third quarter of 2026. Existing geological information from Falcon is expected to support additional mineral resource definition associated with heap leach production areas.

Regional exploration also continued across the broader land package within the Deseado Massif, where ongoing geological work aims to identify additional mineralized targets capable of supporting long-term mine development.

The combination of existing operations and exploration activities places the company among Canadian-listed Gold Stocks focused on expanding operational resources through both organic exploration and regional property additions. Within the TSX Venture Composite Index, exploration progress remains an important operational milestone for junior mining companies.

Preliminary Economic Assessment planned

A new independent Preliminary Economic Assessment is targeted for the first quarter of 2027. The study is expected to incorporate exploration results together with anticipated mineral resources from the Falcon and Calandrias II properties.

The assessment is intended to present an updated consolidated mine plan reflecting expanded mineral resources, longer operational mine life, and higher production capacity supported by existing infrastructure.

Over recent years, substantial development work has established both heap leach and carbon-in-leach processing circuits at Minera Don Nicolas. This dual-processing configuration enables treatment of different ore types while maintaining operational flexibility across the mining complex.

Completion of exploration drilling and supporting technical work before the end of 2026 is expected to provide information required for incorporation into the planned assessment.

International asset portfolio

Beyond Argentina, Cerrado Gold (TSX:CERT) maintains development and exploration projects in Europe and Canada.

In Portugal, the company holds an interest in the Lagoa Salgada volcanogenic massive sulphide project on the Iberian Pyrite Belt. The property contains polymetallic mineralization including zinc, copper, lead, tin, silver, and gold, with exploration continuing across the concession area.

Canadian activities are centred on the Mont Sorcier project near Chibougamau, Quebec. The project focuses on high-purity direct reduced iron concentrate intended for steel manufacturing applications.

This diversified asset portfolio combines current gold production with development-stage base metals and iron projects across multiple jurisdictions. While Argentina remains the principal producing region, exploration and project advancement continue across all operating regions.

Annual production guidance for 2026 remains unchanged at 50,000 to 60,000 gold equivalent ounces, supported by increasing underground ore availability and established processing infrastructure. Operational updates, exploration programs, and technical studies continue to shape development across assets represented within the TSX Venture Composite Index.