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Toronto, Ontario--(Newsfile Corp. - November 26, 2024) - Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) ("Lavras Gold" or the "Company") announces that, as a result of a review (the "Review") of the existing Butiá and Cerrito Technical Reports by staff of the Ontario Securities Commission (the "OSC"), the Company is issuing the following news release regarding disclosure on the Butiá and the Cerrito Projects.
In connection with the Review, the Company has filed: (i) an amended technical report entitled "NI 43-101 Technical Report Mineral Resource for the Cerrito Gold Prospect Rio Grande do Sul, Brasil dated November 15, 2024 with an effective date of May 31, 2022 (the "Cerrito Technical Report"); and (ii) an amended technical report entitled "NI 43-101 Technical Report Mineral Resource for the Butiá Gold Prospect Rio Grande do Sul, Brasil dated November 15, 2024 with an effective date of January 25, 2022 (the "Butiá Technical Report").
The Company is amending both reports according to the OSC suggestions following their staff review. There is no change to the size or scope of either the Butiá or Cerrito resource estimates. The Cerrito Technical Report and the Butiá Technical Report include additions to disclosure of: (i) the assumptions used to support the cut-off grade; (ii) constraining the mineral resources within a conceptual pit shell to demonstrate reasonable prospects for eventual economic extraction; (iii) rounding of the mineral resource estimates to significant figures; and (iv) clarifying that the independent qualified person is responsible for all items of the Technical Reports.
In addition to filing the Cerrito Technical Report and the Butiá Technical Report, the Company has revised its website and corporate presentations pertaining to the use of the phrase "NI 43-101 compliant" related to estimation of mineral resources, adding inferred resources to other categories of resources prohibited by paragraph 2.2(c) of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), and use of the term "potential world-class" related to the Issuer's Lavras do Sul property.
The Cerrito Technical Report and the Butiá Technical Report are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.lavrasgold.com.
Michael Durose, President & CEO for Lavras Gold Corp., is the qualified person ("QP") as defined by Canadian National Instrument 43-101 and has reviewed and approved the technical information contained in this release.