📣 Project Construction Hits Milestone ⛏️

Cabral Gold Inc. has provided a major update on its Phase 1 gold-in-oxide heap leach project in Brazil. Simply put: the mine development is progressing better than expected and is staying on schedule for commercial gold production in Q4 2026.

The project is now approximately 70% complete, moving from the heavy foundational "in-ground" work into the structural "above-ground" plant erection phase. Key pieces of equipment, including the critical Adsorption, Desorption, and Recovery (ADR) plant, are arriving or have already arrived on site, accelerating the timeline.

👉 The most exciting takeaway is that they have moved the plant commissioning schedule forward. The initial phase of processing is now planned to begin in June 2026, beating previous expectations.

🏢 Company Context: Where is Cabral Gold? 🇧🇷

Cabral Gold is a junior mining company focused on finding and developing gold deposits in Brazil. They own the entire Cuiú Cuiú gold district in the Tapajós Region, in the state of Pará.

👉 In simple terms, the company is sitting on a massive historic gold playground. The area is famous for having been the site of one of Brazil's largest gold rushes, which historically produced an estimated 2 million ounces of placer gold.

Cabral’s current resource estimates are substantial, including 12.29 million tonnes at 1.14 g/t gold in fresh basement material, and 13.56 million tonnes at 0.50 g/t gold in oxide material alone.

📊 By The Numbers: The Progress Report 🔢

The sheer scale of the progress is impressive, not just in tons, but in hours worked safely.

• Safety Track Record: The owners' team and contractors have logged a total of 255,960 hours of combined work in 2026 with a remarkable zero Lost Time Incident (LTI) rate. Safety is clearly a huge focus.
• Staffing: There are currently 324 employees and contractors on site, all of whom are Brazilian, with about 42% hailing from the state of Pará.
• Capacity: The team has moved into a new mine camp with a final capacity of 160 employees and contractors, plus a main project office for 40 staff.

🚀 Strategic Angle: The Processing Plan ⚙️

The company is using a process called a heap leach—a very common, efficient gold extraction method. Here is how it works:

1. Waste rock (or "ore") is piled up in a heap and treated with chemicals.
2. The chemical solution flows through the heap, dissolving the gold.
3. This liquid solution then moves to the ADR plant (the adsorption, desorption, and recovery unit). This plant filters out the gold, leaving behind a clean solution and recovered gold.

👉 By successfully dry commissioning the ADR plant in stages in Australia and having it shipped to Brazil, they are drastically streamlining the physical process and achieving critical timing advantages.

🔍 The Details: Infrastructure & Equipment 🚢

Significant operational logistics have been cleared out of the way, allowing construction to accelerate.

• Equipment Delivery: Critical gear, like the ADR plant and components from Germany (for the mineral Sizer), is arriving ahead of schedule (expected in late May/early June).
• Infrastructure: Major earthworks and civil foundations are complete. This allowed the project to transition smoothly from digging groundwork to erecting physical structures (the "above ground" phase).
• Resource Confirmation: New infill drilling in the MG oxide starter pit is complete, and the initial results support the previous feasibility studies, building confidence in the resource estimate.

🔮 What's Next: The Timeline Ahead 📅

The project is locked into a specific, accelerated timeline:

• Q2 2026: Major equipment arrives and plant construction ramps up.
• June 2026: Phase 1 Commissioning starts (focusing first on the dry circuit and leaching process).
• Q3 2026: Second phase of commissioning (processing the solution and producing gold).
• Q4 2026: Commercial production and ramp-up begins.

🧠 The Analogy

Think of building a complex, multi-story office building. Most developers plan to pour the foundations (the 'groundwork'), then wait six months to put up the skeleton, then wait another six months for the interior fixtures, etc. Cabral Gold did this, but they somehow got all the critical specialized, high-tech elevators and HVAC units delivered and installed early, allowing them to speed up the final fit-out and move into business much faster than originally planned.

🧩 Final Takeaway

Cabral Gold is executing a massive, complicated development project in Brazil extremely efficiently. The successful acceleration of the plant commissioning timeline to June 2026 confirms they are on a clear, on-budget path to commercial gold production by Q4 2026.

