Cabral Gold reports additional infill drilling results from MG Gold Deposit, Cuiú Cuiú Gold District, Brazil

Cabral Gold Inc. [TSXV: CBR; OTCQX: CBGZF] reported results from 30 additional 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 additional 30 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 133 infill RC holes totalling 4,800 metres from a planned total of 155, have been completed at MG to date.

Notable results from this batch of RC drill results from MG include 48 metres at 0.65 g/t gold from surface in RC647, 23m at 1.43 g/t gold from surface in RC650, 24m at 0.65 g/t gold from surface in RC651, 29m at 0.90 g/t gold from surface in RC652, 30m at 1.45 g/t gold from surface in RC653, 19m at 1.80 g/t gold from surface in RC657, 40m at 0.70 g/t gold from 3m depth in RC662, 31m at 0.62 g/t gold from surface in RC665, 46m at 1.25 g/t gold from surface in RC671, 21m at 0.65 g/t gold from surface in RC672 and 21m at 0.66 g/t gold from surface in RC673.

The company is doubling its exploration drilling effort and adding three additional drill rigs on site bringing the total rig count to six (two RC rigs and four diamond drill rigs)

Alan Carter, President and CEO, commented, “These infill drill results at MG confirm the presence of good gold grades over significant widths within weathered saprolite material and the overlying blanket sediments at or near surface. As we advance with the construction of our Phase 1 gold-in-oxide heap leach operation, which is now 70% complete, these data will allow us to further refine our mine plan for the starter pit and update the 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. We are also very pleased to announce the decision to add one RC rig and two diamond rigs at Cuiu Cuiu bringing the total number of rigs on site to 6. The bulk of this drilling will be directed to exploration and expansion of the global resource inventory.”

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 additional 30 infill RC holes targeting the gold-in-oxide material in the eastern and central parts of the MG starter pit. These follow the receipt of results from an initial 24 infill RC holes at MG reported on April 7, 2026. The program of infill drilling is aimed at improving the confidence around the Year 1 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 25-metre spacing. Infill drilling in areas of higher grade is ongoing on a 12.5 x 12.5-metre spacing bringing the total infill drilling to date at 133 RC holes and 4800m. A total of 155 infill holes are planned at MG.

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: 48m at 0.65 g/t gold from surface in RC647, 23m at 1.43 g/t gold from surface in RC650, 24m at 0.65 g/t gold from surface in RC651, 29m at 0.90 g/t gold from surface in RC652, 30m at 1.45 g/t gold from surface in RC653, 19m at 1.80 g/t gold from surface in RC657, 40m at 0.70 g/t gold from 3m depth in RC662, 31m at 0.62 g/t gold from surface in RC665, 46m at 1.25 g/t gold from surface in RC671, 21m at 0.65 g/t gold from surface in RC672 and 21m at 0.66 g/t gold from surface in RC673.

All of the other holes reported here were also drilled within the Year 1 pit.

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 drilling program at MG, which is expected to be complete by the second week of May, the bulk of the company’s drilling efforts are directed towards exploration drilling of the underlying hard rock deposits at Cuiú Cuiú.

Following the recent closing of the C$20M bought deal financing announced on March 25, 2026, the company has elected to expand its exploration drilling effort and has purchased an additional RC drill rig and also signed a contract to add two additional diamond drill rigs. This will bring the total rig count on site to 6 (two RC rigs and four diamond drill rigs). Five of the six rigs are now on site and the outstanding diamond drill rig is expected on site by late May.

Drilling is ongoing at the Jerimum Cima target where exploration drilling recently returned 9.5 metres at 87.4 g/t gold and with the arrival of the additional drill rigs, this effort will be expanded with the objective of generating maiden resources for the gold-in-oxide blanket and the underlying primary mineralized zone.

Drilling is also ongoing at Mutum and Central and further drilling is planned at Machichie Main and Machichie NE with the objective of updating the global resource base later this year.

The company is engaged in the exploration, development and near-term production from 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, 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 at 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. The company is currently engaged in the construction of a Phase 1 gold-in-oxide heap leach operation based on the NI43-101 technical report PFS and expects to enter commercial gold production in Q4 2026.