Cabral Gold Sells First Doré Above US$4,200 Per Ounce, Confirming Cuiú Cuiú Mine-to-Market Chain

• Cabral Gold completed its first sale of doré from the Phase 1 mine at Cuiú Cuiú to a refinery in Brazil, confirming its mine-to-market arrangements.
• The company sold over 2,400 ounces of gold at an average net realized price in excess of US$4,200 per ounce.
• The dry plant, which handles ore preparation and stacking, moved to 24-hour operation with 2 shifts per day.
• Commercial production remains targeted for the fourth quarter of 2026, with the project on time and on budget.
• The project has recorded 1 lost time incident in 2026 across 664,800 combined hours worked, a lost time injury rate of 0.30.

Company Overview

Cabral Gold (TSXV: CBR | OTCQX: CBGZF) is a junior resource company engaged in the exploration, development, and production of gold properties in Brazil, holding a 100% interest in the Cuiú Cuiú gold district in the Tapajós Region of Pará state, northern Brazil. Three main gold deposits at Cuiú Cuiú host resources of 12.29 million tonnes at 1.14 grams per tonne gold (450,200 ounces) in harder, deeper rock and 13.56 million tonnes at 0.50 grams per tonne gold (216,182 ounces) in near-surface material, which the company classifies as Indicated. A further 13.63 million tonnes at 1.04 grams per tonne gold (455,100 ounces) in deeper rock and 6.4 million tonnes at 0.34 grams per tonne gold (70,569 ounces) in near-surface material are classified at a lower confidence level, known as Inferred. These estimates are based on independent technical reports dated October 12, 2022, October 21, 2024, and July 29, 2025. The company has completed its first gold pour and first doré sale at its Phase 1 gold-in-oxide heap leach operation, targeting commercial gold production in the fourth quarter of 2026.

First Doré Sale & Mine-to-Market Confirmation

Cabral Gold announced on September 30, 2026, that it completed its first sale of doré from its 100%-owned Cuiú Cuiú gold district in the State of Pará, Brazil. A refinery in Brazil was the buyer. The company sold over 2,400 ounces of gold at an average net realized price in excess of US$4,200 per ounce, which confirmed the mine-to-market arrangements for the Phase 1 mine.

President and Chief Executive Officer of Cabral Gold, Alan Carter, described the sale as the start of revenue generation from the gold-in-oxide starter operation:

"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 Cuiú Cuiú. 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 doré shipment and sale are now in place."

Production Update & 24-Hour Operation

Commissioning is almost complete, and the site team is preparing for full-scale production. An early priority was stabilizing the dry stacking rate on the heap leach pads using 1 operating shift per day. The team reached that rate ahead of schedule and brought forward a second shift, so both the dry and wet circuits now operate 24 hours a day. Saprolite mining is under way in the starter pit at the MG deposit.

Mining remains primarily a 12-hour operation. Accumulated run-of-mine (ROM) stockpiles feed the dry plant during the night shift. The priority is to raise daily production rates toward the project's design capacity, after which Cabral intends to declare commercial production.

Carter set out the priorities for the ramp-up and the expansion cases:

"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 Cuiú Cuiú. I would again like to personally thank and congratulate every member of the team who helped make this milestone possible."

Health & Safety

The owners team has worked 246,681 hours so far in 2026, and contractors have worked 418,119 hours, a combined 664,800 hours. The project has recorded 1 lost time incident (LTI) this year, which gives a lost time injury rate of 0.30, defined as LTIs per 200,000 hours worked. The operations team is focused on progressing safely through the ramp-up while managing the workforce transition now underway.

Next Steps

Cabral is targeting commercial production in the fourth quarter of 2026 and reports the project is on schedule and on budget to complete construction. The path there runs through higher daily production rates toward design capacity, followed by a declaration of commercial production. Cabral also cites expansion opportunities in the Phase 1 processing of oxides and the larger Phase 2 hard-rock development opportunity at Cuiú Cuiú.

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