Announcement • May 26
Cabral Gold Announces Additional Results Of Infill Drilling At The MG Gold Deposit
Cabral Gold Inc. announced results from 32 additional reverse circulation ("RC") infill drill holes from gold-in-oxide material at the MG starter pit within the Cuiú Cuiú Gold District, Brazil. Results have been received on an additional 32 infill RC holes targeting the gold-in-oxide material in the eastern and central parts of the MG starter pit. The program of infill drilling is aimed at improving the confidence around the current mine plan at MG and upgrading the current reserve. A total of 158 infill RC holes at MG totalling 5,573m have now been completed. Assay results are pending on the remaining 76 infill holes at MG. Notable results from this batch of RC drill results from MG include; 19m @ 0.65 g/t gold from surface in RC674 and 10m @ 1.40 g/t gold in RC674, 27m @ 0.54 g/t gold from surface in RC675, 35m @ 0.50 g/t gold from surface in RC680, 39m @ 0.70 g/t gold from surface in RC681, 36m @ 1.07 g/t gold from surface in RC687, 25m @ 4.35 g/t gold from surface in RC690, 25m @ 1.00 g/t gold from surface in RC691, 25m @ 0.86 g/t gold from surface in RC692, 13m @ 1.37 g/t gold from surface in RC694, 25m @ 0.63 g/t gold from surface in RC697, 25m @ 0.65 g/t gold from surface in RC698, 21m @ 1.60 g/t gold from surface in RC699, 17m @ 0.62 g/t gold from surface in RC700, 17m @ 0.65 g/t gold from surface in RC702. The MG gold deposit is one of the two main gold deposits that currently comprise the Indicated and Inferred resource base at Cuiú Cuiú. As with the nearby Central gold deposit, the upper portion of the subvertical MG gold mineralization is extensively weathered resulting in a vertical profile of saprolite extending to 60m depth. This saprolite together with the overlying blanket sediments and soils, which are also mineralized, will form the starter pit for the Phase 1 gold-in-oxide mining operation which is due to commence production in Fourth Quarter 2026. The objective of the RC infill drill program at MG was to provide greater confidence in the grade and continuity of the current reserve at MG ahead of mining and to further refine the mine plan that was developed as part of the PFS study release in July 2025. Results have been received on an additional 32 infill RC holes targeting the gold-in-oxide material in the eastern and central parts of the MG starter pit. These follow the receipt of results from an initial 24 infill RC holes reported on April 7, 2026 and 30 infill holes reported on May 7, 2026. The program of infill drilling was aimed at improving the confidence around the Year 1 mine plan at MG and upgrading the current resource by the end of this month. The infill drilling program at MG has completed a total of 158 RC holes totalling 5,573m. The RC drill results reported to date confirm the presence of good grades within the weathered saprolite and overlying sedimentary blanket and the Year 1 pit outline. Of particular note are the following RC drill results; 19m @ 0.65 grams per tonne ("g/t") from surface and 10m @ 1.40 g/t gold in RC674, 27m @ 0.54 g/t gold from surface in RC675, 35m @ 0.50 g/t gold from surface in RC680, 39m @ 0.70 g/t gold from surface in RC681, 36m @ 1.07 g/t gold from surface in RC687, 25m @ 4.35 g/t gold from surface in RC690, 25m @ 1.00 g/t gold from surface in RC691, 25m @ 0.86 g/t gold from surface in RC692, 13m @ 1.37 g/t gold from surface in RC694, 25m @ 0.63 g/t gold from surface in RC697, 25m @ 0.65 g/t gold from surface in RC698, 21m @ 1.60 g/t gold from surface in RC699, 17m @ 0.62 g/t gold from surface in RC700, 17m @ 0.65 g/t gold from surface in RC702. All of the holes reported herein were also drilled within the Year 1 pit. These results are in line with the existing MG mine plan and confirm the pre-existing drill hole results and validate the geological model demonstrating the presence of significant near surface resources with good grade material amenable to heap leach. The MG gold deposit is one of the two main gold deposits that currently comprise the Indicated and Inferred resource base at Cuiú Cuiú. The upper portion of the subvertical MG gold mineralization is extensively weathered resulting in a vertical profile of saprolite extending to 60m depth. This saprolite together with the overlying blanket sediments and soils, which are also mineralized, will form the starter pit for the Phase 1 gold-in-oxide mining operation which is due to commence production in Fourth Quarter 2026. The RC infill drill program at MG was to provide greater confidence in the grade and continuity of the current reserve at MG ahead of mining and to further refine the mine plan that was developed as part of the PFS study release in July 2025. The infill drilling program at MG has completed a total of 158 RC holes totalling 5,573m. The RC drill results reported to date confirm the presence of good grades within the weathered saprolite and overlying sedimentary blanket and the Year 1 pit outline. The results are in line with the existing MG mine plan and confirm the pre-existing drill hole results and validate the geological model demonstrating the presence of significant near surface resources with good grade material amenable to heap leach. The Company is currently engaged in the construction of a Phase 1 gold-in-oxide heap leach operation based on the NI43-101 technical report PFS and expects to enter commercial gold production in Fourth Quarter 2026.
