Cerrado States that Mont Sorcier Feasibility Contemplates a Higher Through-put Rate by 60%

Core Insights - Chibougamau Independent Mines Inc. is pleased to report progress on Cerrado Gold Inc.'s Mont Sorcier high purity magnetite iron project, which is in the later stages of a feasibility study expected to be completed by Q2/2026 [1][2] Group 1: Project Development - The feasibility study for the Mont Sorcier project will consider a 60% increase in production rate, targeting 8 million tonnes per annum compared to 5 million tonnes per annum in the previous Preliminary Economic Assessment (PEA) published on September 8, 2022 [4] - Cerrado plans a phased production start, beginning with 4 million tonnes per annum and ramping up to 8 million tonnes per annum approximately three years into production [4] - The increase in production capacity is projected to raise capital costs for phase one by 30-40% due to revised flow sheet design and infrastructure upgrades [4] Group 2: Resource and Timeline - An additional 17,890 metres of resource definition drilling will be added to the database, with some assay results still pending [4] - Despite the increased throughput, the mine life is expected to remain at 20 years, contingent on the results of the next mineral resource update [4] - Cerrado anticipates submitting the project's Environmental and Social Impact Assessment (ESIA) in Q4/2026, with construction potentially starting in mid-2028, pending all necessary permits and financing [4]