Cabral Gold Drills 8.9m @ 5.8 g/t gold and Intersects New Mineralized Zone at Jerimum Cima Target, Cuiu Cuiu Gold District, Brazil

Cabral Gold Inc. (CBR) reported ten additional diamond drill holes from the Jerimum Cima target at its Cuiú Cuiú project in Brazil. DDH411 returned 8.9m @ 5.8 g/t Au from 208.1m, including 1.8m @ 28.4 g/t Au from 212.2m, and is interpreted as a new mineralized zone about 200m south of the main Jerimum Cima zone. DDH411 is described as trending east-west, parallel to the main zone, and open to the east, west and at depth.

DDH393 tested the down-dip extension of the northern-most zone and returned 9.3m @ 2.78 g/t Au from 207.1m, including 1.7m @ 7.2 g/t Au, plus a separate 10.2m @ 1.00 g/t Au interval from 225.0m. DDH396 intersected the same northern-most zone: 8.9m @ 0.50 g/t Au from 195.6m and 11.1m @ 0.58 g/t Au from 241.3m, including 0.7m @ 7.82 g/t Au.

Other holes were peripheral or low-grade in blanket sediments, including 26.0m @ 0.28 g/t, 36.7m @ 0.18 g/t and 34.9m @ 0.24 g/t from surface; DDH394 returned no significant values. True widths may be 50% of actual drill intercepts. All holes were drilled on a bearing of 180 degrees; dips were 55 degrees except DDH393 and DDH394 at 50 degrees.

The company also granted 3,078,000 stock options at $1.35 per share, with 24-month vesting and 5-year exercise term.

Cabral Gold Inc. (CBR) is advancing the construction of a Phase 1 heap-leach mine, with first gold production targeted for the fourth quarter of 2026. The company recently closed a strategic investment at $1.30 per unit.

The company’s existing mineral resources remain unchanged, comprising 12.29 million tonnes at 1.14 grams per tonne of indicated primary material and 13.56 million tonnes at 0.50 grams per tonne of indicated oxide, along with inferred material. These figures do not yet include the Jerimum Cima deposit.

A Phase 1 pre-feasibility study indicates a net present value of US$74 million and an internal rate of return of 78% at a gold price of $2,500 per ounce. The project is projected to yield an average annual production of approximately 18,500 ounces over 6.2 years. The company’s market capitalization is materially above that net present value, implying the stock already prices in significant exploration and Stage 2 optionality.

Recent drilling results provide new data on a new zone, though the intercepts consist of a single hole with modest grade-width substance compared to the Jerimum Cima anchors that previously influenced the stock’s valuation. Drill hole DDH393 serves as a down-dip confirmation, while DDH396 indicates that the northern zone contains low-grade material in places.

Against the backdrop of current valuation and near-term production focus, the latest release is considered incremental. It is not viewed as a thesis-damaging miss, but it does not materially raise the resource scale given the narrow, unconfirmed nature of the parallel intercept.

Cabral Gold Inc. is a Canadian-listed gold company that holds 100% ownership of the Cuiú Cuiú gold district in the Tapajós region of Pará State, northern Brazil. The project is situated adjacent to GMining’s Tocantinzinho open-pit gold mine. The district encompasses three main deposits—Central, MG, and Machichie—along with exploration targets including PDM, Jerimum Cima, Machichie NE, and Mutum.

Current resource estimates indicate 450,200 oz in primary material at 1.14 g/t Au and 216,182 oz in oxide material at 0.50 g/t Au. Inferred resources total 455,100 oz in primary material at 1.04 g/t Au and 70,569 oz in oxide material at 0.34 g/t Au. Probable reserves stand at 6.18 Mt @ 0.65 g/t Au for 128,903 oz, which supports the Phase 1 heap-leach starter operation.

Phase 1 construction was over 90% complete as of mid-August 2026. The company has received the operating licence and targets first gold production for Q4 2026.