Cabral Gold Completes MG Drilling Programme, Confirms Consistent Gold Grades Ahead of Fourth Quarter 2026 Production

• Cabral Gold received a further set of drilling results at the MG gold deposit, covering the eastern and central parts of the planned starter pit.
• The best results from this batch showed thick zones of consistent gold grade starting at surface, in line with results reported previously at MG.
• The drilling programme reached a total of 5,767 metres, tightening the spacing between test points across most of the first year of mining.
• All results from the MG drilling programme have now been received, supporting a targeted upgrade of the resource to a higher confidence category by the end of July 2026.
• Six drill rigs remain active across 4 other target areas, with several sets of results still pending.

Company Overview

Cabral Gold (TSXV:CBR | OTCQX:CBGZF) is a junior resource company engaged in the exploration, development, and near-term production of gold properties in Brazil, holding a 100% interest in the Cuiú Cuiú gold district in the Tapajós Region of Pará state, northern Brazil. Three main gold deposits at Cuiú Cuiú host resources of 12.29 million tonnes ("Mt") at 1.14 grams per tonne ("g/t") gold (450,200 ounces) in harder, deeper rock and 13.56Mt at 0.50 g/t gold (216,182 ounces) in near-surface material, at a confidence level the Company classifies as Indicated. A further 13.63Mt at 1.04 g/t gold (455,100 ounces) in deeper rock and 6.4Mt at 0.34 g/t gold (70,569 ounces) in near-surface material are classified at a lower confidence level, known as Inferred. These estimates are based on independent technical reports dated October 12, 2022, October 21, 2024, and July 29, 2025. The Company is currently building its Phase 1 processing operation based on the 2025 study, targeting commercial gold production in the fourth quarter of 2026.

MG Drilling Confirms Near-Surface Grades

The Moreira Gomes ("MG") deposit is one of two main gold deposits underpinning Cabral's current resource base. Near the surface, the rock at MG has weathered over time, creating a softer material that extends to around 60 metres deep. This weathered material, along with the loose sediment and soil above it, forms the starter pit for the Company's first phase of production, which is targeting output in the fourth quarter of 2026.

The drilling programme was designed to build confidence in the grade and consistency of the near-surface ore that will feed the processing plant, and to refine the mine plan set out in the 2025 study. This latest set of results follows a large number of previously reported results, bringing the total programme to 5,767 metres of drilling. Spacing between test points was tightened to around 12.5 metres across most of the first year of mining and 25 metres elsewhere.

The latest results confirmed the same pattern seen throughout the programme: consistent gold grades starting at surface and extending across substantial widths, with several higher-grade sections nested within the broader mineralised zones. The closely spaced results confirm earlier drilling and support the Company's existing geological understanding, pointing to good near-surface grades suited to the Company's processing method. This allows Cabral to move into production planning at MG with added confidence.

President and Chief Executive Officer of Cabral Gold, Alan Carter said:

"This final set of infill drill results from the MG gold deposit confirms the presence of consistent grades over significant widths from surface in gold-in-oxide material. This provides us with greater confidence in planned ore delivery in advance of mining at the MG gold deposit. With 6 drill rigs currently operating at the Jerimum Cima, Machichie NE, Machichie Main, and Central targets, and construction of our Phase 1 heap leach mine nearing completion, the next few months promise to be an exciting time for shareholders."

Drilling Continues at Four Other Targets

Beyond MG, Cabral Gold is running further drilling across the Jerimum Cima, Machichie NE, Machichie Main, and Central areas using 6 drill rigs in total.

At Jerimum Cima, a follow-up programme is nearing completion, focused on 4 mineralised structures running east to west. Earlier drilling at this target returned a strong, high-grade result, and these structures have now been traced over more than 1 kilometre along their length and more than 200 metres in depth, remaining open toward the east. Drilling in the shallower, near-surface zone at this target is complete, with results still pending.

Drilling has recently begun at Machichie Main and Machichie NE, where the Company is testing several higher-grade structures in deeper rock along a strike length of more than 1 kilometre, an area where no resources have yet been declared. A separate drill is filling in gaps in the near-surface zone at Machichie Main to support future resource additions. At Central, drilling is also nearing completion, with mineralised zones remaining open in two directions and results pending.

Next Steps

Based on drilling completed in 2025 and the first half of 2026, Cabral Gold is updating its resource estimates at MG, Jerimum Baixo, and Pau da Meranda, with further updates planned at Jerimum Cima, Machichie Main, Machichie NE, and Central as remaining results come in. The MG drilling programme was designed to upgrade the current resource to a higher confidence category, targeted for completion by the end of July 2026. Results are still awaited from the Jerimum Cima near-surface programme and from drilling at Central. The Company's near-term catalysts centre on finishing construction of its Phase 1 processing operation, with commercial gold production targeted for the fourth quarter of 2026.

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