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H2-SPHERE GmbH and the German Aerospace Center (DLR) are on the right track to develop a process to produce green hydrogen using residues from Cerro de Pasco resources

MONTREAL, November 8, 2022 /CNW/ – Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCPK: GPPRF) (Frankfurt: N8HP) (“CDPR” or the “Company”) is pleased to announce that its subsidiary H2-SPHERE GmbH, will proceed with patent applications and move into the next phase of developing techniques for converting mining waste into green hydrogen and other by-products.

The decision is based on the positive results of the investigation report (phase 1a) drawn up jointly with the German Aerospace Center (DLR) and published on October 27, 2022, confirming the process, conversion rates and unit costs based on scientific theory and empirical evidence. The next phase (1b) will include laboratory testing and the design of basic components for industrial-scale production.

Bernard DoldCEO of H2-SPHERE and CTO of CDPR: “The Investigation Report demonstrates that the proposed techniques are highly competitive in terms of production costs and energy efficiency compared to standard green hydrogen production processes, unlocking potential for a technique green hydrogen production alternative in the near future Core Innovation by H2-SPHERE and DLR include two complementary techniques to permanently remove highly polluting elements from CDPR’s waste mineral resources that are the primary cause of acid mine drainage (AMD) and convert them into green hydrogen and other commercial by-products.

Guy GouletCEO of CDPR: “The initial findings of this study allow us to significantly expand our vision for the Quiulacocha Tailings project, in terms of scale, end product and economics. We can now not only aspire, but also actively plan to become net -CO negative2 mineral producer.

DLR – Global Technology Leader

DLR is the Federal Republic of germany research center for aeronautics and space comprising 10,000 employees and 55 research institutes and facilities exploring earth and space to develop solutions towards a sustainable future.

Search with H2-SPHERE is run by the Future Fuels Institute, recently established by DLR to prioritize the development of chemical energy storage systems (fuels, i.e. green hydrogen). Current research priorities are highly compatible with CDPR’s mineral waste resource. Due to the positive results of phase 1a, the continuation of the collaboration between H2-SPHERE and DLR are considered.

Industrially scalable resource

Up to half of the material in the Quiulacocha tailings and the Excelsior stockpile, together amounting to around 180 million tonnes, can potentially be reprocessed using techniques currently under development under DLR-H2-SPHERE agreement. Beyond these surface resources, the Cerro de Pasco mining cluster offers various other opportunities. These resources alone provide the opportunity to build a clean, sustainable, world-class energy business.

About Cerro de Pasco Resources

Cerro de Pasco Resources Inc. is a mining and resource management company that applies the highest environmental, social and governance standards required by global institutions and investors. The Company’s main strategic strength is an unrivaled knowledge of the challenges and opportunities presented by mineral endowment in and around the town of Cerro de Pasco combined with a highly experienced and hands-on Peruvian and international management team. The Company’s primary growth objective will be to develop the El Metalurgista mining concession using world-class geo-resources and industrial development solutions to ensure long-term economic operational sustainability in harmony with a healthy local population and prosperous. The Company, which currently operates the Santander mine, also wishes to acquire and operate mines suitable for the Company’s strategic growth plan.

About H.2-SPHERE

H2-SPHERE was formed in December 2021 in partnership with Prof. Dr. Bernard Dold in Germany develop techniques to convert mineral waste into green hydrogen and other by-products, with the joint goal of eliminating the source of acid mine drainage (AMD) and significantly improving the scope and future profitability of its El Metalurgista concession .

Forward-Looking Statements and Disclaimers

Certain information contained herein may constitute “forward-looking information” or “forward-looking statements” under Canadian securities laws. Generally, forward-looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “could”, “will”, “budget” , “planned”, “estimates”, “plans”, “intends”, “anticipates”, “believes”, or variations, including negative variations of these words and expressions which refer to certain actions, events or results that may occur or be taken or achieved. Such forward-looking statements, including, but not limited to, statements relating to the expected development and operations of the Company and H2-SPHERE, involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements or information. These factors include, among others, risks associated with exploration, development and mining activities; the impacts of macroeconomic developments as well as the impact of the COVID-19 pandemic; and any material adverse effect on the business, properties and assets of the Company or H2-SPHERE. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information included herein, except as required by applicable securities laws.

SOURCE Cerro de Pasco Resources Inc.

For further information: Cerro de Pasco Resources Inc., Guy Goulet, President and Chief Executive Officer, Tel. : 579 476-7000, Email: [email protected]; H2-SPHERE GmbH, Bernhard Dold, Prof. Dr., CEO and CTO of CDPR, Tel. : 49 176 64218749, Email: [email protected]