Cabral Gold Secures C$20M Bought Deal to Expand Cuiú Cuiú Drilling Program

• Cabral Gold Inc. has entered into a bought deal agreement with Stifel Canada, as sole bookrunner, to issue 21,055,000 common shares at C$0.95 per share for gross proceeds of C$20,002,250.
• An over-allotment option of up to 3,158,250 additional shares at the same price is exercisable within 30 days of closing and, if exercised in full, would bring total gross proceeds to approximately C$23 million.
• Net proceeds will be used for exploration and development of the company's mineral properties and for general working capital purposes.
• The company intends to add drill rigs at the Cuiú Cuiú district, with drilling planned at the Jerimum Cima discovery and other gold discoveries within the district, with the objective of accelerating the growth of indicated and inferred resources, particularly in primary hard rock material.
• The offering is expected to close on or about 2 April 2026, subject to receipt of all necessary approvals to list the common shares on the required Exchange.

Company Overview

Cabral Gold Inc. (TSXV:CBR) (OTCQX:CBGZF) is a Brazil-focused junior gold explorer and developer with a 100% interest in the Cuiú Cuiú gold district in the Tapajós Region of Pará state, northern Brazil. The district hosts three defined gold deposits with NI 43-101 compliant indicated and inferred resources totalling over 1.19 million ounces in primary material and approximately 287,000 ounces in oxide material. The company reported its highest-grade drill result to date at the Jerimum Cima target, 9.5 metres at 87.4 grams per tonne gold, while Phase 1, a gold-in-oxide heap leach starter operation, advances towards commercial production in the fourth quarter of 2026.

Financing Details

Cabral Gold Inc. has entered into an agreement with Stifel Canada, as sole bookrunner on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 21,055,000 common shares at a price of C$0.95 per share for gross proceeds of C$20,002,250.

The company has granted the underwriters an over-allotment option to purchase up to an additional 3,158,250 common shares, representing 15% of the base offering, at the same price. The option is exercisable in whole or in part at any time up to 30 days following closing. If exercised in full, aggregate gross proceeds would rise to approximately C$23 million.

Use of Proceeds

Net proceeds are intended for the exploration and development of the company's mineral properties and for general working capital purposes. The company intends to add drill rigs to the current exploration programme at the Cuiú Cuiú district, with drilling planned at the Jerimum Cima discovery and other gold discoveries within the district. The stated objective is to accelerate the growth of indicated and inferred resources within the district, particularly in primary hard rock material, which is expected to be the basis of Phase 2 development at Cuiú Cuiú.

President and Chief Executive Officer of Cabral Gold, Alan Carter commented on the expanded exploration plans:

"Following recent positive drill results from the Jerimum Cima target, including 9.5m at 87.4 g/t gold, the Company has elected to expand its exploration drill program within the Cuiú Cuiú district. This Bought Deal Financing will allow us to add more drill rigs to the current exploration program and drill the Jerimum Cima discovery as well as several other gold discoveries within the district. This objective of the drill program will be to accelerate the growth of the Indicated and Inferred resources within the district, particularly in the primary hard rock material which is expected to be the basis of the Phase 2 development at Cuiú Cuiú. The Phase 1 gold-in-oxide project remains on schedule and on budget with commercial gold production expected in Q4 2026."

Offering Structure & Distribution

Common shares will be offered by way of a prospectus supplement to be filed in each of the provinces and territories of Canada, other than Quebec, and in the United States on a private placement basis, as well as in other jurisdictions outside Canada and the United States where no prospectus filing or comparable obligation arises.

The Prospectus Supplement will be accessible within two business days of filing via SEDAR+ at www.sedarplus.ca. The corresponding base shelf prospectus dated 4 April 2025 is currently available under the company's profile. Paper or electronic copies of both documents may be requested without charge from ProspectusCanada@stifel.com by providing that contact with an email address or mailing address, as applicable.

The Next Steps

The offering is scheduled to close on or about 2 April 2026, subject to receipt of all necessary approvals to list the common shares on the required Exchange. The company intends to deploy proceeds to expand drilling at the Cuiú Cuiú district, with activity planned at Jerimum Cima and other gold discoveries within the district, with the objective of accelerating the growth of indicated and inferred resources in primary hard rock material. In parallel, the Phase 1 gold-in-oxide project remains on track, with commercial production expected in the fourth quarter of 2026.

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