Cabral Gold

“These column leach test results are very encouraging and confirm that that the gold-in-oxide material at the MG gold deposit at Cuiú Cuiú is amenable to heap-leach processing. The leach recoveries of 92% to 93% are excellent and significantly better than previous test work which revealed an 82% recovery. They are also significantly higher than most heap leach gold mines that are currently in operation. These results should allow us to positively adjust our projected gold recoveries which form part of the ongoing prefeasibility study. These gold recoveries are particularly significant given the recent excellent drill results we are seeing from the Machichie Main and Machichie NE targets which are located only 500m and 650m north of the MG gold deposit, and indicate significant potential for additions of gold-in-oxide material in close proximity to MG.” -- Alan Carter, President & CEO https://lnkd.in/dVWx_pVT

“These follow up drill results are part of an ongoing follow-up drill program at Machichie NE aimed at determining the continuity and extent of the high-grade mineralized zone recently intersected in RC0421 which returned 11m @ 33.0 g/t gold including 4m @ 89.3 g/t gold. The results from RC0449 clearly indicate continuity of the high-grade zone to the east and the zone remains open in all directions and at depth. These results also reveal the presence of lower grade gold mineralization in near surface saprolite material at Machichie NE particularly to the southeast. This again has positive implications regarding the potential for adding near-surface oxide resources at Machichie NE. These latest results continue to suggest that we have made a significant new gold discovery at Machichie NE within the Cuiú Cuiú Gold District. There is excellent potential to add ounces to both the primary hard rock gold resources, as well as the gold-in-oxide resource base. It is highly encouraging that as we continue our drill program, which is primarily aimed at adding near-surface oxide resources which could be amenable to trial mining and heap-leach processing, we are also making exciting new discoveries in the primary granitic bedrock at Cuiú Cuiú. This continues to add to the growing body of evidence suggesting that the global resource base within the Cuiú Cuiú district should grow significantly in the future.” -- Alan Carter, President & CEO https://lnkd.in/dRCDGqfw

“The Machichie West target has never been previously tested by drilling, but previous trenching produced encouraging results including 96.5m @ 0.6 g/t gold and 138m @ 0.5 g/t gold. Following the recent success of near-surface drilling at the Machichie NE target where RC421 recently returned 11m @ 33 g/t gold, this maiden reconnaissance drill program at Machichie West was designed to follow up surface trench results and define the near surface potential for additional oxide resources. The results from hole RC439 look particularly encouraging and may indicate the presence of another new zone of gold mineralization which extends to surface. As with recent results from the Machichie Main and Machichie NE zones, these results indicate the presence of additional near surface gold-in-oxide mineralization in close proximity to the MG gold deposit.” -- Alan Carter, President & CEO “The drilling at Machichie is still widely spaced and there some large gaps, but it appears that Machichie West is the westward continuation of the major E-W trending structural zone coming out of Machichie Main zone. Mineralization is still open to the west as well as the east where we have a large gap in drilling between Machichie West and Machichie Main. The overall Machichie trend has now been defined as over 1.5 kilometres long, and given the proximity to MG, Machichie could provide significant upside to the overall gold-in-oxide development project.” -- Brian Arkell, VP Exploration and Technical Services https://lnkd.in/dKJQSXmD

Cabral Gold Announces Appointment of Samantha Shorter as Chief Financial Officer “I am extremely pleased that Samantha has accepted the position of Chief Financial Officer with the Company. Her qualifications and experience in Brazil, and with companies that are in production, make her an ideal fit for the Company as we advance towards completion of the PFS on the initial trial mining and heap leach operation at Cuiú Cuiú. I would also like to thank Paul Hansed, the outgoing CFO, who is retiring, for his numerous valuable contributions to the Company. Paul has consistently gone above and beyond for this Company and we wish him a very happy retirement.” -- Alan Carter, President & CEO https://lnkd.in/drixQ4Py

