Cabral Gold Achieves Major Permitting Milestone with the Granting of the LP for Full Mining License at Cuiu Cuiu Gold District, Brazil

Executive Summary

• Cabral Gold Inc. received the Licença Prévia (LP) from the Pará State Environmental Council (COEMA), granting a Full Mining License for its Cuiú Cuiú Gold District project in Brazil.
• The LP de‑risks both Phase 1 (gold‑in‑oxide) and Phase 2 (hard‑rock) development, enabling expansion of Phase 1 capacity from 500,000 t/yr to a full plant capacity of 1 M t/yr and paving the way for subsequent Installation (LI) and Operating (LO) licenses.
• The milestone is presented as a material positive catalyst for the company’s long‑term value, reducing permitting risk and supporting future production growth.

Key Details

• Licensing: COEMA issued the Licença Prévia (“LP”) – the most critical stage of Brazil’s three‑step mining permit process (LP → Installation License “LI” → Operating License “LO”).
• Phase 1 Impact: LP allows expansion of Phase 1 gold‑in‑oxide plant from current trial‑mining licenses (combined 500,000 t/yr) to full capacity of 1 M t/yr.
• Phase 2 Pathway: With the LP secured, Cabral expects to request the Installation License (LI) and Operating License (LO) for Phase 2 hard‑rock development during March 2026.
• Risk Reduction: Management states the LP “dramatically reduces the risk profile” for both phases, materially de‑risking the project and enhancing long‑term value potential.
• Community Engagement: Two public audience meetings held in August 2025 in Itaituba and the Cuiú Cuiú community achieved 100% approval, supporting the permitting outcome.
• Resource Summary (for context):
• Indicated resources – Fresh basement: 12.29 Mt @ 1.14 g/t Au (≈450,200 oz)
• Indicated resources – Oxide material: 13.56 Mt @ 0.50 g/t Au (≈216,182 oz)
• Inferred resources – Fresh basement: 13.63 Mt @ 1.04 g/t Au (≈455,100 oz)
• Inferred resources – Oxide material: 6.4 Mt @ 0.34 g/t Au (≈70,569 oz)

Notable Quotes

• Alan Carter, President & CEO: “The granting of the LP for the Full Mining Licence at Cuiú Cuiú is a major milestone… The LP dramatically reduces the risk profile for both phases of development of the project.”