Cabral Gold Inc. announced assay results from an additional 13 RC holes testing near-surface oxide material at the Central gold deposit, and nine shallow auger holes from the MG gold deposit, Cuiú Cuiú gold district in northern Brazil. These holes are part of a drill program designed to expand and upgrade the oxide resources at both the Central and MG gold deposits. Central RC Drill Results: The Central gold deposit is one of the two main gold deposits 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 highly weathered basement saprolite averaging approximately 60m. The weathered mineralized basement saprolite is overlain by sediments which form a blanket. The blanket material contains gold and is derived from the chemical and physical weathering of the underlying saprolite basement gold mineralization. Whilst the bulk of the gold resources at Central are contained within the underlying primary (un- weathered) basement material, the overlying oxide material currently contains Indicated Resources of 3.49Mt @ 0.6 g/t gold (65,400oz) and Inferred Resources of 3.36Mt @ 0.4 g/t gold (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 and MG is designed to expand and delimit these resources within the near-surface saprolite and blanket material. Cut-off grades of 0.14 g/t gold and 0.26 g/t gold were used for the 2022 open pit resource estimate for blanket/saprolite and fresh-rock mineralization, respectively. Holes RC386 to RC398 were all drilled within the overall outline of the oxide resource at Central to a maximum depth of 90m. RC390 was designed to test the north eastern part of this section. Drill results from adjacent sections at Central, for example RC384 which was drilled on section N21198, 100m further north and returned 23m @ 0.9 g/t gold, suggested the presence of gold mineralization in the overlying blanket sediments and primary saprolite material in this area. RC390 returned 23m @ 1.0 g/t gold from 5m depth in saprolite, and encountered 3m @ 0.6 g/t gold from surface in the unconformably overlying blanket. This saprolite intercept is interpreted to be the same mineralized zone that was intersected by hole RC384 drilled 100m further north. Section N20845: Hole RC391 was drilled on section N20845 in the southern part of the Central gold deposit. Previous drilling on this section returned remarkably consistent gold values in the overlying blanket soils and sediments of 0.6 to 0.7 g/t gold, for example 18.3m @ 0.7 g/t gold from surface in DDH265. RC391 returned 13m @ 1.4 g/t gold from 51m depth. This is interpreted to be the same mineralized zone that was intersected by hole DDH267 which returned 12.8m @ 1.0 g/t gold within unweathered primary basement granitic rocks, and indicates the presence of gold values of +1 g/t in saprolite on this
section. These grades are significantly better than grades obtained from other holes that tested the saprolite on this section. There was no material recovered by drilling in the top 14m of the hole but that interval is expected to be mineralized based on results from adjacent holes, i.e. DDH265 and DDH266 which returned 18.3m @ 0.7 g/t gold and 12m @ 0.7 g/t gold from surface, respectively. MG Auger Drill Results: The MG gold deposit is the second of the two main gold deposits that have been identified to date at Cuiú Cuiú. As with the nearby Central gold deposit, the upper portion of the MG gold deposit is
extensively weathered resulting in a vertical profile of approximately 60m 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 of the underlying saprolite basement gold mineralization. Whilst the bulk of the gold resources at MG are contained within the underlying primary (unweathered)
basement material, the overlying oxide material currently contains Indicated Resources of 5.78Mt @ 0.5 g/t for 88,300oz, and Inferred Resources of 1.19Mt @ 0.3 g/t for 12,300oz. A significant amount of higher-grade material (greater than 1.75g/t gold) is contained within these resources and the recent RC and auger drill program at MG is designed to expand these resources within the near-surface saprolite and blanket material. Recent RC drill results from MG reported as part of the current program have returned some very significant results in the oxidized near-surface blanket sediments and underlying saprolite including hole
RC343 which returned 27m @ 1.9 g/t gold from surface, RC342 which returned 28m @ 1.8 g/t gold from surface, RC375 which returned 20m @ 1.6 g/t gold from surface including 9m @ 1.7 g/t gold and RC376 which returned 15m @ 1.8 g/t gold from 5m depth. Nine auger holes are reported here with results from TR657 to TR665. Section 553500: Auger hole TR665 was drilled on section 553500. Previous diamond and RC drilling on this section had outlined an area of consistent mineralization in the blanket sediments in the order of 0.5 g/t gold, for example, RC315 returned 46m @ 0.5 g/t gold and RC134 which returned 26m
@ 0.5 g/t gold). TR665 was drilled further to the north-east and returned significantly higher gold values than expected
including 19m @ 1.3 g/t gold from surface including 2m @ 8.0 g/t gold from 10m depth. The hole ended in mineralization. These results suggest the presence of a zone of higher-grade gold mineralization than previously anticipated on this section in the near-surface blanket sediments.