Cerro de Pasco Resources Inc. (TSX-V: CDPR) (OTCQX: CDPMF) (FRA: N8HP) (BVL: CDPR) announces that the Sale Committee of Activos Mineros S.A.C. has awarded Public Auction No. 001-2026-AMSAC to the Company’s subsidiary, Cerro de Pasco Resources del Perú S.A.C. The Auction was called by AMSAC for the transfer of the tailings held in the Quiulacocha Tailings Storage Facility for their economic reprocessing. The award was granted on October 12, 2026 and remains subject to the execution of definitive agreements with AMSAC, which is expected in the coming days.

Upon execution of the definitive agreements, the Company expects to hold both the mineral rights and the surface rights over the Quiulacocha tailings, which, together with its 100%-owned El Metalurgista concession, is expected to consolidate all the mineral and surface rights required to advance the Quiulacocha Tailings Reprocessing Project. The Company will provide further update once the agreements have been executed.

Background to the Auction

AMSAC, a Peruvian state-owned entity responsible for the remediation of legacy mining environmental liabilities, called the Auction under Supreme Decree No. 013-2008-EM, which allows it to transfer accumulated mining waste or tailings from its closure and remediation projects to the private sector for economic use.

The Auction covers the tailings of the Quiulacocha Tailings Storage Facility, identified as mining environmental liability ID No. 6752 in the district of Simón Bolívar, province and department of Pasco, together with the associated surface rights required for their reprocessing. The Quiulacocha tailings host a polymetallic mineral inventory that includes several critical minerals, and their reprocessing is expected to contribute to the supply of critical minerals while addressing one of Peru’s largest legacy mining environmental liabilities.

Next Steps

Signing of the definitive agreements with AMSAC is expected in the coming days, at which point the Company will provide a further update. The Company continues to advance a comprehensive technical program at Quiulacocha, leading toward a maiden Mineral Resource Estimate and feasibility-level studies

About Cerro de Pasco Resources

Cerro de Pasco Resources Inc. is focused on developing its 100%-owned El Metalurgista concession in central Peru, which hosts silver-rich tailings and stockpiles accumulated over more than a century of mining in one of the most prolific polymetallic districts in the Americas. The Company’s strategy is to reprocess historic mining waste to recover value while addressing the long-term environmental liabilities associated with these tailings.

For more information, please visit www.pascoresources.com.

Further Information

Donna Yoshimatsu, VP Investor Relations
Mobile: +1 416-722-2456
Email: dyoshi@pascoresources.com