Vancouver, British Columbia--(Newsfile Corp. - June 23, 2026) - Cabral Gold Inc. (TSXV: CBR) (OTCQX: CBGZF) ("Cabral" or the "Company") is pleased to announce results from reconnaissance core drilling recently conducted at the Mutum target within the Cuiú Cuiú Gold District, Brazil.

Highlights

• DDH387 drilled at the Mutum target and located 450m SE of the PDM gold deposit and 1.5km NW of the Central gold deposit, returned 20.7m @ 1.6 g/t gold from 131.4m depth including 2.5m @ 5.7 g/t gold from 146.0m depth

• The results from DDH387 suggest the presence of a previously unrecognised mineralized zone at Cuiú Cuiú between the Central and PDM gold deposits which are located 2km apart

• Several holes returned gold in near surface blanket soils and sediments, notably DDH387 which returned 11.5m @ 0.42 g/t gold from surface, DDH381 which returned 7.5m @ 0.40 g/t gold and DDH383 which returned 4.3m @ 0.58 g/t gold

• The presence of low-grade gold values in near surface oxide material in several holes suggests that the PDM gold-in-oxide blanket could be significantly larger than currently envisaged. Additional drilling is planned

Alan Carter, Cabral's President and CEO commented, "The Mutum target is located within the highly prospective NW trending Central - PDM corridor, a 2km-long trend which is characterised by a strong +100ppb gold-in-soil anomaly and a pronounced magnetic low likely reflecting extensive hydrothermal alteration in the underlying intrusive host rocks. The reconnaissance drill results at Mutum are significant for two reasons. Firstly, they indicate the presence of a new mineralized zone in primary intrusive rocks between the PDM and Central gold deposits which may be a possible extension to those deposits, and secondly, the gold-in-oxide blanket at PDM appears to be significantly larger than previously thought."

Mutum Diamond Drill Results

The Mutum target is located approximately 450 metres ("m") south-east of the PDM gold discovery and 1.5 kilometers ("km") north-west of the Central gold deposit within the Cuiú Cuiú gold district. (Figure 1). Mutum, PDM and Central are all located within a north-west trending corridor defined by a significant gold-in-soil anomaly and coincident low magnetic signature.

Figure 1: Map showing location of Mutum target at Cuiu Cuiu. The Central, MG, and JB gold deposits are also shown together with the PDM, Machichie Main, Machichie NE and Jerimum Cima gold discoveries. The main exploration targets (yellow dots) and distribution of historic placer gold workings (pale yellow outlines) are also shown.

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Reconnaissance drilling and a drone magnetic survey completed during late 2025 (see press release dated December 4, 2025) revealed the presence of two NW trending parallel structures or boundary faults that appear to control the location of the Central and PDM gold deposits. The distance between Central and PDM is approximately 2km and is largely untested (Figure 2).

Drilling during late 2025 at Mutum returned 8m @ 1.32 grammes per tonne ("g/t") gold from 43m depth in RC0602, 13m @ 0.83 g/t gold from 11m depth in RC0604, and multiple low-grade intervals including 4m @ 0.76 g/t gold from 29m depth and 4m @ 1.06 g/t gold from 41m depth in RC0603 (see press release dated December 4, 2025).

In addition, previous surface trenching on the eastern side of the Mutum target returned 32m @ 1.0g/t gold, 25m @ 0.9g/t gold and 16.5m @ 0.9g/t gold.

DDH387 was drilled 450m SE of the PDM gold deposit and 1.5km NW of the Central gold deposit and returned 20.7m @ 1.6 g/t gold from 131.4m depth including 2.5m @ 5.7 g/t gold from 146.0m depth in primary intrusive rocks (Figures 2 and 3, Table 1). This is a new mineralized zone that we believe is related to the northern most boundary fault between PDM and Central and may connect with the mineralized zone at Central North which appears to be controlled by the same geological structure and is located 800m to the SE of DDH387.

