Los Cerros Limited provided the following update regarding recent and planned activity at the Company's Quinchia Project in the prolific mid-Cauca gold porphyry belt of Colombia. As described in recent announcements and presentations, the Company's current focus is threefold ahead of the next drill campaign - Chuscal drill targeting, Tesorito drill targeting and Miraflores geological modelling. Los Cerros completed the Chuscal maiden drilling program in January 2020, the results of which continue to inform as data are incorporated into regional datasets and geological models. Chuscal's appeal is the presence of two styles of mineralisation, porphyry associated gold providing a low grade disseminated background level of mineralisation which is overprinted by epithermal veins, including a final pulse or episode of vein emplacement which is higher grade gold associated with carbonate base metal (CBM) style mineralisation1. It is the overlap of one style of mineralisation over the other that has the potential to produce bulk zones of economic grade. The application of pathfinder elements/minerals, mineral alteration and various signature ratios has vectored into two possible sources for the extensive porphyry associated gold detected in the four drill holes drilled to date. Investigations since the release of this vectoring work in January have refined the potential drill targets and provide further validation that both remain compelling targets for the discovery of gold porphyry mineralisation. Current field programs have also sought to improve the Company's understanding of the epithermal vein hosted component of the Chuscal prospect, particularly the E-W trending corporation vein set intercepted in DDCH003 which assayed 0.4m @ 31.8g/t Au from 253.3m within a wider zone of 6m @ 2.97g/t Au from 250m. This intersection is extrapolated to surface to correlate with a high grade zone of soil anomalism and an artisanal mine 2 and is extrapolated at depth to potentially intersect the corporation porphyry target. Recent field work has: extended the corporation vein set to the east and west to a strike length of 800m; returned surface grab samples of 6.68g/t, 4.73g/t and 4.62g/t gold; mapped a surrounding sericite-illite-pyrite alteration halo; identified a coincidence with anomalous molybdenum; mapped M and A type vein structures within the area which may be indicative of the underlying porphyry associated mineralisation; and demonstrated an association with a 150m wide ground magnetic low that extends along the strike of the corporation vein set and might represent a wide fluid pathway of which the corporation vein is a part. The Company has advanced field preparations work for a ground based IP geophysics program over Chuscal. The objective of the program is to further develop Los Cerros' understanding of the epithermal veins that host the higher grade gold at Chuscal and to contribute to the vectoring into the two targets, identified to date, that are the potential porphyry sources. The IP program is scheduled to commence as soon as COVID-19 restrictions permit.