Vancouver, British Columbia--(Newsfile Corp. - July 21, 2026) - Cabral Gold Inc. (TSXV: CBR) (OTCQX: CBGZF) ("Cabral" or the "Company") is pleased to announce results from 41 additional reverse circulation ("RC") infill drill holes recently drilled as part of the pre-production drill-to-measured resource upgrade and production de-risking of the gold-in-oxide ore within the MG starter pit at the Cuiú Cuiú Gold District, Brazil.

Highlights

• Results have been received on an additional 41 infill RC holes targeting the gold-in-oxide material in the eastern and central parts of the MG starter pit. The program of infill drilling was aimed at improving the confidence around the current mine plan at MG and upgrading the indicated resource to measured classification

• Notable results from this final batch of RC drill results from MG include;

• 10m @ 0.72 g/t gold from surface in RC744
• 13m @ 0.46 g/t gold from surface in RC745
• 14m @ 0.81 g/t gold from surface in RC746
• 16m @ 0.77 g/t gold from surface in RC747
• 17m @ 1.93 g/t gold from surface in RC748
• 14m @ 0.74 g/t gold from surface in RC749
• 17m @ 0.62 g/t gold from surface in RC750
• 18m @ 0.64 g/t gold from surface in RC751
• 18m @ 0.57 g/t gold from surface in RC752
• 25m @ 0.52 g/t gold from surface in RC753
• 25m @ 0.53 g/t gold from surface in RC754
• 25m @ 0.57 g/t gold from surface in RC755
• 34m @ 0.50 g/t gold from surface in RC772

• Drilling has been completed at MG on this program for a total of 5,767 meters drilled in 165 holes. All assay results have now been received on the MG pre-production infill drill program

• Exploration and resource development drilling is ongoing with six drill rigs, four diamond drills and two reverse circulation drills, currently operating at the Jerimum Cima, Machichie NE, Machichie, and Central targets

Alan Carter, Cabral's President and CEO, commented, "This final set of infill drill results from the MG gold deposit confirms the presence of consistent grades over significant widths from surface in gold-in-oxide material. This provides us with greater confidence in planned ore delivery in advance of mining at the MG gold deposit. With 6 drill rigs currently operating at the Jerimum Cima, Machichie NE, Machichie Main, and Central targets, and construction of our Phase 1 heap leach mine nearing completion, the next few months promise to be an exciting time for shareholders."

MG RC Infill Drill Results

The MG gold deposit is one of the two main gold deposits that currently comprise the Indicated and Inferred resource base at Cuiú Cuiú (see Figure 1). As with the nearby Central gold deposit, the upper portion of the subvertical MG gold mineralization is extensively weathered resulting in a vertical profile of saprolite extending to 60 meters ("m") depth. This saprolite together with the overlying blanket sediments and soils, which are also mineralized, will form the starter pit for the Phase 1 gold-in-oxide mining operation which is due to commence production in Q4 2026.

Figure 1: Map showing location of known gold deposits at MG, Central, and JB. The location of new discoveries at PDM, Machichie NE and Machichie Main and Jerimum Cima discovery are also shown.

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The objective of the RC infill drill program at MG is to provide greater confidence in the grade and continuity of the planned oxide-gold ore supply from MG to the heap leach pad, ahead of mining, and to further refine the mine plan that was developed as part of the PFS study release in July 2025 (see press release dated July 29, 2026).

Results have been received on the remaining 41 infill RC holes, targeting the gold-in-oxide material in the eastern and central parts of the MG starter pit. These follow the receipt of results previously from 124 infill RC holes (see press releases dated April 7, May 7, May 25, and June 11, 2026). The program of infill drilling was designed to enhance the level of confidence around the Year 1 mine plan at MG and to upgrade the current resource by the end of this month. In total, 165 RC holes totalling 5,767m were completed enhancing the drill hole spacing to a nominal 12.5m grid through most of the Year 1 pit plan and 25m spacing elsewhere.

