Cabral Announces Filing of NI 43-101 Technical Report for Updated Mineral Resource Estimate for Cuiú Cuiú Project, Brazil

Vancouver, British Columbia--(Newsfile Corp. - October 21, 2022) -  Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) ("Cabral" or the "Company") is pleased to announce that it has filed a National Instrument 43-101 technical report (the "Report") of the Mineral Resource Update at the Cuiú Cuiú Project in the Pará State, North-Central Brazil. The Report can be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website.

The results of the Mineral Resource Update were originally presented in a news release dated September 30, 2022, which is also available for review on SEDAR and on the Company's website. There are no material differences between the results announced in the news release and the results in the Report.

About Cabral Gold Inc.

The Company is a junior resource company engaged in the identification, exploration and development of mineral properties, with a primary focus on 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. Two main gold deposits have so far been defined at the Cuiú Cuiú project which contains National Instrument 43-101 compliant Indicated resources of 21.6Mt @ 0.87 g/t gold (604,000 oz) and Inferred resources of 19.8Mt @ 0.84 g/t gold (534,500 oz).

The Tapajós Gold Province is the site of the largest gold rush in Brazil's history producing 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

"Alan Carter"
President and Chief Executive Officer
Cabral Gold Inc.
Tel: 604.676.5660

Guillermo Hughes, MAusIMM and FAIG., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

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. This news release contains forward-looking statements and assumptions pertaining to the following: strategic plans and future operations, and results of exploration. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141406