Vancouver, British Columbia--(Newsfile Corp. - April 29, 2026) - Cabral Gold Inc. (TSXV: CBR) (OTCQX: CBGZF) ("Cabral" or the "Company") is pleased to provide a construction update regarding its Phase 1 gold-in-oxide heap leach project at the Cuiú Cuiú Gold District, Brazil.HighlightsConstruction activity for the Phase 1 gold-in-oxide heap leach construction project is now approximately 70% complete, with 85% of project costs committed under contract The project remains on budget and on schedule for plant commissioning in Q3, 2026 and commercial production in Q4 2026Critical equipment, including the ADR plant and the mineral Sizer, is in maritime transit and is expected to arrive in the country ahead of schedule.The Owners team and Contractors have so far worked a total of 255,960 hours during 2026 with a Lost Time Incident ("LTI") rate of zeroA total of 324 employees and contractors are currently on site on the construction project (excluding the off-site engineering team and Cabral's in-country exploration and administrative team), 100% of employees and contractors are Brazilian and approximately 42% are from the state of ParaIn-fill drilling of the MG oxide starter pit (first 12 months) is complete, with results supporting the earlier Updated PFS results that were based on wider space drillingAlan Carter, Cabral's President and CEO, commented, "Construction of our Phase 1 gold-in-oxide heap leach project at Cuiú Cuiú continues to progress and remains on budget and on schedule for commercial gold production during the fourth quarter of this year. The erection of both the dry and wet plant processing facilities are now in progress and the new 160 person mine camp and project offices were commissioned successfully in early April. Overall procurement of equipment for all major plant equipment is now complete, and the adsorption, desorption, and recovery ("ADR") plant is in transit to site. The excellent progress on site has resulted in the plant commissioning schedule being brought forward and is now planned to commence in June 2026. All this has been achieved by the owners' team and contractors having worked a total of 255,960 hours with zero lost time incidents so far during 2026." Cuiú Cuiú Construction UpdateDetailed Engineering Project engineering has focused on the final design and construction execution for the Heap Leach pads. Major recent priorities included; A review of the piping and instrumentation diagrams ("P&ID's") and detailed design for the plant with a specific focus on the systems downstream of the heap leach padsGeotechnical studies and evaluations to support the design of Spent Ore Pile and Waste Rock facilitiesA review of the final design drawings and planned execution for the construction of the Heap Leach Pads (Q2, 2026)Procurement and Delivery Overall procurement of equipment for all major plant equipment is now complete, and all items required to commence erection are on site and available to the construction team.The adsorption, desorption, and recovery ("ADR") plant was successfully dry commissioned in stages at Como Engineering in Perth, Australia. It was then disassembled and packed in shipping containers for transportation to the site. The containers departed Fremantle Port on April 25, and are expected to arrive in Brazil on schedule in late May. Components of the mineral Sizer that were sourced from Germany are expected to arrive in Brazil in the coming days, with the last of these due to arrive on May 5. All steel structures and components required for the conveyor systems are now on site and available for plant erection expected in the coming months. The materials required to commence the construction of the Heap Leach pads and water management and collection ponds, such as HDPE pipes and liners, are on site. Expenditures and schedule continue to track in line with the Pre-Feasibility Study with an effective date of July 29, 2025 (filed under Cabral Gold's profile on Sedar, entitled "Pre-Feasibility Study - NI 43-101 Technical Report, Cabral Gold Inc.").Infrastructure Improvements and Construction The new mine camp and project offices were commissioned successfully in early April, with most of the new accommodation now occupied by the project team and the new project office fully operational (Figures 1 and 2). The delivery on schedule of the new accommodation and offices was an important milestone in that it improved the team's operational flexibility and addressed the capacity limitations imposed on the project due to the need to share the original Cuiú Cuiú camp with the growing exploration team. The new accommodation facilities have an increased and final capacity of 160 employees and contractors, while the main project office has the capacity to accommodate 40 staff.Figure 1: New mine offices in operation at Cuiu Cuiu.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3900/294871_aec011a09489bb90_002full.jpgFigure 2: Recently completed accommodation blocks at new mine camp, Cuiu Cuiu.