Cerro de Pasco Resources Inc. (TSX-V: CDPR) (OTCQB: GPPRF) (FRA: N8HP) is pleased to report final assay results from the Quiulacocha Tailings Project in Central Peru, confirming high-grade silver, zinc, lead, and gold, alongside significant copper intersections and increasing concentrations of gallium—a critical metal in the high-tech and renewable energy sectors.

“Today’s drill results are very encouraging,” said Guy Goulet, CEO. “The findings confirm the consistent presence of silver and gallium across the drilled area, with average grades exceeding 50 g/t for both metals. Notably, holes SPT1_4 and SPT1_5, located at the southern limit of the drilling area, intersected an average of 86 g/t gallium. Within the first 8 meters, SPT1_4 returned an impressive average of 141 g/t gallium, while SPT1_5 averaged 115 g/t, indicating a strong enrichment near the surface. Based on these results, we anticipate that gallium grades will continue to increase further south.”

“In the central part of the drilled area, we encountered thicker layers of copper-silver-gold (Cu-Ag-Au) tailings. The highest grades recorded in this Ag-Zn-Pb tailings area reached 0.62% Cu, 1.34 g/t gold, and 168 g/t silver. These results suggest that the intersected copper-bearing material correlates with a later phase of copper mining associated with the open-pit, rather than the primary underground high-grade copper zone, which is located further south, and planned for future drilling.”

Highlights – All intersections are in core lengths from surface and correspond to the predominant silver-zinc-lead zone in the northern section of the Quiulacocha deposit:

• Hole SPT1_4 intersected 25 meters at 53 grams per tonne silver, 1.46% zinc, 1.22% Lead, and 92 g/t gallium
• Hole SPT1_5 intersected 25 m at 54 g/t Ag, 1.65% Zn, 1.23% Pb, and 80 g/t Ga
• Hole SPT08 intersected 33 m at 49 g/t Ag, 1.73% Zn, 0.66% Pb, and 33 g/t Ga
  • Including a 17 m intersection at 0.19% copper (“Cu”) and 0.69 g/t gold (“Au”)
• Hole SPT09 intersected 37 m at 57 g/t Ag, 1.53% Zn, 0.73% Pb, and 38 g/t Ga
  • Including an 18 m intersection at 0.24% Cu and 0.55 g/t Au
• Hole SPT19 intersected 28 m at 53 g/t Ag, 2.03% Zn, 0.95% Pb, and 46 g/t Ga
  • Including a 6 m intersection at 0.18% Cu and 0.30 g/t Au
• Hole SPT20 intersected 32 m at 52 g/t Ag, 1.49% Zn, 0.86% Pb, and 44 g/t Ga
  • Including a 10 m intersection at 0.20% Cu and 0.36 g/t Au
• Hole SPT29 intersected 22 m at 48 g/t Ag, 1.29% Zn, 0.79% Pb, and 46 g/t Ga
  • Including a 3 m intersection at 0.23% Cu and 0.36 g/t Au
• Hole SPT30 intersected 25 m at 46 g/t Ag, 1.27% Zn, 0.80% Pb, and 48 g/t Ga
  • Including a 5 m intersection at 0.17% Cu and 0.20 g/t Au

The consistent and increasing presence of gallium, a critical metal essential for advanced electronics and renewable energy technologies, adds significant potential to the project’s economics. Gallium’s importance has surged in response to China’s recent export restrictions to the U.S. and other nations, driving up prices and emphasizing its strategic value in global supply chains. This geopolitical shift underscores the urgent need for secure and diversified sources of gallium, making our discoveries particularly well-timed.

The results demonstrate that the metal content is continuous at depth and laterally across 1,000 meters of the drilled area (Figure 1). The assay results for each of the current eight drill holes are presented from Table 1 to Table 8.

The Iron results also indicate a consistent presence of pyrite throughout the deposit. Pyrite (indicatively 50% of the tailings) may represent a valuable by-product for the project. The upcoming metallurgical test work program will also evaluate the potential for pyrite recovery, including estimated grade, by-products, and impurities.

