Cabral Gold arranges $20-million bought deal

The most recent news (March 25, 2026) announces a $20 million bought deal financing at $0.95 per share, led by Stifel Canada. This follows a string of exceptional drill results, most notably 9.5m @ 87.4 g/t gold at the Jerimum Cima target. The proceeds are earmarked for expanding the exploration drill program (adding more rigs) to accelerate resource growth in primary hard rock material. Crucially, management reaffirmed that the Phase 1 gold-in-oxide project remains on schedule and on budget for commercial production in Q4 2026.

The impact is Routine - Positive. While the $20M raise is substantial, it is categorized as routine because it is a follow-up to the massive technical de-risking events of the previous weeks (the "Game Changer" gold loan and the "Material Positive" drill results). - Validation: A bought deal at $0.95—the 52-week high—indicates strong institutional appetite and validates the recent high-grade discovery. - Acceleration: The capital allows the company to pursue "Phase 2" (hard rock) growth without diverting cash flow from the "Phase 1" (oxide) construction. - De-risking: Reconfirming the Q4 2026 production timeline amidst a major raise provides confidence that the construction is not facing hidden Capex overruns.

Cabral Gold owns 100% of the Cui\u00fa Cui\u00fa gold district in the Tapaj\u00f3s region of Brazil. The project is being developed in two phases: - Phase 1: A low-cost gold-in-oxide heap leach starter project (Construction 54% complete). - Phase 2: Future exploitation of the much larger primary hard rock resource (Indicated: 450k oz; Inferred: 455k oz).