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Cabral Gold Inc. (TSXV: CBR,OTC:CBGZF) (OTCQX: CBGZF) ("Cabral" or the "Company") is pleased to announce the appointment of Jon Gilligan as Non-Executive Chair of the Company, effective immediately.
Alan Carter, Cabral's President and CEO commented, "I am very pleased that Jon has agreed to accept the role of non-executive Chair of the Company. Since joining the Board in August 2023, Jon has had a significant impact in the growth and development of this Company. Amongst Jon's many contributions over the last two and a half years, is the establishment of a Technical Committee which has provided invaluable guidance and advice in the development of the Phase 1 heap leach operation, which is now under construction. I look forward to working with Jon and the rest of the Cabral Board and management team, as we continue to build on our recent achievements and we work towards initial production later this year, and continue to define the larger Cuiú Cuiú district."
Jon Gilligan, Non-executive Chair and Director commented "I am honored to serve as Non-Executive Chair at this important moment for Cabral. We have assembled highly capable technical and construction teams in Brazil and have rigorous processes in place that are already translating into momentum on the ground. Phase 1 heap leach construction is advancing and we see a clear path to initial production later this year. Our focus is safety, disciplined execution, strong governance and community engagement. Our goal is to pair operational excellence with the exploration needed to realize Cuiú Cuiú's broader district-scale opportunity. Working with Alan and the Board, we intend to unlock the full potential of the Cuiú Cuiú district, while creating long term value for our shareholders and local communities."
Dr. Jon Gilligan has more than 40 years experience in the mining industry and a PhD in Economic Geology (gold) out of Southampton University, UK. He is currently the President, CEO & Director of Liberty Gold, which is developing a large-scale, open pit, heap leach gold project at Black Pine in Idaho, USA. He previously held senior positions with Torex Gold, SSR Mining, and BHP. Jon has extensive experience in advancing, building and operating open pit mines around the world including the Marigold open pit, heap leach operation, Nevada, USA; Chinchillas open pit mine, Argentina; Olympic Dam Expansion Project, South Australia and the Escondida and Escondida Norte mines in Chile. He was previously Manager Mine Operations at the giant Escondida Norte copper mine in Chile. Jon has a proven track record of building high-performance exploration, development and operational mining teams in challenging environments across the globe.
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/281083