“The assay results from RC421 at the Machichie NE target are amongst the top three drill holes ever drilled at Cuiú Cuiú and are the best results drilled to date outside of the known Central and MG gold deposits. The Machichie NE target is located immediately north of the Machichie Main zone discovery and the MG gold deposit all of which contain high-grade E-W trending mineralized structures. The extent of the mineralized structures at both Machichie NE and Machichie Main still need to be determined. These results not only have very positive implications for the presence of additional near surface gold-in-oxide resources at Cuiú Cuiú, but also suggest the presence of significant zones of high-grade mineralization in primary bedrock underlying the weathered material. Further drilling is in progress and is aimed at determining the size of both the Machichie Main zone and the more recent Machichie NE discovery.” -- Alan Carter, President & CEO "The Machichie area continues to return very encouraging results especially in the NE where we are encountering higher grades in major structural breaks. These are some of the highest grades encountered to date on the property and illustrate the significant exploration potential, not only laterally and at depth, but also within newly defined sub-parallel structural zones. Results thus far at Machichie demonstrate significant potential to add resources and higher-grade material to our oxide project, especially given the proximity of the Machichie NE and Machichie Main zones to the MG gold deposit. Further results are expected in the coming weeks as we continue to prioritize drilling for extensions where mineralization remains open to both the west and east.” -- Brian Arkell, VP Exploration and Technical Services https://lnkd.in/dkTEAc7i

Cabral Gold Provides Update on Prefeasibility Study at Cuiú Cuiú Gold Project, Brazil https://lnkd.in/dYgXXEuf

“The completion of the recent oversubscribed equity financing, and the success of the recent RC drill program at MG and Central, which targeted areas of higher-grade gold mineralization within blanket sediments and the underlying saprolite, has prompted us to extend and expand the RC drilling program at Cuiú Cuiú. This is an exciting time for the Company. Whilst our focus for the next few months remains on the completion of the PFS on the trial mining and heap leach processing of the near surface oxide material at Cuiú Cuiú, it is clear that significant upside to the current oxide resources exists at a number of other targets within the Cuiú Cuiú district. The extension of the current drill program will also test several previously untested targets within the district and provide a steady flow of drill results in the coming months.” -- Alan Carter President & CEO "I’m very impressed with the sheer number of high-quality exploration targets on the Cuiú Cuiú property. We have a very solid pipeline of prospects for early-stage exploration as well as several drill-ready targets to potentially add resources. This round of drilling is aimed at adding resources at targets nearby the Central and MG deposits. Afterwards, we plan to continue scout drilling and infill drilling at several other targets this year using our low-cost RC drill. At the same time, we will be conducting more detailed geophysics, further sampling programs, and a comprehensive structural study as part of our district and regional exploration plans to produce the next generation of drill targets.” -- Brian Arkell VP Exploration and Technical Services https://lnkd.in/dHzXdeSJ

Cabral Gold Appoints Brian Arkell as Vice President Exploration and Technical Services “We are both excited and fortunate to have Brian join our team. We believe his extensive experience with gold exploration and, in particular, mine development and operations, will be invaluable as we advance the current pre-feasibility study aimed at mining and heap-leach processing the extensive gold-in-saprolite material at our Cuiú Cuiú project. Brian’s appointment is part of our planned transition from a junior exploration company to a junior gold producer, and his previous experience with Newmont Mining augers well for the longer-term objective of defining the extensive gold endowment of the Cuiú Cuiú district. To date Cabral has discovered and delineated two main gold deposits with NI 43-101 compliant resources, made two additional significant gold discoveries that require more drilling prior to defining resources, and defined 43 high-quality exploration targets with gold showing in drill holes, trenches and surface boulders.” -- Alan Carter President & CEO https://lnkd.in/diq3PUbH

“These additional results from the RC drilling at Central and the auger drilling at MG build on earlier drill results that show the widespread presence of gold in the near-surface blanket sedimentary material and the underlying weathered basement rocks or saprolite at concentrations well above the cut-off grade of 0.14 g/t gold which was applied to the most recent resource estimate of July 2022 for this oxide material.” -- Alan Carter, President & CEO https://lnkd.in/duNdGFd6

“These additional RC drill results from Machichie confirm the presence of a significant zone of near surface gold-in-oxide mineralization at Machichie which appears to overlay another primary gold deposit. Further drilling will be required to fully define the limits to both the weathered gold-in-oxide mineralized material and the underlying hard-rock mineralized zone which was the focus of previous drilling. Both of these zones remain open along strike and to depth. The proximity of Machichie to the MG gold deposit has significant positive implications for the overall near surface gold-in-oxide resources which are amenable to heap leaching at Cuiú Cuiú, as well as the underlying resource base in fresh intrusive basement rocks.” -- Alan Carter President & CEO https://lnkd.in/dt_W3MYJ