Vancouver, British Columbia–(Newsfile Corp. – December 9, 2021) – Cabral Gold Inc. (TSXV: CBR) (OTC: CBGZF) (“Cabral” or the “Company“) is pleased to provide assay results from five diamond-drill holes completed at the MG gold-in-oxide blanket, and also results from reconnaissance drilling at the Alonso target within the Cuiú Cuiú gold district in northern Brazil.

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Highlights are as follows:

• Reconnaissance stream-sediment sampling has identified a new gold anomaly in streams 750m NE of the Alonso target and 3.4km ESE of the MG gold deposit

• The new anomaly has been named Escondido and is very similar to the geochemical and magnetic anomaly which define the MG gold deposit. Five recently completed reconnaissance drill holes at the Alonso target did not intercept any significant gold values of interest, suggesting that the primary source of the boulders is farther afield than previously anticipated, possibly the Escondido area

• Diamond-drill hole MET04 drilled for metallurgical testing at the gold-in-oxide blanket at MG returned70.8m@ 1.0 g/t goldfrom surface, including17.0m @ 3.3 g/t goldfrom 41.0m depth. Similarly, diamond-drill hole MET05 returned43.6m @ 1.4g/t goldfrom surface

• Diamond-drill hole MET03 also completed at the gold-in-oxide blanket at MG returned54.0m @ 0.7 g/t goldfrom surface, including21.8m @ 1.4 g/t gold,anddiamond-drill hole MET02 returned13m @ 0.9 g/t goldfrom surface and21.7m @ 0.8 g/t goldfrom 32.2m depth

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Cabral Gold management comments

“We are extremely pleased with the assay results received on the five metallurgical test diamond drill holes recently completed at the MG gold-in-oxide blanket and look forward to receiving the results of the metallurgical test work during the first quarter of 2022, which will be key to understanding the economic viability of the blanket mineralization.

 

“The diamond drill results from the Alonso target suggest that the high-grade boulders that we see on surface at Alonso are not derived from the immediate vicinity and may have been eroded from a source that is located further away than we previously anticipated.

 

“The identification of a major gold anomaly in streams which is coincident with a major E-W trending magnetic anomaly, 750m north-east of Alonso, opens up the possibility of a more distal source for the high-grade boulders.

 

“The fact that our exploration team continues to identify highly prospective targets in parallel with the drilling efforts is very encouraging and demonstrates the enormous potential of the Cuiú Cuiú gold district.

 

“Cuiú Cuiú is a district which contains 43 mainly high-grade targets outside the two known gold deposits with resources. Cabral currently has four rigs turning on three separate targets.”

Alan Carter, Cabral Gold President and CEO

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Alonso Area Diamond Drilling and Reconnaissance Exploration

The Alonso target is located approximately 3.4km SE of the MG gold deposit and is characterized by numerous high-grade mineralized boulders that were found on surface.

These boulders previously returned very high gold values of11.3 to 200.3 g/t gold(see press release dated February 11, 2020).

Figure 1: Map showing the location of the Alonso target and the major new Escondido gold anomaly in streams north-east of Alonso, as well as the MG and Central gold deposits and the overlying MG gold-in-oxide target, as well as the Pau de Merenda (PDM) gold-in-oxide blanket and other key targets within this part of the Cuiú Cuiú district