Cerro Grande Mining Corporation Announces the Passing of Stephen W. Houghton

TORONTO, Aug. 03, 2021 - The Board of Directors of Cerro Grande Mining Corp. (the "Company" or "CEG") (CSE:CEG) regretfully announces with great sadness that Mr. Stephen W. Houghton, the former Chief Executive Officer of the Company until his retirement on March 31, 2021, who remained the President, on an unpaid basis and without day-to-day responsibilities, and a director of the Company, passed away on August 2, 2021 in Santiago, Chile. Mr. Houghton was instrumental in the creation and development of the Company and served as a director and officer of the Company since its beginnings.

In addition to his contributions to the Company as an officer and director, Stephen was a man of character, a friend and colleague to many at CEG, who dedicated all his energies to the Company. Paul DesLauriers, the Chairman of the Board commented: "It is with great sadness that we share the news of Stephen's passing and all of CEG mourns his death. Stephen was a well-respected colleague, a man of character, commitment and enthusiasm, and a friend to many."

The Board of Directors joins all at CEG in thanking the late Mr. Houghton for his invaluable contribution to the Company during his tenure of service and expresses its deepest condolences to his family.

Cerro Grande Mining Corp. is an exploration and development company with properties and activities currently focused in Chile.

For further information, contact:
Peter Hogg, CFO and interim CEO
James Mac Auliffe
E-Mail: ceg@cegmining.com
Telephone: +56 9 9837 4476
Website:www.cegmining.com