Cabral Gold Announces Infill Drilling Results at MG Gold Deposit, Cuiú Cuiú Gold District, Brazil

Cabral Gold Inc. has received results from an initial 24 shallow reverse circulation (RC) holes drilled to target gold-in-oxide material at the MG starter pit within the Cuiú Cuiú Gold District in Brazil. The infill program is designed to improve confidence in the current mine plan at MG and support an upgrade to the gold-in-oxide reserve ahead of mining.

Infill drilling results at MG

The company reported results from 24 infill RC holes targeting gold-in-oxide material in the eastern and central parts of the MG starter pit. Cabral said the program is intended to increase confidence around the current mine plan and upgrade the reserve base. To date, 68 RC holes totaling 3,174 metres have been completed on a 25 x 25-metre spacing, with additional infill drilling planned on a 12.5 x 12.5-metre spacing in higher-grade areas.

Notable drill intercepts

Notable results from the initial batch include:

• 48m @ 1.35 g/t gold from 4m depth in RC625
• 17m @ 2.27 g/t gold from surface in RC626
• 42m @ 0.64 g/t gold from surface in RC633
• 50m @ 0.87 g/t gold from surface in RC634
• 50m @ 1.35 g/t gold from surface in RC635
• 14m @ 1.97 g/t gold from surface in RC636
• 29m @ 1.36 g/t gold from surface in RC640
• 33m @ 0.90 g/t gold from surface in RC641

Development and mine planning implications

Cabral said the results confirm pre-existing drill holes and the presence of significant near-surface resources with good-grade material amenable to heap leach. The company stated that the data will be used to update the mine plan for the MG starter pit and to update the gold-in-oxide reserve estimate ahead of mining.

Alan Carter, President and CEO of Cabral Gold, said the first batch of infill drill results is encouraging and confirms good grades over significant widths within near-surface weathered saprolite and overlying blanket sediments. He added that the results will allow the company to refine the starter pit mine plan and update the gold-in-oxide reserve base for MG, improving confidence during the initial year of mining.

Geology, drilling coverage and operational details

Cabral described the MG gold deposit as one of two main gold deposits forming the Indicated and Inferred resource base at Cuiú Cuiú. It said the upper portion of the subvertical MG deposit is extensively weathered, with a vertical profile of highly weathered basement saprolite extending to 60 metres depth. The saprolite, together with overlying blanket sediments and soils, is expected to form the starter pit for the Phase 1 gold-in-oxide mining operation, which is due to commence production in Q4 2026.

The company said RC holes RC623 to RC628 were drilled on section 553175E toward the western limit of the Year 1 pit outline, while RC632 to RC637 were drilled on section 553275E in the western central part of the Year 1 pit. It also noted that three holes (RC625, RC635 and RC644) returned narrow intervals of higher-grade material that will be separated and stockpiled during gold-in-oxide mining for processing at a later date.

Exploration drilling update

In addition to the ongoing RC infill program at MG, Cabral said its broader drilling efforts are focused on exploration of underlying hard rock deposits at Cuiú Cuiú. The company reported that two rigs are currently operating and that an additional RC rig is expected on site by mid-April, bringing the total number of drill rigs on site to four. Cabral also said it anticipates expanding exploration drilling following the closing of a C$20 million bought deal financing announced on March 25, 2026, with further details on the remainder of 2026 to be released in the coming weeks.