Cabral Gold posts infill drilling results at MG Gold Deposit, Cuiú Cuiú Gold District, Brazil

Cabral Gold Inc. [TSXV: CBR; OTCQX: CBGZF] reported results from 24 shallow reverse circulation (RC) holes drilled targeting gold-in-oxide material at the MG starter pit within the Cuiú Cuiú Gold District, Brazil.

Highlights: Results have been received on an initial 24 infill RC holes targeting the gold-in-oxide material in the eastern and central parts of the MG starter pit. The program of infill drilling is aimed at improving the confidence around the current mine plan at MG and upgrading the current reserve. A total of 68 RC holes totalling 3,174 metres have been completed to date.

Notable results from this initial batch of RC drill results from MG include: 48 metres at 1.35 g/t gold from 4 metres depth in RC625; 17m at 2.27 g/t gold from surface in RC626; 42m at 0.64 g/t gold from surface in RC633; 50m at 0.87 g/t gold from surface in RC634; 50m at 1.35 g/t gold from surface in RC635; 14m at 1.97 g/t gold from surface in RC636; 29m at 1.36 g/t gold from surface in RC640 and 33m at 0.90 g/t gold from surface in RC641.

These results confirm the pre-existing drill holes and the presence of a significant near surface resource with good grade material amenable to heap leach. These data will result in an updated mine plan for the starter pit at MG and will also result in an updated gold-in-oxide reserve estimate ahead of mining.

Alan Carter, Cabral’s President and CEO, commented, “This first batch of infill drill results at MG are highly encouraging and confirm the presence of good grades over significant widths within the near surface weathered saprolite material and the overlying blanket sediments. These data will allow us to further refine our mine plan for the starter pit and update the gold-in-oxide reserve base for the MG gold-in-oxide deposit. This in turn will provide us with greater confidence during the initial year of mining at MG.”

MG RC Infill Drill Results: The MG gold deposit is one of the two main gold deposits that currently comprise the Indicated and Inferred resource base at Cuiú Cuiú. As with the nearby Central gold deposit, the upper portion of the subvertical MG gold deposit is extensively weathered resulting in a vertical profile of highly weathered basement saprolite extending to 60 metres depth. This saprolite together with the overlying blanket sediments and soils, which are also mineralized, will form the starter pit for the Phase 1 gold-in-oxide mining operation which is due to commence production in Q4 2026.

The objective of the ongoing RC infill drill program at MG is to provide greater confidence on the grade and continuity of the current reserve base at MG ahead of mining and to further refine the mine plan that was developed as part of the PFS study release in July 2025.

Results have been received on an initial 24 infill RC holes targeting the gold-in-oxide material in the eastern and central parts of the MG starter pit. The program of infill drilling is aimed at improving the confidence around the current mine plan at MG and upgrading the current reserve by the end of this month. A total of 68 RC holes totalling 3,174 metres have been completed to date on a 25 x 25m spacing. Additional infill drilling in areas of higher grade will be completed on a 12.5 x 12.5-metre spacing.

The RC drill results reported to date confirm the presence of good grades within the weathered saprolite and overlying sedimentary blanket and the Year 1 pit outline. Of particular note are the following RC drill results: 48 metres at 1.35 g/t gold from 4 metres depth in RC625; 17m at 2.27 g/t gold from surface in RC626; 42m at 0.64 g/t gold from surface in RC633; 50m at 0.87 g/t gold from surface in RC634; 50m at 1.35 g/t gold from surface in RC635; 14m at 1.97 g/t gold from surface in RC636; 29m at 1.36 g/t gold from surface in RC640 and 33m at 0.90 g/t gold from surface in RC641.

Holes RC623 to RC628 were drilled on section 553175E towards the western limit of the Year 1 pit outline whilst RC632 to RC637 were drilled on section 553275E in the western central part of the Year 1 pit.

Three holes (RC625, RC635 and RC644) returned narrow intervals of higher-grade material which will be separated and stockpiled during the gold-in-oxide mining operation for processing at a later date.

These results are in line with the existing MG mine plan and confirm the pre-existing drill holes and the presence of significant near surface resources with good grade material amenable to heap leach.

In addition to the RC infill drill program, which is ongoing at MG, the bulk of the company’s drilling efforts are directed towards exploration drilling of the underlying hard rock deposits at Cuiú Cuiú. Two rigs are currently operating, and an additional RC rig is expected on site by mid-April bringing the total number of drill rigs on site to four.

The company is anticipating further expanding this exploration drilling effort in the coming weeks following the closing of the C$20M bought deal financing announced on March 25, 2026. Further details regarding the exploration drilling program for the remainder of 2026 will be released in the coming weeks.

The company has a primary focus on gold properties in Brazil. The company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil. Three main gold deposits have so far been defined at the Cuiú Cuiú project which contain NI 43-101 compliant Indicated resources of 12.29Mt at 1.14 g/t gold (450,200oz) in fresh basement material and 13.56Mt at 0.50 g/t gold (216,182oz) in oxide material. The project also contains Inferred resources of 13.63Mt at 1.04 g/t gold (455,100oz) in fresh basement material and 6.4Mt @ 0.34 g/t gold (70,569oz) in oxide material.

The resource estimate for the primary material is based on the NI 43-101 technical report dated October 12, 2022. The resource estimate for the oxide material at PDM and MG is based on a NI 43-101 technical report dated October 21, 2024. The resource estimate for the oxide material at Central and Machichie is based on a NI43-101 technical report (Updated PFS) dated July 29, 2025.

Cuiú Cuiú was the largest area of placer workings in the Tapajós and produced an estimated 2Moz of placer gold historically.