Cerro de Pasco Resources Signs Definitive Agreement with the Quiulacocha Community

MONTREAL, Oct. 17, 2019 - Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCMKTS: GPPRF) (Frankfurt: N8HP) ("CDPR", or the "Corporation") announces that following the September 15^th Quiulacocha Rural Community's decisive vote in favor of CDPR and numerous subsequent meetings, it finally signed a Definitive Agreement with the Quiulacocha Rural Community before the notary of Pasco, Julio Blas Alipázaga, dated yesterday, October 16^th, 2019.

The Agreement provides CDPR with rights of use over 77.54 ha. held by the Quiulacocha Rural Community for developing the "Quiulacocha" project, and the "social license" to develop exploration and reuse activities within the "Quiulacocha" tailings, located within and beyond the "El Metalurgista" concession. In addition, the Community will help CDPR to attain all the necessary authorizations from the mining authority for developing the "Quiulacocha" project.

Furthermore, the Agreement sets out guidelines under which the Community and CDPR will join forces to take forward the environmental remediation measures which will apply once the "Quiulacocha" project starts.

Benefits include an increase of local employment, special royalties for the Community and a new source of revenue for the Central, Regional and Local governments, which can be reinvested in works that benefit the entire population.

Executive Director of CDPR, Manuel Rodríguez-Mariátegui, affirmed that "next steps with the Ministry are expected to accelerate with the formalization of this landmark agreement".

Cerro de Pasco Resources Inc.
Cerro de Pasco Resources Inc. is a resource management company attuned to the most demanding environmental, social and legal compliance required by global institutions and investors. The key strategic strength of the Corporation is an unparalleled knowledge of the challenges and opportunities presented by the minerals endowment within the city of Cerro de Pasco combined with a highly experienced and practical team of both Peruvian and international management. The key focus of the Corporation will be on developing the El Metalurgista mining concession using advanced geo-resource and industrial development solutions in order to secure long-term economic operational sustainability in harmony with a healthy and prosperous local population.

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SOURCE Cerro de Pasco Resources Inc.