Cerro de Pasco Resources Inc. (CDPR) confirmed that it has been granted a long awaited Land Easement via Supreme Resolution, providing access to the surface areas corresponding to its wholly owned El Metalurgista Concession and Quiulacocha Tailings Project (QT Project), where the Company will perform its exploration drilling campaign, marking a major milestone for the Company. The Resolution, which overrides deadlock with the State-owned Activos Mineros SAC (AMSAC), enforces the Company?s legitimate rights as holder of the El Metalurgista Concession, to explore and in due course exploit the QT Project. Following concerted action led by the Ministry of Energy and Mines and a rigorous process, the Government signed the Supreme Resolution, thus marking the start of the full-scale project in Cerro de Pasco.

Easements of this type have only been granted a handful of times in the past in Peru. Next Steps: With this, the Company complies with all requirements to get access to the area covered by the El Metalurgista and undertake drilling during the forthcoming Andean dry season (June to November). In parallel, the Company will agree terms to extend drilling to the entire Quiulacocha Tailings site, beyond the boundaries of the El Metalurgista concession.

Agreement Highlights: The Supreme Resolution, signed by the President of Peru, as well as the Ministers of Energy & Mines, and Agriculture, respectively, concludes a lengthy deadlock with AMSAC, a state-owned entity originally tasked with the remediation of state environmental liabilities stemming from the privatization of Centromin. CDPR will deposit approximately USD 1 million at the National Bank for the Easement and will be allowed to access and start activities forthwith within the El Metalurgista concession. Drilling Program: CDPR expects to complete the 40-hole drilling program and to begin the first phase of the QT Project in the coming months, coinciding with the Peruvian Andes dry season.

The program will include geophysical studies, laboratory testing, minerology testing, resource estimation and economic assessment, with the objective of filing a resource report compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (?NI 43-101?). The Quiulacocha Tailings: CDPR is the titleholder of the concession located in Peru called El Metalurgista, which grants it the right to explore and exploit the Quiulacocha Tailings located within its assigned area. The enforceability of these rights has been formally confirmed by the General Mining Bureau of Peruvian Ministry of Energy and Mines.

The Quiulacocha Tailings Storage Facility covers approximately 115 hectares and is estimated to hold approximately 75 million tonnes of material processed from the 1920s to 1990s. The Quiulacocha Tailings Storage Facility is comprised of processing residues that came from the Cerro de Pasco open pit and underground mine. Initially these tailings resulted from the mining 16+ million tonnes of copper-silver-gold mineralization with reported historical grades of up to 10% Cu, 4 g/t Au and over 300 g/t Ag and later from the mining of 58+ million tonnes of zinc-lead-silver mineralized material with average historical grades of 7.41% Zn, 2.77% Pb and 90.33 g/t Ag.