Cabral Gold Receives Operating License for the Cuiu Cuiu Phase I Gold Mine. Construction of ADR Leach Processing Plant Completed. First Gold Production Anticipated Ahead of Schedule

Cabral Gold Inc. (CBR) reports that Phase 1 construction at its Cuiú Cuiú gold-in-oxide heap leach project is over 90% complete. The mechanical assembly of the Adsorption, Desorption, and Recovery (ADR) leach processing plant has been finished. The company has received the Operating License (LO) and cyanide permit from SEMAS/PA, which authorizes mining and oxide ore stacking.

First gold production is now targeted for September 2026, approximately six weeks ahead of the original schedule. Commercial production ramp-up is planned for Q4 2026. Expenditures and schedule continue to track in line with the Pre-Feasibility Study effective July 29, 2025.

Safety metrics show 592,380 total hours worked with a Lost Time Injury Rate (LTIR) of 0.34 per 200,000 hours. The supply chain for reagents and diesel is confirmed on-site, validating operational readiness.

Cabral Gold Inc. (CBR) has secured its Operating License and completed the ADR plant, marking critical de-risking milestones that validate the company's execution capability. These developments accelerate first gold production by six weeks ahead of schedule, reducing timeline risk and improving the project's net present value profile.

The announcement serves as a logical follow-up to previous construction updates, which reported 70% completion in April and 85% in July, and aligns with the company's stated commissioning timeline. While the news is positive, the market had already priced in a Q3/Q4 2026 production start based on prior updates and the July 2025 PFS. Consequently, the impact is considered incremental rather than transformative.

Cabral Gold Inc. (CBR) is developing the Cuiú Cuiú Gold District in the Tapajós Gold Province of northern Brazil. The company’s flagship Phase 1 project is a gold-in-oxide heap-leach operation with a processing capacity of 1,000,000 tonnes per annum. An Updated Pre-Feasibility Study released in July 2025 outlines a 6.2-year mine life, an all-in-sustaining cost (AISC) of $1,210/oz, and an after-tax internal rate of return (IRR) of 78% at a gold price of $2,500/oz.

The district hosts significant indicated resources, including 12.29 million tonnes at 1.14 g/t Au in fresh basement and 13.56 million tonnes at 0.50 g/t Au in oxide deposits. Stage 2 development will focus on hard-rock extraction from targets such as Jerimum Cima and Machichie.