Cabral Gold Pours First Gold at Cuiú Cuiú, Becomes Brazil's Newest Producer

Cabral Gold has poured its first gold, approximately 1,130 ounces, during the commissioning of the wet circuit at its 100%-owned Phase 1 mine in the Cuiú Cuiú gold district, Brazil, making the operation the country's newest producing gold mine. Wet circuit commissioning is running ahead of schedule following completion of dry circuit commissioning in July 2026. Cabral is now ramping up mining and ore stacking toward a target rate of 3,000 tonnes per day, with commercial production targeted by the end of 2026 and formal 2027 production guidance to follow once the ramp-up is complete.

Company Overview

Cabral Gold (TSXV: CBR | OTCQX: CBGZF) is a junior resource company engaged in the exploration, development, and 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 at 1.14 grams per tonne gold (450,200 ounces) in harder, deeper rock and 13.56 million tonnes at 0.50 grams per tonne gold (216,182 ounces) in near-surface material, which the company classifies as Indicated. A further 13.63 million tonnes at 1.04 grams per tonne gold (455,100 ounces) in deeper rock and 6.4 million tonnes at 0.34 grams per tonne 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 commissioning its Phase 1 processing operation based on the 2025 study, targeting commercial gold production in the fourth quarter of 2026.

First Gold Pour Marks Production Milestone

Cabral has completed the first gold pour at the Cuiú Cuiú mine as part of wet circuit commissioning, producing approximately 1,130 ounces of gold. The dry circuit was commissioned in July 2026, and the wet circuit is now nearing completion well ahead of schedule. With this milestone, Cuiú Cuiú becomes Brazil's newest producing gold mine, moving Cabral from developer to producer.

President & Chief Executive Officer of Cabral Gold, Alan Carter, commented: 

"This pivotal moment for Cabral is the culmination of a lengthy process and is a first step in our journey aimed at unlocking the potential of the entire Cuiú Cuiú district. This achievement speaks to the discipline, execution capability and determination of our entire team, who have delivered the Phase 1 heap leach operation ahead of schedule. We have moved from exploration and engineering through development and into production, creating value for our shareholders, local partners and communities, while maintaining our commitments to safety, environmental stewardship and local economic participation.

I would like to personally thank and congratulate every member of the team who helped make this milestone possible, particularly Luiz Celaro, our VP Operations who has managed the construction process on site. Our focus now turns to ramping up to commercial production, optimising recoveries and reducing unit costs. This milestone is only the beginning. We will continue to grow responsibly and focus on the creation of long-term benefits for our shareholders and our community."

Ramp-Up Targets Commercial Production

Cabral's focus now shifts to ramping up mining and ore stacking operations, targeting a stacking rate of 3,000 tonnes per day and commercial production by the end of 2026. Once the ramp-up phase is complete, the company targets issuing formal production guidance for the 2027 calendar year.

Vice President Project Development at Cabral Gold, John Sestan, commented: 

"It has been a privilege to lead our team of professionals taking the project from concept stage in 2023 to the first gold pour in under 3 years. Our Phase 1 project, which processes gold-in-oxide material, has been shaped by continuous improvement and optimization while holding to a very tight schedule to first production and cash flow.

The completed Phase 1 operation includes several low-cost, readily available expansion opportunities that we are assessing. It also provides an operating base, along with valuable local project development and construction experience, that should simplify and de-risk the planned expansion into the significant hard rock Phase 2 component of our development strategy."

Next Steps

Cabral will continue ramping up mining and ore stacking toward the 3,000-tonne-per-day target and commercial production by the end of 2026, after which it targets issuing formal production guidance for the 2027 calendar year.