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3900/294871_aec011a09489bb90_003full.jpgDuring April, the project reached an important milestone of completing the construction of all major earthworks and civil foundations (including plant foundations, pad layout, and pond excavations). This concludes the ground preparation and foundations ("in ground") phase for the project, supporting the transition of activity to the plant erection and equipment installation ("above ground") phase. Our construction team successfully navigated this critical in-ground phase during the height of the wet period in spite of the difficult conditions. This bodes well for mining in wet conditions and may lead to productivity levels exceeding the conservative metrics of the Updated PFS. Construction of the ore processing section and the dry circuit of the plant is well underway, with key structures beginning to take shape (Figure 3). Figure 3: Construction activity in ROM / dry circuit area. Note cement silo and partially assembled mobile conveyors in foreground.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3900/294871_aec011a09489bb90_004full.jpgThe lining of solution collection ponds has also commenced and is shown in Figure 4.Figure 4: Installation of solution pond linersTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3900/294871_aec011a09489bb90_005full.jpgConstruction of the Carbon in Column ("CIC") circuit in the wet circuit area has also commenced (Figure 5).Figure 5: Construction of the Carbon in Column ("CIC") circuit in the wet circuit area at Cuiu Cuiu.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3900/294871_aec011a09489bb90_006full.jpgMining and Resource updateA detailed infill drilling campaign focusing on the first 9 months of production at the MG gold deposit has been completed. Preliminary results from this program were recently reported and were in line with expectations (see press release dated April 7, 2026). The results from these infill drill holes will be used to generate a revised reserve estimate for MG and an updated mine plan. Preparation required to commence mining is progressing to plan, with mobilization of the mining fleet planned for the coming weeks. Commissioning Cabral has engaged Strategic Metallurgy Pty Ltd to oversee and manage the commissioning of the processing plant (ROM pad to ADR plant), with Como Engineering retaining the responsibility for final on-site commissioning of the ADR plant. The commissioning program is likely to take place in 2 phases. The first phase will focus on the dry circuit, ore leaching on the pads, and the build up of gold inventory (i.e. gold tenor in the pregnant solution) and is planned to commence in June, 2026. This is significantly earlier than previously expected, adopting the "as early as possible" approach, which provides extra time and flexibility to commission the plant in time for planned commercial production in early Q4, 2026. The second phase will include processing of the pregnant solution, extracting gold through the carbon columns, and producing dore from the ADR plant. The timing of this will be dictated by the progress of the first phase but is currently planned for later in Q3, 2026. Project Development Timeline The Project remains on track and on budget for plant commissioning in Q3, 2026, and commercial production in Q4 2026 (Table 1).Table 1: GANT chart showing construction schedule for Phase 1 operation at Cuiu CuiuTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/3900/294871_cabraltbl104292026.jpgSafety & Human Resources The Owners team has worked a total of 102,219 hours so far during 2026 and Contractors have worked a total of 153,741 hours for a total of 255,960 hours with a Lost Time Incident rate ("LTI") of zero.A total of 324 employees and contractors are currently engaged by the Project (excluding the off-site Ausenco Brazil engineering team and Cabral's exploration team), with 100% of the workforce comprised of Brazilians and approximately 42% local residents from the State of Para. Timetable and Next Steps The project has progressed efficiently through the critical earthworks and civil works phase of the project despite more challenging weather conditions during January-April. The project is now approximately 70% complete and on schedule for commissioning in Q3, 2026. Key development milestones in the upcoming months include:Major equipment, including the ADR plant, planned to arrive on site in Q2 2026Plant construction during Q2 2026Plant commissioning during Q3 2026 Commercial production and ramp-up in Q4 2026Video UpdateThe company has included a link on its YouTube channel to a short video showing our construction progress. We will update this video each month simultaneously with the release of the monthly update. The link is https://youtu.be/stAbpxtb8Bo 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. 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 NI 43-101 technical report ("Updated PFS") dated July 29, 2025.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.FOR FURTHER INFORMATION PLEASE