Cerrado Gold Inc V.CERT

RE:167 : the second best hole of monte do camo short history.

[ABDPhil]

I would like to draw your attention to this 129 meter drill hole with an average gold grade of 1.68 g / t.

Checking out the table that describes the detailed results of drill FSA-164, here is what I conclude. For the 11 identified sections of this drilling, for a total of 31.53 meters, the average gold grade is 5.82 g / t. Seen like this, it’s a great result.

Seen differently, we must consider that the 97.47 (129 - 31.53) meters that remain present an average gold grade of 0.34 g / t. If you compile this information, you will arrive at the same result as presented in the press release, namely 129 meters at 1.68 g / t.

By including the first 14 meters of waste rock, you therefore have a total of 111.47 meters (14 + 97.47) too weakly mineralized, and 31.53 meters exploitable out of a total of 143 meters (14 + 129).

In conclusion, the quantity of material that will have to be moved to the waste yard is far too large to say that they are indeed "STRONG DRILL RESULTS".

I am not in a position to say whether the exploitation of this permit will eventually be economically viable because we do not have enough information. Therefore, be careful and don't be swayed by these catchy headlines.