Cabral Gold expands the gold-in-oxide blanket at PDM target and discovers two gold zones at PDM Target, Cuiu Cuiu Gold District, Brazil

Cabral Gold Inc. [TSXV: CBR; OTCQB: CBGZF] reported drill results from 10 RC drill holes and six diamond drill holes recently completed at the PDM target located 2.5km northwest of the Central gold deposit and within the Cuiu Cuiu district project, Brazil.

Highlights: Drill hole RC0579 intersected 6 metres at 2.74 g/t gold from 9 metres depth in saprolite Including 1 metres at 13.06 g/t gold from 10 metres depth.

Multiple zones of lower grade gold mineralization were also intersected within near-surface saprolite material at PDM, including 11 metres at 0.88 g/t gold from 26 metres depth in saprolite in RC0573; 10m at 0.39 g/t gold from surface in saprolite in RC575; 6 metes at 1.46 g/t gold from 11 metres depth in saprolite including 1m at 7.98 g/t gold in RC58; 9m at 0.50 g/t gold from surface plus 5m at 1.96 g/t gold from 41m depth, including 1m at 9.08 g/t gold in DDH334; 2.75m at 3.05 g/t gold from 123.25m depth in saprolite in DDH335; 12.7m at 0.50 g/t gold from 10.3m depth in saprolite in DDH337 and 13m at 0.54 g/t gold from surface in blanket sediments including 1.4m at 3.17 g/t gold from 7.4m depth in DDH338.

Recent drilling at the PDM target has now expanded the surface area of the gold-in-oxide mineralized blanket by 50% from 0.26 km² to 0.39 km² which is expected to have positive implications for the existing gold-in-oxide resource base at PDM.

Drilling in the primary mineralization below the gold-in-oxide blanket has also added 2 new zones of mineralization which are NW-SE trending, are parallel to the existing mineralized zones, extend at least 600 metres along strike and are open to the north and south.

Alan Carter, President and CEO, commented, “These latest drill results from the PDM target at Cuiú Cuiú have extended the surface extent of the gold-in-oxide blanket by 50% indicating a significantly larger gold-in-oxide resource base. This is important given that the existing resource base at PDM was not included in the recently released updated PFS study for the gold-in-oxide starter operation.

“Of greater importance; however, is the fact that additional drilling has increased the number of NW trending primary mineralized zones in the underlying intrusive rocks at PDM, from two to four. All of these mineralized zones remain open along strike to the north and south and at depth. Drilling is currently in progress at the previously untested Mutum target where surface trenches average 0.9 to 1 g/t gold in quartz vein stockwork mineralization in altered intrusive rocks. Drilling is also currently in progress at the Machichie and Machichie NE targets.”

The PDM (Pau de Merenda) target is located 2.5km northwest of the Central gold deposit at Cuiú Cuiú within a prominent northwest-trending +100ppb gold-in-soil anomaly, which has been traced for more than 5km along strike, and remains open. The Central gold deposit, as well as the Central SE, Central North, PDM and Mutum targets all lie within this trend.

The objective of the current drill program at PDM is to add ounces to both the current gold-in-oxide resource base, and to calculate a maiden resource for the mineralized zones in the underlying primary intrusive rocks.

Results were recently received on 10 additional RC holes and six diamond drill holes at PDM. All of the holes were completed on three NE-SW sections and were drilled to the north-east. RC holes RC0573 to RC0576 and diamond drill hole DDH340 were all drilled on section 9347060N. Results are pending on two additional drill holes, DDH342 and DDH344 on this section.

Diamond drill holes DDH334 to DDH338 were all drilled on section 9346906N, 200 metres to the south. Of these holes, DDH334 returned 9m at 0.50 g/t gold from surface plus 5m at 1.96 g/t gold from 41m depth including 1m at 9.08 g/t gold.

These drill results suggest the presence of two additional NW trending mineralized zones that are parallel to the two existing mineralized zones known in the primary intrusive rocks at PDM. Of particular significance, is the result from RC0579 which was drilled on section 9346780N and is one of the most southerly holes drilled at PDM. It returned 6m at 2.74 g/t gold from surface including 1m at 13.06 g/t gold from 10m depth. The mineralized zone intersected at the top of this hole is interpreted to be the most southerly extension of one of the main mineralized zones at PDM and extends mineralization 150m further south. All of the mineralized zones remain open to the south and the north.

These recent results suggest the presence of a significantly larger gold-in-oxide mineralized blanket zone which can now be traced over blanket 0.39 km² and includes the Mutum area to the south-east where previous trenching returned gold values including 32 metresat 1 g/t gold, 25.5 metres at 0.9 g/t gold and 16.5 metres at 0.9 g/t gold. This represents a 50% increase on the previous area of the gold -in-oxide blanket at PDM which previously extended over 0.26 km². The blanket area remains open to the north. Reconnaissance RC drilling at the previously untested Mutum target is currently in progress.

Results are pending on two additional diamond drill holes at PDM (DDH342 and DDH344). Drilling is currently in progress with three rigs turning at the Mutum target as well as the Machichie Main and Machichie NE targets. Drilling during recent months at the Machichie NE target returned 12m at 27.7 g/t, including 5m at 65.5 g/t gold, 11m at 33.0 g/t incl. 4m at 89.3 g/t gold, 6m at 13.3 g/t, including 1m at 77.5 g/t gold and 5m at 24.5 g/t, including 2m at 60.5 g/t gold.

Management continues to focus on securing the necessary construction financing for its gold-in-oxide starter operation at Cuiú Cuiú aimed at leaching the near surface mineralized saprolite and soil material. As per the Updated PFS study of July 29, 2025, the construction capex is US$37.7M and the post-tax IRR is 78% with an NPV of US$73.9M with a payback of 10 months based on the base case gold price of US$2,500/oz. The All-in sustaining costs (AISC) are $1,210/oz of gold produced.

In parallel with our work on securing the construction financing, we are continuing our work on completing the detailed engineering for the project. At the same time, we are building out our construction and operating team under Luiz Celaro, our recently appointed Construction Manager.

The company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará, northern Brazil. Three main gold deposits have so far been defined at the Cuiú Cuiú project which contain NI 43-101 compliant Indicated resources of 12.29Mt at 1.14 g/t gold (450,200oz) in fresh basement material and 13.56Mt at 0.50 g/t gold (216,182oz) in oxide material.

The project also contains Inferred resources of 13.63Mt at 1.04 g/t gold (455,100oz) in fresh basement material and 6.4Mt at 0.34 g/t gold (70,569oz) in oxide material. The resource estimate for the primary material is based on the NI 43-101 technical report dated October 12, 2022.

The resource estimate for the oxide material at PDM and MG is based on a NI 43-101 technical report dated October 21, 2024. The resource estimate for the oxide material at Central and Machichie is based on a NI 43-101 technical report dated July 29, 2025.