The Conversation (0)
Cabral Gold Inc. (TSXV: CBR,OTC:CBGZF) (OTCQX: CBGZF) ("Cabral" or the "Company") is pleased to announce that the Environmental Council (COEMA) for the state of Pará has issued the Licença Prévia ("LP") for the Full Mining License at Cuiú Cuiú Gold District, Brazil.
Alan Carter, Cabral's President and CEO commented, "The granting of the LP for the Full Mining Licence at Cuiú Cuiú is a major milestone for our project and our Company and comes after a lengthy process. It is a validation of the project's strong environmental and social foundations and follows the successful public audiences held during August 2025 in the community of Cuiú Cuiú and the city of Itaituba. The LP not only allows for the expansion of our Phase 1 gold-in-oxide project, which is currently under construction, but it also applies to the much larger Phase 2 project which will involve the development of the hard rock resources at Cuiú Cuiú. The granting of the LP dramatically reduces the risk profile for both phases of development of the project. With the most complex and time-intensive stage of the Brazilian permitting process now complete, we have materially de-risked the project and enhanced its long-term value potential. I would personally like to thank all members of COEMA for their support in granting the license, and I would also like to take this opportunity to thank and congratulate all of our employees and consultants on achieving this very important milestone."
The announcement by the Pará State Environmental Council (COEMA) of the granting of the LP for the Full Mining License is a very important milestone for Cabral Gold and its fully owned subsidiary Magellan Minerais e Prospeccao Geologica Ltda. This dramatically reduces the risk profile of the project and provides a pathway to increasing the scope of the Phase 1 gold-in-oxide project, which is currently under construction, from the currently licensed GU's (Guia de Utilizacao or Trial Mining Licenses) with a combined 500,000 tonnes per year to full plant capacity of 1 million tonnes/ year, and beyond.
Perhaps more importantly, with the LP in hand for the Full Mining License, the permitting risk associated with the Phase 2 mining development aimed at exploiting the hard rock resources at Cuiú Cuiu, is significantly reduced. This results in a clear permitting pathway for the development of the Phase 2 mine and is expected to lead to the request of both the LI (Installation License) and the LO (Operating License) for the Full Mining Licence (Portaria Da Lavra) during March 2026.
The Brazilian mine permitting process consists of three key stages: the Licença Prévia or preliminary license ("LP"), which has now been granted, followed by the installation license ("LI") and, finally, the license to operate ("LO"). The LP is the most critical, time-consuming and challenging to secure, as it defines the project's fundamental parameters and requires input and approval from several government agencies as well as local stakeholders, and communities. The process considers in detail the environmental, social, and economic impacts and benefits of the project. The granting of the LP follows two very successful public audiences which were held during August 2025 in Itaituba, the municipal capital, and the community of Cuiú Cuiú, both with 100% approval.
About Cabral Gold Inc.
The Company is a junior resource Company engaged in the identification, exploration, and development of mineral properties, with a primary focus on gold properties located in Brazil. The Company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil. Three main gold deposits have so far been defined at the Cuiú Cuiú project which contain National Instrument ("NI") 43-101 compliant Indicated resources of 12.29Mt @ 1.14 g/t gold (450,200oz) in fresh basement material and 13.56Mt @ 0.50 g/t gold (216,182oz) in oxide material. The project also contains Inferred resources of 13.63Mt @ 1.04 g/t gold (455,100oz) in fresh basement material and 6.4Mt @ 0.34 g/t gold (70,569oz) in oxide material. The resource estimate for the primary material is based on the NI 43-101 technical report dated October 12, 2022. The resource estimate for the oxide material at PDM and MG is based on a NI 43-101 technical report dated October 21, 2024. The resource estimate for the oxide material at Central and Machichie is based on a NI43-101 technical report ("Updated PFS") dated July 29, 2025.
The Tapajós Gold Province is the site of the largest gold rush in Brazil's history which according to the ANM (Agência Nacional de Mineração or National Mining Agency of Brazil) produced an estimated 30 to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer workings in the Tapajós and produced an estimated 2Moz of placer gold historically.
FOR FURTHER INFORMATION PLEASE CONTACT:
"Alan Carter"
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660
Qualified Person and Technical Information
Technical information included in this release was supervised and approved by Brian Arkell, B.S. Geology and M.S. Economic Geology, SME (Registered Member), AusIMM (Fellow) and SEG (Fellow), Cabral Gold's Vice President, Exploration and Technical Services, and a Qualified Person under NI 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "will", "expected" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/287931
