Cerrado Gold Appoints the Toronto-Dominion Bank To Be the Mandated Lead Arranger for Export Credit Agency Supported Project Financing at Its Mont Sorcier Iron and Vanadium Project in Québec - Seite 2

The appointment of TD is on an exclusive basis and sets out the indicative terms upon which the proposed ECA financing is expected to be based. For the avoidance of doubt, the terms are purely indicative and do not constitute an offer of finance or a legally binding commitment of any kind to provide finance. The provision of any binding offer is subject to, among other things: credit and other internal approvals; E&S approvals; satisfactory due diligence and documentation; satisfaction of KYC requirements and other terms customary for this type of transaction.

While the conclusion of project financing remains subject to the completion of a bankable feasibility study, an environmental impact assessment, the granting of construction permits, amongst other requirements, the appointment of the MLA is a significant milestone for the project financing of the Mont Sorcier project. At the Mont Sorcier project, work continues to advance the feasibility study and the environmental impact assessment. The feasibility study is targeted for completion in H2 2024 after which the next phase of the process will commence comprising of a formal due diligence period before a final binding offer and documentation.

Mark Brennan, CEO and Chairman, stated: "We are very pleased to have the support of TD as the MLA to lead our Project Financing in partnership with UKEF as we progress with the development of Mont Sorcier. We believe the strong interest in our project is indicative of the robust nature of the Mont Sorcier project and we look forward to working with TD, UKEF and other stakeholders to deliver the Mont Sorcier project".

About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.5 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 16 million active online and mobile customers. TD had $1.9 trillion in assets on July 31, 2023. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.