Mr. Alan Carter reports

CABRAL GOLD APPOINTS BRIAN ARKELL AS VICE PRESIDENT EXPLORATION AND TECHNICAL SERVICES

Cabral Gold Inc. has appointed Brian Arkell as vice-president, exploration and technical services, effective immediately.

Alan Carter, Cabral's president and chief executive officer, commented: "We are both excited and fortunate to have Brian join our team. We believe his extensive experience with gold exploration and, in particular, mine development and operations, will be invaluable as we advance the current prefeasibility study aimed at mining and heap-leach processing the extensive gold-in-saprolite material at our Cuiu Cuiu project. Brian's appointment is part of our planned transition from a junior exploration company to a junior gold producer, and his previous experience with Newmont Mining augers well for the longer-term objective of defining the extensive gold endowment of the Cuiu Cuiu district. To date Cabral has discovered and delineated two main gold deposits with NI 43-101 compliant resources, made two additional significant gold discoveries that require more drilling prior to defining resources, and defined 43 high-quality exploration targets with gold showing in drill holes, trenches and surface boulders."

Mr. Arkell studied geology and engineering at the University of Maryland (BS) and the New Mexico Institute of Mining and Technology (MS). He has 35 years of experience in exploration, mine development and operations throughout the Americas and in Indonesia. He has played a key role in several major gold discoveries and mine development projects including the world-class Yanacocha gold mine in Peru, the Batu Hijau copper-gold mine in Indonesia, the Merian gold mine in Suriname and the Magino gold mine in Canada.

From 2018 to 2023 Mr. Arkell served as vice-president, exploration and mine technical services, for Argonaut Gold, a mid-tier gold producer. During this time, he was responsible for all exploration, mine planning, mine geology, corporate reserves and corporate land departments. This involved five gold mines and several projects, ranging from scoping through feasibility-level stages. Prior to that, he was CEO for Caza Gold Corp., senior vice-president, exploration and corporate development, for Rio Novo Gold Inc., and spent 22 years with Newmont Mining Corp. where he held a variety of positions, including director of geology and exploration, South America.

Mr. Arkell is a registered member of SME, a fellow of AusIMM and a fellow of the Society of Economic Geologists. He is a qualified person (QP) under Canadian National Instrument 43-101 Standards, as well as a competent person under Australian JORC Code.

Mr. Arkell replaces Guillermo Hughes who retired from the role of vice-president, exploration, with Cabral effective March 31, 2024. Both the management team and the board of directors wish to thank Mr. Hughes for his invaluable contribution to the exploration and development of the Cuiu Cuiu project and wish him a very happy and well-deserved retirement.

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 million tonnes at 0.84 g/t gold (534,500 ounces) as per the 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 ounces of placer gold historically.

Mr. Hughes, MAusIMM and FAIG, a consultant to the company as well as a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

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