Mr. Alan Carter reports

CABRAL GOLD ACHIEVES MAJOR PERMITTING MILESTONE WITH THE GRANTING OF THE LP FOR FULL MINING LICENSE AT CUIU CUIU GOLD DISTRICT, BRAZIL

The Environmental Council (COEMA) for the state of Para has issued to Cabral Gold Inc. the licenca previa (LP) for the full mining licence the Cuiu Cuiu gold district, Brazil.

Alan Carter, Cabral's president and chief executive officer, commented: "The granting of the LP for the full mining licence at Cuiu Cuiu is a major milestone for our project and our company, and comes after a lengthy process. It is a validation of the project's strong environmental and social foundations, and follows the successful public audiences held during August, 2025, in the community of Cuiu Cuiu and the city of Itaituba. The LP not only allows for the expansion of our phase 1 gold-in-oxide project, which is currently under construction, but it also applies to the much larger phase 2 project, which will involve the development of the hard rock resources at Cuiu Cuiu. The granting of the LP dramatically reduces the risk profile for both phases of development of the project. With the most complex and time-intensive stage of the Brazilian permitting process now complete, we have materially derisked the project and enhanced its long-term value potential. I would personally like to thank all members of COEMA for their support in granting the licence, and I would also like to take this opportunity to thank and congratulate all of our employees and consultants on achieving this very important milestone."

The announcement by the Para State Environmental Council (COEMA) of the granting of the LP for the full mining licence is a very important milestone for Cabral Gold and its fully owned subsidiary, Magellan Minerais e Prospeccao Geologica Ltda. This dramatically reduces the risk profile of the project and provides a pathway to increasing the scope of the phase 1 gold-in-oxide project, which is currently under construction, from the currently licensed GUs (guia de utilizacao or trial mining licences) with a combined 500,000 tonnes per year to full plant capacity of one million tonnes per year and beyond.

Perhaps more importantly, with the LP in hand for the full mining licence, the permitting risk associated with the phase 2 mining development, aimed at exploiting the hard rock resources at Cuiu Cuiu, is significantly reduced. This results in a clear permitting pathway for the development of the phase 2 mine and is expected to lead to the request of both the LI (installation licence) and the LO (operating licence) for the full mining licence (portaria da lavra) during March, 2026.

The Brazilian mine permitting process consists of three key stages: the licenca previa or preliminary licence (LP), which has now been granted, followed by the installation licence (LI), and, finally, the licence to operate (LO). The LP is the most critical, time-consuming and challenging to secure, as it defines the project's fundamental parameters and requires input and approval from several government agencies, as well as local stakeholders and communities. The process considers in detail the environmental, social, and economic impacts and benefits of the project. The granting of the LP follows two very successful public audiences, which were held during August, 2025, in Itaituba, the municipal capital, and the community of Cuiu Cuiu, both with 100-per-cent approval.

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 contain National Instrument 43-101-compliant indicated resources of 12.29 million tonnes (t) at 1.14 grams per tonne (g/t) gold (450,200 ounces (oz)) in fresh basement material and 13.56 million t at 0.50 g/t gold (216,182 oz) in oxide material. The project also contains inferred resources of 13.63 million t at 1.04 g/t gold (455,100 oz) in fresh basement material and 6.4 million t at 0.34 g/t gold (70,569 oz) 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 at PDM and MG is based on an NI 43-101 technical report dated Oct. 21, 2024. The resource estimate for the oxide material at Central and Machichie is based on an NI 43-101 technical report (updated PFS (prefeasibility study)) dated July 29, 2025.

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.

Qualified person and technical information

Technical information included in this release was supervised and approved by Brian Arkell, BS (geology), MS (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.

We seek Safe Harbor.