Cabral Gold Company (TSXV: CBR; OTCC: CBGZF) Results are reported from an additional 30 shallow reverse circulation (RC) holes drilled to target gold-in-oxide material in an MG start hole within the Cuiú Cuiú gold district, Brazil.
HIGHLIGHTS: Results were obtained on 30 additional RC holes targeting gold-in-oxide material in the eastern and central portions of the MG starter hole. The drilling program aims to improve confidence around the current mining plan at MG and upgrade the existing reserve. A total of 133 RC holes, with a total length of 4,800 metres, out of a total of 155 planned holes, have been completed at MG so far.
Notable results for this batch of RC drill results from MG include 48 meters at 0.65 g/t surface gold in RC647, 23 meters at 1.43 g/t surface gold in RC650, 24 meters at 0.65 g/t surface gold in RC651, 29 meters at 0.90 g/t surface gold in RC652, and 30 meters at 1.45 g/t gold from surface at RC653, 19 meters at 1.80 g/t gold from surface at RC657, 40 meters at 0.70 g/t gold from surface at 3 meters depth at RC662, 31 meters at 0.62 g/t gold from surface at RC665, 46 meters at 1.25 g/t gold from surface at RC671, 21 metres. at 0.65 g/t gold from surface at RC672 and 21m at 0.66 g/t gold. From the surface at RC673.
The company is working to double its exploratory drilling efforts and add three additional drilling rigs at the site, bringing the total number of drilling rigs to six (two RC rigs and four diamond drilling rigs).
Alan Carter, President and CEO, commented: “These infill drill results at MG confirm the presence of good gold grades at large scales within the weathered saprolite and overlying deposits at or near the surface. As we advance construction of the first phase of the oxide gold heap leach process, which is now 70% complete, this data will allow us to further improve our start pit mine plan and update the reserve base for the MG gold oxide deposit.
“This in turn will provide us with greater confidence during the first year of mining at MG. We are also very pleased to announce the decision to add one RC rig and two diamond rigs at Cuiu Cuiu bringing the total number of drilling rigs at the site to 6. The bulk of these drilling operations will be directed to exploring and expanding the global resource reserve.”
MG RC Drilling Results: The MG gold deposit is one of the major gold deposits that currently constitute the indicated and inferred resource base at Cuiú Cuiú. As with the nearby central gold deposit, the top of the subvertical MG gold deposit is extensively weathered resulting in a vertical form of saprolite in the highly weathered basement extending to a depth of 60 m. This saprolite together with the overlying sediments and soil, which has also been mineralized, will form the starting pit for the first phase of the Oxide gold mining operation which is scheduled to begin production in the last quarter of 2026.
The aim of the ongoing RC drilling program at MG is to provide greater confidence in the level and continuity of the existing reserve base at MG prior to mining and to further improve the mining plan developed as part of the PFS Study release in July 2025.
Results were obtained for an additional 30 RC holes targeting gold-in-oxide material in the eastern and central portions of the MG starter hole. This follows the receipt of results from 24 initial holes at MG reported on 7 April 2026. The drilling program aims to improve confidence around the first-year mine plan at MG and raise the current reserve by the end of this month.
A total of 68 RC holes totaling 3,174 meters have been completed to date over 25 x 25 metres. Drilling continues in higher grade areas at 12.5 x 12.5 metres, bringing the total drilling to date at 133 RC holes and 4,800 metres. A total of 155 filling holes are planned for the MG.
RC drill results reported to date confirm good grades within the weathered saprolite, overlying sedimentary blanket and first-year pit outline. Of particular note are the following RC drilling results: 48 meters at 0.65 g/t gold from surface at RC647, 23 meters at 1.43 g/t gold from surface at RC650, 24 meters at 0.65 g/t gold from surface at RC651, 29 meters at 0.90 g/t gold from surface at RC652, 30 meters at 1.45 g/t Gold from the surface at RC653, 19 meters at 1.80 g/t Gold from the surface at RC657, 40 meters at 0.70 g/t Gold from 3 meters deep at RC662, 31 meters at 0.62 g/t Gold from the surface at RC665, 46 meters at 1.25 g/t Gold from the surface at RC671, 21 meters at 0.65 g/t Gold from surface at RC672 and 21m at 0.66 g/t gold From the surface at RC673.
All other holes mentioned here were also drilled within the first year hole.
These results are consistent with the current MG mine plan and confirm pre-existing drill holes and the presence of significant near-surface resources with good quality heap leachable material.
In addition to the RC drilling program at MG, which is expected to be completed by the second week of May, the bulk of the company’s drilling efforts are directed toward exploratory drilling of the underlying hard rock deposits at Cuiú Cuiú.
Following the recent closing of C$20 million offtake financing announced on March 25, 2026, the Company has elected to expand its exploratory drilling efforts, purchased an additional RC drilling rig and also signed a contract to add two additional diamond drilling rigs. This will bring the total number of drilling rigs on site to 6 (two RC rigs and four diamond drilling rigs). Five of the six rigs are now on site, with the premium diamond drilling rig expected to arrive on site by late May.
Drilling remains ongoing at the Jerimum Cima target where exploratory drilling recently returned to 9.5m at 87.4g/t gold and with the arrival of additional drilling rigs, this effort will be expanded with the aim of generating initial oxide gold cap resources and the underlying core mineralized zone.
Drilling is also underway at Mutum and Central, and further drilling is planned at Machichie Main and Machichie NE with the aim of updating the global resource base later this year.
The Company is engaged in the exploration, development and near-term production of gold properties in Brazil. The company owns a 100% interest in the Cuiú Cuiú gold district located in the Tapajós region, within the state of Pará, northern Brazil.
Three major gold deposits have been identified at the Cuiú Cuiú Project which contain NI 43-101 compliant indicated resources of 12.29 million tonnes at 1.14 g/t gold (450,200 oz) in new base material and 13.56 million tonnes at 0.50 g/t gold (216,182 oz) in oxide.
The project also has inferred resources of 13.63 million tonnes at 1.04 g/t gold (455,100 oz) in new base material and 6.4 million tonnes at 0.34 g/t gold (70,569 oz) in oxide. Resource estimate for feedstock is based on Technical Report NI 43-101 dated October 12, 2022. Resource estimate for oxide material in PDM and MG is based on Technical Report NI 43-101 dated October 21, 2024.
The resource estimate for the oxide material at Central and Machichie is based on an NI43-101 technical report (updated PFS) dated July 29, 2025. The Company is currently engaged in construction of the first phase of the oxide gold heap leaching process based on the NI43-101 PFS technical report and expects to enter commercial gold production in the fourth quarter of 2026.
