Mr. Alan Carter reports

CABRAL GOLD ESTABLISHES TECHNICAL ADVISORY COMMITTEE

Cabral Gold Inc. has established a technical advisory committee.

Highlights:

• The primary purpose of the technical committee is to review, monitor and make recommendations to the board of directors in respect of the technical activities of the company, including those relating to the continuing prefeasibility study for trial mining of oxide gold deposits within the company's Cuiu Cuiu gold district in northern Brazil.
• The technical committee comprises independent directors Dr. Jon Gilligan and Ian Gendall, independent consultant Mark E. Smith, and Cabral's executive chairman, P. Mark Smith.
• Independent director Dr. Gilligan, who is currently president and chief operating officer of Liberty Gold Corp., has been appointed chairman of the technical committee.
• Mark E. Smith is president of RRD International Corp. and is an internationally recognized expert in heap leach mineral processing with wide experience in South America, having worked on projects in Brazil, Peru and Chile.

Alan Carter, Cabral's president and chief executive officer, commented: "We are extremely pleased to announce the formation of the technical committee, which will assist management and the board in providing oversight regarding technical matters and the advancement of the company's Cuiu Cuiu gold district, specifically with respect to the completion of the ongoing prefeasibility study. In particular, the recent addition of Jon Gilligan to the board, his agreement to chair the technical committee and the inclusion of Mark E. Smith on the committee greatly expands the company's depth of expertise in the development, construction and operation of heap leach projects."

Dr. Gilligan

Dr. Gilligan is an independent director of Cabral and is currently president and chief operating officer of Liberty Gold, a company developing open-pit, heap leach oxide gold projects in Idaho and Utah, United States.

Dr. Gilligan is a senior mining executive with over 35 years of multicommodity, international experience across technical services, capital projects, open-pit mine construction and operations. Prior to joining Liberty Gold, he held senior technical and projects roles with both Torex Gold Resources Inc., SSR Mining Inc. and BHP. Dr. Gilligan has been instrumental in advancing many mining operations around the world, including the Marigold open-pit heap leach operation, Nevada, U.S.; Chinchillas open-pit mine, Argentina; Olympic Dam expansion project, South Australia; Escondida mine, Chile; and the Escondida Norte open-pit copper mine, Chile.

Mark E. Smith

Mark is president of RRD International Corp. and has been working in base and precious metals mining and processing for over 40 years with a focus since the late 1990s on South America. He managed the Vector engineering team in Lima for 10 years. His South American heap leach clients have included Brazilian Nickel and Vale in Brazil; Barrick in Peru, Chile and Argentina; BHP in Colombia, Peru, Chile and Guatemala; Minsur in Peru; Milpo in Peru; Glencore in Chile; Goldcorp in Chile; Kinross in Chile; Coldelco in Chile and Peru; Freeport in Peru; Rio Tinto in Peru; Xstrata in Peru and Chile; Group Mexico in Peru; and Anglo American in Chile and Brazil.

Mark's wet climate heap leach experience includes: Piaui nickel (Piaui, Brazil); Area 118 copper (Para, Brazil); Cristalino copper HL (Brazil); Cerro Matoso nickel (Colombia); Trapiche copper (Peru); Newmont gold (Peru); Pierina gold (Peru); La Granja copper (Peru); La Arena gold (Peru); Lagunas Norte gold (Peru); Acoje nickel (Philippines); Hallmark nickel (Indonesia); Merdeka nickel (Indonesia); and Gag Island nickel (Indonesia). In addition, he worked on several non-heap leach projects in the high-rainfall areas of Brazil, including Vermelho HPAL nickel, Salobo copper, Coringa gold and Minas Rio iron.

Mark is a registered civil, geotechnical and structural engineer, and has published dozens of papers on heap leaching, tailings management and mine closure.

Mr. Gendall

Mr. Gendall is an independent director of Cabral and is currently president and CEO of DLP Resources Inc. Mr. Gendall is a geologist with over 32 years experience in South Africa, South America, Canada, Mexico and the U.S., and has led and managed exploration teams and evaluated copper and gold projects for previous companies such as Gencor, Billiton, Anglo American, Antofagasta and, more recently, OceanaGold.

Mr. Gendall led the Billiton Exploration team which was credited with the major porphyry copper discoveries in southeast Ecuador which were subsequently optioned to Corriente Resources Inc., which was subsequently taken over by CRCC-Tongguan Investment Co. Ltd. for $679-million in 2010.

Mr. Gendall has extensive experience in Brazil and the Tapajos gold province, having previously managed programs for Chapleau Resources and Magellan Minerals. During this time he oversaw and managed the resource estimation and preliminary economic assessment study for the Coringa gold project in Brazil which is currently operated by Serabi Gold.

P. Mark Smith

P. Mark Smith is a geologist and is executive chairman of Cabral.

Mark has more than 40 years of experience in the industry with expertise ranging from exploration, mining, research, advising and arranging financings. Mark started his career as a geologist in the mining and exploration industry and throughout his career became a senior mining analyst and later a managing director investment banker. He spent 20 years working for several mining companies including Cominco, and the mineral deposits section of the Ontario Geological Survey before transitioning into the brokerage industry in 1997. For the next 11 years he worked as a mining analyst with Marleau-Lemire, C.M. Oliver, First Associates and Dundee Securities, specializing in gold. Over the next decade Mark was an investment banker with Dundee Securities, Stifel Nicolas and M Partners where he provided financial, technical, marketing, general corporate and strategic advice as well as arranged financing for private and public companies in the mining and exploration sector.

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-per-cent interest in the Cuiu Cuiu gold district located in the Tapajos region, within the state of Para in northern Brazil. Two main gold deposits have so far been defined at the Cuiu Cuiu project which contains National Instrument 43-101 compliant indicated resources of 21.6 million tonnes at 0.87 gram per tonne gold (604,000 ounces) and inferred resources of 19.8 Mt at 0.84 g/t gold (534,500 oz) as per the NI 43-101 technical report dated Oct. 12, 2022.

The Tapajos gold province is the site of the largest gold rush in Brazil's history which according to the ANM (Agencia Nacional de Mineracao or National Mining Agency of Brazil) produced an estimated 30 million to 50 million ounces of placer gold between 1978 and 1995. Cuiu Cuiu was the largest area of placer workings in the Tapajos and produced an estimated two million oz of placer gold historically.

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