The RC drill results reported to date confirm the presence of good gold grades, from surface, within the weathered saprolite and overlying sedimentary blanket and within the Year 1 pit outline (see Figure 2, Table 1).

The following RC drill results are of particular note;

• 10m @ 0.72 g/t gold from surface in RC744
• 13m @ 0.46 g/t gold from surface in RC745
• 14m @ 0.81 g/t gold from surface in RC746
• 16m @ 0.77 g/t gold from surface in RC747
• 17m @ 1.93 g/t gold from surface in RC748
• 14m @ 0.74 g/t gold from surface in RC749
• 17m @ 0.62 g/t gold from surface in RC750
• 18m @ 0.64 g/t gold from surface in RC751
• 18m @ 0.57 g/t gold from surface in RC752
• 25m @ 0.52 g/t gold from surface in RC753
• 25m @ 0.53 g/t gold from surface in RC754
• 25m @ 0.57 g/t gold from surface in RC755
• 34m @ 0.50 g/t gold from surface in RC772

All of the holes reported herein were drilled within the Year 1 pit to a maximum depth of 25m (Figure 2, Table 1). Figure 3 shows cross-section 553425E for holes RC748, RC749 and RC750 drilled in the central eastern part of the gold-in-oxide deposit.

The close-spaced drilling with downhole sampling on one-meter intervals confirms the pre-existing exploration drilling and validates the geological model demonstrating the presence of significant near surface resources with good grade material amenable to heap leach. This data reconciles well with the exploration model and allows the Company to initiate ore control and production with confidence in the Year 1 pit.

Figure 2: Map showing the location of RC infill drillholes at the MG gold deposit aimed at further defining the gold-in-oxide reserves that will form the basis of the starter pit for the Phase 1 gold-in-oxide operation. The Year 1 pit outline is shown together will drill holes reported in this press release as well as other recently completed RC infill drill holes.
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 553425E showing the location of RC infill drillholes RC748, RC749 and RC750 at the MG gold deposit.
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 RC744 to RC755, RC768 to RC778, RC780, RC784, RC786, RC788 and RC790 at the MG gold deposit. Note holes RC756 to RC766, RC779 and RC782 returned only low-grade values. 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

Exploration Drilling Update

The Company continues exploration and resource development drilling with six drill rigs, four diamond drills and two reverse circulation drills currently operating at Jerimum Cima, Machichie NE, Machichie Main, and Central.

At Jerimum Cima, a follow up program of 25 diamond drill holes is nearing completion. The drilling is focused on further definition of four main mineralized structures that are east-west trending and host gold in quartz-sulfide breccias. Recent drilling at Jerimum Cima returned 9.5m @ 87.4 g/t gold (see press release dated March 12, 2026). These structures have now been intersected over a distance of more than one kilometre along strike and over 200 metres down dip and remain open to the east. In the overlying Jerimum Cima oxide zone, the company has completed drilling on a nominal 50 to 70 by 100 metre spacing aimed at determining the size of the gold-in-oxide mineralization at Jerimum Cima. Assay results on Jerimum Cima drilling are pending.

Resource development drilling has recently commenced at the Machichie Main and Machichie NE targets where the company is now operating two diamond drills and a reverse circulation drill. Diamond drills are targeting several higher-grade structures in the primary zone at Machichie Main where mineralization has been defined in bedrock over a strike length of more than one kilometre and where Cabral has not yet declared resources. Reverse circulation drilling is in progress concurrently at Machichie Main aimed at infilling large drilling gaps in the oxide zone with the objective of adding gold-in-oxide resources.

Diamond drilling at the Central target is also nearing completion, where several mineralized zones remain open to the northwest and southeast. Results are pending.

Based on drilling completed in 2025 and the first half of 2026, the Company is currently updating resource models at Moreira Gomes ("MG"), Jerimum Baixo, and Pau da Meranda targets. Resource model updates are also planned at Jerimum Cima, Machichie Main, Machichie NE, and Central as drill results are received.

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 and commissioning of the 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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