Cabral Gold - Latest Drill Results Advance Oxide Gold Resources in Brazil

• Cabral Gold is a junior gold exploration company focused on the Cuiú Cuiú gold district in northern Brazil
• Recent drilling at the Central and MG deposits has intersected significant near-surface oxide gold mineralization
• Highlights include 23m @ 1.0 g/t gold at Central and 19m @ 1.3 g/t gold at MG
• The oxide blankets and saprolite at Cuiú Cuiú contain over 700,000 ounces in indicated and inferred resources
• Upcoming exploration and drilling aims to expand the existing oxide resources

About Cabral Gold

Cabral Gold Inc. (TSXV: CBR) is a junior resource company engaged in the identification, exploration and development of gold properties in Brazil. The company’s flagship Cuiú Cuiú gold project is located within the Tapajós Region in the state of Pará in northern Brazil. Cuiú Cuiú lies within the historically productive Tapajós Gold Province, site of the largest gold rush in Brazil’s history. Cabral currently holds a 100% interest in Cuiú Cuiú.

The Cuiú Cuiú district contains National Instrument 43-101 compliant indicated resources of 21.6Mt @ 0.87 g/t gold (604,000 oz) and inferred resources of 19.8Mt @ 0.84 g/t gold (534,500 oz). The project’s Central and MG deposits host the majority of the current resources. Importantly, significant oxide gold mineralization overlies the primary mineralization at both deposits.

Expanding Oxide Resources

Recent reverse circulation (RC) and auger drilling by Cabral has focused on expanding the oxide gold resources at Central and MG. The oxide profile at both deposits includes a surficial blanket comprised of transported overburden overlying highly weathered bedrock saprolite. Previous drilling has shown both units to be mineralized.

The latest results build on the maiden oxide resources announced in 2022 of 3.49Mt @ 0.6 g/t gold (65,400oz) indicated and 3.36Mt @ 0.4 g/t gold (44,800oz) inferred at Central, plus 5.78Mt @ 0.5 g/t (88,300oz) indicated and 1.19Mt @ 0.3 g/t (12,300oz) inferred at MG.

Central RC Drilling Intercepts Shallow Oxide Mineralization

Thirteen RC drill holes at Central tested the oxide profile to depths up to 90m. Most holes intersected gold mineralization starting near surface associated with both the overlying sedimentary blanket and underlying weathered bedrock saprolite.

Drill highlights include:

• RC390: 23m @ 1.0 g/t gold from 5m depth (saprolite)
• RC391: 13m @ 1.4 g/t gold from 51m (saprolite); 4m @ 1.2 g/t from 40m (blanket)
• RC387: 3m @ 2.5 g/t gold from 25m (saprolite); 5m @ 1.9 g/t from 61m (fresh rock)

The results confirm mineralization within the oxide profile on multiple sections, with grades exceeding the 0.14 g/t cut-off used for the 2022 resource estimate. Follow up drilling will aim to extend known mineralized zones and identify new areas of gold enrichment.

High-Grade Oxide Intercept at MG

At the MG deposit, auger hole TR665 returned an impressive 19m @ 1.3 g/t gold from surface, including 2m @ 8.0 g/t gold. This intercept on section 553500 is significantly higher grade than surrounding holes that intersected 0.5 g/t gold. The exceptional result suggests potential for underground high-grade oxide feed at MG.

Additional auger drilling at MG also shows widespread low to moderate grade gold enrichment within the near-surface oxide profile on multiple sections. All holes returned at least 8m intervals above 0.3 g/t gold.

Oxide Drilling Ongoing

The recent results continue to demonstrate broad zones of oxide gold mineralization at both the Central and MG deposits. Gold grades and thicknesses intersected exceed assumptions from previous drilling campaigns.

Cabral CEO Alan Carter stated additional drilling is underway to expand the existing oxide resources. Upcoming exploration will also test for new near-surface oxide targets across the broader Cuiú Cuiú district.

With ample existing targets and resource upside, Cabral offers investors exposure to a large and rapidly growing oxide gold inventory in a productive Brazilian gold district. The company looks poised to continue delivering positive drill results and add value through systematic exploration targeting further shallow oxide resource growth.

Conclusion

Cabral Gold represents an intriguing junior gold play advancing a sizeable oxide gold project with proven high-grade mineralization in a prolific Brazilian gold region.

Recent drilling results showcase the resource expansion potential at the flagship Cuiú Cuiú project, where two gold deposits already host over 700,000 ounces of indicated and inferred oxide resources.

Looking ahead, Cabral plans to aggressively drill existing deposits to grow the oxide inventory while testing earlier stage oxide targets across the district. Their fully funded 2023-2024 exploration program should yield a steady news flow of drilling results for investors.

With a tight capital structure, 100% ownership of a strategic land package in a premier address for gold endowment, and continued exploration success, Cabral Gold makes for a compelling investment in the junior gold mining sector.