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Cabral Gold Inc. (TSXV: CBR,OTC:CBGZF) (OTCQX: CBGZF) ("Cabral" or the "Company") is pleased to announce the first gold pour at Cabral's 100% owned Phase 1 Cuiú Cuiú mine in Brazil.
Commissioning of the dry circuit at the Cuiú Cuiú mine was completed in July 2026 (see press release dated August 13, 2026). Commissioning of the wet circuit is now nearing completion, well ahead of schedule. As part of this commissioning process, Cabral has successfully completed the first gold pour which produced approximately 1,130 oz of gold (see Figure 1).
Figure 1: Gold dore resulting from first gold pour at the Cuiú Cuiú mine, Brazil.
Note Magellan is Cabral's 100% owned subsidiary in Brazil
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In achieving this significant milestone, the Cuiú Cuiú mine has become the newest producing gold mine in Brazil, and Cabral has joined the ranks of the industry's producers.
Cabral is now focused on ramping up mining and ore stacking operations at Cuiú Cuiú, targeting a stacking rate of 3,000 tonnes per day and commercial production by the end of 2026. Once through this ramp-up phase, Cabral expects to issue formal production guidance for the 2027 calendar year.
Alan Carter, President & CEO, commented: "This pivotal moment for Cabral is the culmination of a lengthy process and is a first step in our journey aimed at unlocking the potential of the entire Cuiú Cuiú district. This achievement speaks to the discipline, execution capability and determination of our entire team, who have delivered the Phase 1 heap leach operation ahead of schedule. We have moved from exploration and engineering through development and into production, creating value for our shareholders, local partners and communities, while maintaining our commitments to safety, environmental stewardship and local economic participation.
I would like to personally thank and congratulate every member of the team who helped make this milestone possible, particularly Luiz Celaro, our VP Operations who has managed the construction process on site. Our focus now turns to ramping up to commercial production, optimising recoveries and reducing unit costs. This milestone is only the beginning. We will continue to grow responsibly and focus on the creation of long-term benefits for our shareholders and our community."
John Sestan, Vice President Project Development of Cabral, commented: "It has been a privilege to lead our team of professionals taking the project from concept stage in 2023 to the first gold pour in under three years. Our Phase 1 project, which processes gold-in-oxide material, has been shaped by continuous improvement and optimization while holding to a very tight schedule to first production and cash flow.
The completed Phase 1 operation includes several low-cost, readily available expansion opportunities that we are assessing. It also provides an operating base, along with valuable local project development and construction experience, that should simplify and de-risk the planned expansion into the significant hard rock Phase 2 component of our development strategy."
About Cabral Gold Inc.
The Company is a junior resource Company engaged in the exploration, development and near-term production from 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 NI 43-101 technical report ("Updated PFS") dated July 29, 2025. The Company is currently engaged in the commissioning of its Phase 1 gold-in-oxide heap leach operation based on the NI 43-101 technical report PFS.
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.
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