Cabral Gold Achieves Major Permitting Milestone with the Granting of the LP for Full Mining License at Cuiu Cuiu Gold District, Brazil

Core Viewpoint - Cabral Gold Inc. has received the Licença Prévia (LP) for the Full Mining License at the Cuiú Cuiú Gold District in Brazil, marking a significant milestone for the company and its project [1][2]. Company Developments - The LP allows for the expansion of the Phase 1 gold-in-oxide project, increasing its capacity from 500,000 tonnes per year to a full plant capacity of 1 million tonnes per year and beyond [2][3]. - The granting of the LP reduces the risk profile for both Phase 1 and the upcoming Phase 2 project, which focuses on hard rock resources [2][3]. - The successful public audiences held in August 2025 in the community of Cuiú Cuiú and Itaituba received 100% approval, contributing to the LP's issuance [4]. Project Details - The Brazilian mine permitting process consists of three stages: Licença Prévia (LP), Installation License (LI), and Operating License (LO). The LP is the most critical and challenging to secure [4]. - The Cuiú Cuiú project has defined Indicated resources of 12.29 million tonnes at 1.14 g/t gold (450,200 ounces) in fresh basement material and 13.56 million tonnes at 0.50 g/t gold (216,182 ounces) in oxide material [5]. - Inferred resources include 13.63 million tonnes at 1.04 g/t gold (455,100 ounces) in fresh basement material and 6.4 million tonnes at 0.34 g/t gold (70,569 ounces) in oxide material [5]. Industry Context - The Tapajós Gold Province is known for the largest gold rush in Brazil's history, producing an estimated 30 to 50 million ounces of placer gold between 1978 and 1995, with Cuiú Cuiú being a significant area of placer workings [6].