Cabral Gold Inc. announced drill results from the first eight RC holes from the Central gold deposit that are part of the ongoing drill program currently being conducted at both the Central and MG gold deposits within the Cuiú Cuiú gold district in northern Brazil. The Central gold deposit is one of the two main gold deposits that have been identified to date at Cuiú Cuiú. As with the nearby MG gold deposit, the upper portion of the Central gold deposit is extensively weathered resulting in a vertical profile of approximately 60m on average of highly weathered basement saprolite.

The weathered mineralized basement saprolite is overlain by mud, soil and colluvium material which forms a blanket. All of the blanket material contains gold and is derived from the chemical and physical weathering the underlying saprolite basement gold mineralization. The bulk of the gold resources at Central are contained within the underlying primary (un-weathered) basement material (see the NI 43-101 report dated effective July 31, 2022).

The overlying oxide material currently contains Indicated Resources of 3.49Mt @ 0.6 g/t (65,400oz) and Inferred Resources of 3.36Mt @ 0.4 g/t (44,800oz). A significant amount of higher-grade material (greater than 1.75g/t gold) is contained within these resources and the current drill program at Central is designed to expand these resources within the near-surface saprolite and blanket material. Holes RC350 to RC357 were all drilled within the overall outline of the oxide resource at Central to a maximum depth of 97m.

Drill holes RC354, RC355, RC356, and RC357 were all drilled on section N21295 in the northern part of the Central deposit . This was a section wherein the weathered oxide saprolite and blanket material had not been previously drilled. Hole RC357 intersected 16m @ 5.2 g/t gold from 7.0m depth including 3m @ 23.9 g/t gold from 18m depth.

This zone is interpreted as the up-dip extension of a significant zone of primary mineralization in the underlying primary (unweathered) basement rocks. RC355 and RC356 were drilled 45m to the NE and cut 3m @ 0.3 g/t gold and 8m @ 0.9 g/t gold, respectively, from surface in blanket soils and sediments. RC355 also intersected multiple intercepts in the underlying weathered saprolite material including 3m @ 0.8 g/t from 30m depth, 10m @ 0.6 g/t from 44m depth, 3m @ 0.7 g/t from 60m depth and 9m @ 1.1 g/t from 68m depth.

The hole ended in gold-in-oxide mineralization within saprolite basement. Holes RC352 and RC353 were both drilled on section N21345. RC352 intersected 9m @ 4.6 g/t gold from surface including 3m @ 12.7 g/t gold from 47m depth.

This zone is interpreted to be the same zone intersected in hole RC357 50m to the southeast, and indicates the continuity of a significant zone of high-grade mineralization in near surface saprolite material at Central. RC353 drilled on the same section cut several zones of mineralization in oxidized material including 9m @ 0.4 g/t from surface, 2m @ 0.9 g/t from 16m depth and 4m @ 0.6 g/t from 32m depth. Only one diamond hole (CC-63) and a surface trench (XH0159) had previously tested this section within the oxidized and weathered profile on this section.

Holes RC350 and RC351 were both drilled on section N21400. RC350 was drilled towards the NE and intersected a thicker than expected section of oxide materialization returning 19m @ 0.4 g/t gold from surface in overlying blanket sediments and underlying saprolite material. RC351 was drilled 50m to the SW on the same section in a NE direction and cut several zones of mineralization in oxidized material including 1m @ 0.8 g/t from 33m depth, 2m @ 0.8 g/t from 49m depth and 1m @ 1.6 g/t from 54m depth.

No previous drilling had been conducted on this section within the oxidized and weathered profile. These drill results and those that are pending will allow the generation of a more accurate resource model of the oxide mineralization at MG and Central which will form the basis of a proposed mine plan for trial mining. The prefeasibility study on trial mining of the gold-in-oxide resources will consider the exploitation by open-pit mining and heap-leach processing.

The current drill program is ongoing with a total of 55 RC holes and nine shallower power-auger holes completed to date. Results are currently pending on 12 RC holes and nine power auger holes at MG and 29 RC holes at Central.