DDH381, DDH383 and DDH389 were drilled 400m to the SW of DDH387 on section 9346530N to test the down dip extension of the mineralized zone previously intersected in RC604 which returned 13m @ 0.83 g/t gold (Figures 2 and 4). DDH381 returned visible gold in drill core but the assay results were low grade with the hole returning 7.5m @ 0.40 g/t gold from 103.0m depth including 0.5m @ 2.60 g/t gold. This is very likely the same mineralized zone intersected in RC604 and represents the southern bounding fault that connects the Central and PDM gold deposits (Figure 2).

In addition to the hard rock drill intercepts outlined above, several of the most recent reconnaissance drill holes at Mutum intersected low grade gold values in gold-in-oxide material including DDH386 which returned 9m @ 0.31 g/t gold from 1.0m depth and DDH387 which returned 11.5m @ 0.42 g/t gold from 16.6m depth. These suggest that the gold-in-oxide blanket at PDM, which was not included in the Phase 1 gold-in-oxide PFS study (see press release dated July 29, 2025), is significantly larger than previously thought, now covering an area of over 40 hectares versus the previously known extent of 26 hectares.

Figure 2: Map showing the location of the Mutum target area and the Central gold deposit and the PDM gold discovery - Background image is RTP magnetic data with area of drone test survey highlighted. The locations of diamond drill holes DDH383 through DDH389 are also highlighted. Terms: g/t = grams / tonne, m = metres, Au = gold. True widths may be up to 50% of actual drill intercepts.

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Figure 3: Section 9346530N at the Mutum target (450m SE of the PDM gold deposit) showing the location of DDH387 which returned 20.65m @ 1.57 g/t gold from 131.35m depth including 2.5m @ 5.72 g/t gold. The location of diamond drill holes DDH385, DDH386 and DDH389 are also shown, as well as previous RC holes RC600 and RC601. Terms: g/t = grams / tonne, m = metres, Au = gold. True widths may be up to 50% of actual drill intercepts.

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Figure 4: Section 9346311N at the Mutum target showing the location of DDH381, as well as previous RC holes RC602, RC603 and RC604. Terms: g/t = grams / tonne, m = metres, Au = gold. True widths may be up to 50% of actual drill intercepts

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Table 1: Drill results from RC drill holes (RC706 to RC743) at the MG gold deposit. All RC holes were drilled at a dip of 60 degrees on a bearing of 180 degrees. Terms: g/t = grams / tonne, m = metres, Au = gold, EOH = end of hole. True widths may be up to 50% of actual drill intercepts

About Cabral Gold Inc.

The Company is a junior resource Company engaged in the exploration, development and near-term production from gold properties located in Brazil. The Company has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in northern Brazil. Three main gold deposits have so far been defined at the Cuiú Cuiú project which contain National Instrument ("NI") 43-101 compliant Indicated resources of 12.29Mt @ 1.14 g/t gold (450,200oz) in fresh basement material and 13.56Mt @ 0.50 g/t gold (216,182oz) in oxide material. The project also contains Inferred resources of 13.63Mt @ 1.04 g/t gold (455,100oz) in fresh basement material and 6.4Mt @ 0.34 g/t gold (70,569oz) in oxide material. The resource estimate for the primary material is based on the NI 43-101 technical report dated October 12, 2022. The resource estimate for the oxide material at PDM and MG is based on a NI 43-101 technical report dated October 21, 2024. The resource estimate for the oxide material at Central and Machichie is based on a NI43-101 technical report ("Updated PFS") dated July 29, 2025. The Company is currently engaged in the construction of a Phase 1 gold-in-oxide heap leach operation based on the NI43-101 technical report PFS and expects to enter commercial gold production in Q4 2026.

The Tapajós Gold Province is the site of the largest gold rush in Brazil's history which according to the ANM (Agência Nacional de Mineração or National Mining Agency of Brazil) produced an estimated 30 to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer workings in the Tapajós and produced an estimated 2Moz of placer gold historically.

Quality Assurance / Quality Control

Cabral maintains a Quality Assurance / Quality Control ("QAQC") program for all its exploration projects using industry best practices. Key elements of the QAQC 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 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 via 50g 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 CBR, 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, B.S. Geology and M.S. 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "will", "expected" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.

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