Figure 1: 40-hole Quiulacocha Drill Program showing drillholes related to this press release

Table 1. Assay results, Drillhole SPT08

Table 2. Assay results, Drillhole SPT09

Table 3. Assay results, Drillhole SPT19

Table 4. Assay results, Drillhole SPT20

Table 5. Assay results, Drillhole SPT29

Table 6. Assay results, Drillhole SPT30

Table 7. Assay results, Drillhole SPT1_4

Table 8. Assay results, Drillhole SPT1_5

Drill Program

CDPR engaged Ingetrol Comercial S.A.C., a subsidiary of Grupo Ingetrol (Chile), and ConeTec Peru, a subsidiary of the ConeTec Group (Canada). The campaign utilizes percussion and sonic drilling techniques to ensure the most accurate results.

On October 23^rd, the Company completed the last of 40 drill holes, ahead of the rainy season, collecting more than 1,000 samples over a significant portion of the Quiulacocha tailings deposit. The samples were safely transported to the laboratory in freezer containers and are currently being analyzed.

Laboratory Testing

All samples are stored and transported to Lima in freezer containers to prevent oxidation and preserve sample integrity.

The samples are dried and tested at the Inspectorate Services Lab (Bureau Veritas) in Lima. Following geochemical and mineralogical testing, representative composites from select samples will be sent for an advanced metallurgical test work program.

The assay results are derived from a combination of multi-element ICP (detecting 60 elements), Atomic Absorption (for determining upper limits of the metals Zn, Pb, and Cu), and Fire Assay for Au.

Quality Assurance and Quality Control

The preparation of samples for Geochemical Analyses comprises drying at 100°C and riffle splitting to obtain a representative pulp sample of 250 grams. The sample does not undergo sieving or any other mechanical preparation (crushing or grinding) to preserve the original grain size distribution.

Bureau Veritas performs all sample preparation and analytical programs, supported by the QA/QC program, which is monitored on a sample lot basis. The CDPR QA/QC program consists of inserting twin samples, coarse duplicate samples, pulp duplicate samples, standard reference materials, and coarse blank material and further checking at a second laboratory.

Geophysics

CDPR has successfully completed Phase 1 of its geophysical studies, focusing on the dry areas of the Quiulacocha Tailings. Depth readings, conducted by Geomain Ingenieros S.A.C., ranged from 20 to over 40 meters in various locations.

The Quiulacocha Tailings

CDPR is the titleholder of the concession “El Metalurgista” in Peru, which grants it the right to explore and exploit the Quiulacocha Tailings within its assigned area. The General Mining Bureau of the Peruvian Ministry of Energy and Mines has formally confirmed the enforceability of these rights.

The Quiulacocha Tailings Storage Facility covers approximately 115 hectares and is estimated to hold approximately 75 million tonnes of material processed from the 1920s to 1990s.

Initially, these tailings resulted from the mining of 16+ million tonnes of copper-silver-gold mineralization with reported historical grades of up to 10% Cu, 4 g/t Au, and over 300 g/t Ag, and later from the mining of 58+ million tonnes of zinc-lead-silver mineralized material with average historical grades of 7.41% Zn, 2.77% Pb, and 90.33 g/t Ag.

With minimal mining costs due to surface-level material and current reprocessing capacity at adjacent plants, CDPR’s Quiulacocha Project stands out as one of Peru’s key mining initiatives. This project provides economic benefits and aims to restore the environment and create employment opportunities, aligning with the local community’s needs.

Technical Information

Mr. Alfonso Palacio Castilla, MIMMM/Chartered Engineer (CEng) and Project Superintendent for CDPR, has reviewed and approved the scientific and technical information contained in this news release. Mr. Palacio is a Qualified Person for the purposes of reporting in compliance with NI 43-101.

Cerro de Pasco Resources

Cerro de Pasco Resources Inc. 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 company’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.