Mr. Alan Carter reports

CABRAL GOLD ANNOUNCES FIRST GOLD SALES FROM PHASE 1 MINE, CUIU CUIU GOLD DISTRICT, BRAZIL

Cabral Gold Inc. has completed its first sale of dore from Cabral's 100-per-cent-owned Cuiu Cuiu gold district in the state of Para, Brazil, to a refinery in Brazil. The project remains on time and budget for commercial production in the fourth quarter of 2026.

Highlights:

• The first gold sale has been completed, successfully confirming the company's mine-to-market arrangements.
• Over 2,400 ounces of gold were sold at an average net realized price in excess of $4,200 (U.S.) per ounce.
• Operation of the dry plant (ore preparation and stacking) transitioned to 24-hour operation with two shifts per day. Operations are proceeding steadily toward commercial production, which is expected during calendar Q4 2026.
• Safety systems and culture continue to be a priority as activities migrate from construction to operations.

Alan Carter, Cabral's president and chief executive officer, commented: "The completion of our first gold sale is an important milestone for Cabral and marks the beginning of revenue generation from the gold-in-oxide starter operation at Cuiu Cuiu. This achievement reflects the strong execution of our Brazilian operating team and confirms that the key elements of the operating chain from mining and processing through to dore shipment and sale are now in place. As we continue to advance the ramp-up, our focus remains on safely increasing throughput and recoveries, building a reliable source of operating cash flow, and progressing expansion opportunities in the phase 1 processing of oxides and the larger phase 2 hard-rock development opportunity at Cuiu Cuiu. I would again like to personally thank and congratulate every member of the team who helped make this milestone possible."

Production update

With the commissioning phase almost complete, the site operations team continues to advance preparations for full-scale production. An early priority was to stabilize the dry stacking rate on the heap-leach pads using one operating shift per day. Having achieved this ahead of schedule, the team decided to bring forward the use of a second shift per day. This has resulted in 24-hour operation at both the dry and wet circuits. Mining operations remain primarily a 12-hour operation, using accumulated ROM (run-of-mine) stockpiles to feed the dry plant during the night shift.

Over the coming months, the priority is to increase daily production rates toward the project's design capacity, after which the company intends to declare commercial production. The project remains on schedule and on budget to complete construction and achieve commercial production in calendar Q4 2026.

Health and safety

The owners team has worked a total of 246,681 hours so far during 2026, while contractors have worked a total of 418,119 hours, resulting in a combined total of 664,800 hours worked. The project has recorded one lost-time incident (LTI) during the year, resulting in a lost-time injury rate (LTIR) of 0.30. The LTIR is defined as lost-time incidents incurred for every 200,000 hours worked. The operations team is focused on safely progressing through the ramp-up phase and carefully managing the work force transition currently under way.

About Cabral Gold Inc.

The company is a junior gold mining company engaged in the exploration, development and production from 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 at 1.14 grams per tonne gold (450,200 ounces) in fresh basement material and 13.56 million tonnes at 0.50 gram per tonne gold (216,182 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 6.4 million tonnes at 0.34 gram per tonne gold (70,569 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 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 prefeasibility study) dated July 29, 2025. The company recently announced its first gold pour at its phase 1 gold-in-oxide heap-leach mining operation, which is based on the NI 43-101 PFS technical report and expects to enter commercial gold production during Q4 2026.

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.

Quality assurance/quality control

Cabral maintains a QA/QC program for all its exploration projects using industry best practices. Key elements of the QA/QC program include verifiable chain of custody for samples, regular insertion of certified reference materials, blanks and duplicates, as well as check assays on results. RC (reverse circulation) samples are split, collected in plastic sample bags and sealed on drill hole location. Drill core is halved by saw cut or slicer (in soft saprolite). RC and core samples are shipped in sealed bags by independent contractor to SGS Geosol Laboratorios in Vespasiano, Brazil, an independent analytical services provider with global certifications for quality management systems (ISO 9001:2015 and ISO 14001:2015 (ABS certificates 32982 and 39911) and ISO/IEC 17025:2017 accreditation (CRL-0386)). Gold analyses are routinely performed by 50-gram fire assay with secondary assay techniques applied on higher-grade samples. Final assay results are validated by Cabral geological staff prior to insertion into the database. Additional information regarding the company's data verification processes is set out in the Cabral NI 43-101 PFS technical report (July, 2025), which can be found on the company's website.

Qualified person and technical information

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

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