Mr. Alan Carter reports

CABRAL GOLD APPOINTS LUIZ CELARO AS CONSTRUCTION MANAGER FOR CUIU CUIU GOLD PROJECT

Cabral Gold Inc. has appointed Luiz Celaro as construction manager for the Cuiu Cuiu heap-leach starter project, effective immediately.

Alan Carter, Cabral's president and chief executive officer, commented: "We are very pleased that Luiz has elected to join our team. He brings a wealth of valuable expertise and experience in terms of building and operating both large and small mining projects in Brazil, particularly heap-leach gold projects. His appointment marks another important step in our transition from a junior exploration-focused company to a junior producer. We look forward to working with Luiz to deliver the updated PFS [preliminary feasibility study] and an anticipated construction decision for our initial heap-leach starter project, in the next few months."

Mr. Celaro is a mining engineer with an MBA in environmental management and has experience and expertise in project leadership, construction and operations in the mining and metals sector. He has previously held various positions at Vale, including vice-president based in New York. Mr. Celaro has managed seven gold mining projects of varying scales, including six on mine construction projects, several of which were heap-leach gold projects. With a record of driving large-scale mining projects to completion across Brazil, Mozambique and Guyana, Mr. Celaro is experienced in leading teams and optimizing operations to deliver projects on time and within budget while ensuring compliance with safety, environmental and social standards.

Mr. Celaro was educated at the University of Nottingham, United Kingdom, and the Universidade Federal do Rio Grande do Sul, Brazil. He also has an MBA in environmental management from the Fundacao Getulio Vargas, Brazil.

Mr. Celaro has extensive experience of building and operating heap-leach gold projects in tropical environments. Specifically, he was the senior construction manager at the Amapari project in northern Brazil, which, at that time (2004 to 2006), was the largest heap-leach gold project in Brazil. In addition, he was the project director at the Aurizona gold project (now owned by Equinox Gold) from mid-2006 until early 2010. More recently, he was the director for Fides Mining, a private Brazilian company, which developed and operated the Mina Uniao heap-leach gold project near Peixoto in northern Matto Grosso.

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. Three main gold deposits have so far been defined at the Cuiu Cuiu project, which contains National Instrument 43-101-compliant indicated resources of 12.29 million tonnes at 1.14 grams per tonne gold (450,200 ounces) in fresh basement material and 11.11 million tonnes at 0.48 gram per tonne gold (171,883 ounces) in oxide material. The project also contains inferred resources of 13.63 million tonnes at 1.04 grams per tonne gold (455,100 ounces) in fresh basement material and 12.22 million tonnes at 0.39 gram per tonne gold (151,608 ounces) in oxide material. The resource estimate for the primary material is based on the NI 43-101 technical report dated Oct. 12, 2022. The resource estimate for the oxide material is based on an NI 43-101-compliant estimate released on Oct. 21, 2024.

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 gold workings in the Tapajos province and produced an estimated two million ounces of placer gold historically.

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