Cerro Grande Mining Corporation Announces Results of Annual Meeting of Shareholders

TORONTO, March 31, 2021 - Cerro Grande Mining Corp. (the "Company" or "CEG") (CSE:CEG) announces that it held its annual meeting of shareholders today (the "Meeting"), and is pleased to report that all directors nominated for election, namely Paul J. DesLauriers, Mario Hernandez, Stephen Houghton, Frederick Seeley, William Hill and Peter Hogg, were elected and the Company's auditors were reappointed for another year.

David Thomson, a long-time director and officer of the Company retired from the Company effective today and accordingly, Mr. Thomson did not seek re-election as a member of the Board at the Meeting. In addition, Mr. Houghton has resigned his office as the Company's CEO effective today. Mr Houghton will remain the Company's President in an unpaid capacity and without any day-to-day responsibilities, and remains on the Board pursuant to his election today. Mr. Hogg, the Company's CFO will assume the role of CEO, on an interim basis, until a suitable replacement is found. We wish Mr. Thomson and Mr. Houghton all the best and thank each of them for their long and dedicated service to the Company.

Cerro Grande Mining Corp. is an exploration and development company with properties and activities currently focused in Chile.

For further information, contact:
Peter Hogg, CFO and interim CEO
James Mac Auliffe
E-Mail: ceg@cegmining.com
Telephone: +56 9 9837 4476
Website: www.cegmining.com