Vancouver, British Columbia–(Newsfile Corp. – April 7, 2022) –  Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) (“Cabral” or the “Company“) is pleased to provide assay results from several trenches excavated on strike and immediately west of the Machichie main zone within the Cuiú Cuiú gold district.

Highlights are as follows:

• Trench CT38A is a north-south trench, located approximately 85m west of the most westerly drill hole at the E-W trending Machichie main zone. It returned two separate intercepts;
  • 11m @ 1.2 g/t gold, including 0.6m @ 9.6 g/t gold, at the south end of the trench
  • 38.6m @ 0.7 g/t gold, including 2.0m @ 3.9 g/t gold, at the north end of the trench

Mineralization remains open at both ends of the trench

• The southern intercept in CT38A is along strike from CT35A and interpreted to further be the western extension of the E-W trending Machichie main zone. The northern intercept is a completely new mineralized zone of undetermined dimensions

• Trench CT37 completed 50m east of CT38A returned three separate zones, including:
  • 1.3m @ 4.3 g/t gold
  • 3.2m @ 1.1 g/t gold
  • 1.5m @ 1.3 g/t gold

Alan Carter, Cabral’s President and CEO commented, “The significance of these results at Machichie is in their location between the most westerly drill hole at Machichie and earlier trenches excavated a couple of hundred metres further west, which returned 5m @ 8.3 g/t gold. The lateral extent of the Machichie gold system appears to be significantly larger than previously thought. With additional trenching, and drilling about to start in this area, and diamond drilling also in progress at Central, MG and Indio, we anticipate an exciting few months for Cabral’s shareholders.”

Machichie Trench Results

The Machichie target is located 500m north of the MG gold deposit (Figure 1). Previous drilling at Machichie identified a persistent mineralized zone which is E-W trending and dips steeply to the north. This main zone consists of a high-grade core zone surrounded by a low-grade alteration envelope. This is very similar to the style of the primary bedrock gold deposits at MG and Central, as well as the recently announced PDM basement discovery (see press releases dated December 15, 2021 and January 12, 2022).

Figure 1: Map showing the location of the Machichie target and the existing MG and Central gold primary gold deposits, as well as the recently identified gold-in-oxide blanket and underlying mineralized zone in hard rock at the PDM target within the Cuiú Cuiú district. Other key targets are shown as yellow circles

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3900/119637_0f8d1a6684135a7e_002full.jpg

Drilling to date at Machichie returned consistent gold values up to 34m @ 5.4 g/t gold, including 13m @ 13.4 g/t gold (see press release dated January 7, 2021).

In late 2021, Cabral commenced a series of reconnaissance N-S trenches up to 300m west of the known Machichie main zone. Several new mineralized structures were uncovered in the initial trenching including an E-W trending zone in trench CT35A that returned 5m @ 8.3 g/t gold, including 1m @ 37.8 g/t gold. This mineralized structure is 300m west of the most westerly drill hole at Machichie. It is directly along strike from the main mineralized zone at Machichie, suggesting a significant extension to the mineralized zone (Figure 2).

Trench CT38A

A new trench, CT38A, was excavated closer to the main Machichie mineralized zone (Figure 2), approximately 85m west of the most westerly drill hole at the main E-W trending Machichie main zone. It is also 200m east from trench CT35A, described in the preceding paragraph.

Trench CT38A returned two significant zones. The southern zone returned 11m @ 1.2 g/t gold, including 0.6m @ 9.6 g/t gold. The northern zone assayed 38.6m @ 0.7 g/t gold, including 2.0m @ 3.9 g/t gold. Both of the mineralized zones ran up to the ends of the trench, and remain open to the south and north, respectively.

The southern mineralized zone in Trench CT38A is along the strike projection of the mineralization encountered in CT35A and interpreted to further define the western extension of the E-W trending main Machichie mineralized structure.

The northern mineralized zone in Trench CT38A is a completely new mineralized zone of undetermined dimensions. It appears to be associated with a NE trending vein swarm. NE trending veins are common in this part of the Cuiú Cuiú gold district, but thus far have been found to be discrete fairly narrow structures at Machichie. This mineralized section appears to be related to a wider and pronounced geological structure.

Trench CT37

In addition, trench CT37, was excavated 50m east of trench CT38A and 50m west of the most westerly drill hole RC57 (Figure 2). It also intersected several mineralized structures returning three separate mineralized intervals, including; 1.3m @ 4.3 g/t gold, 3.2m @ 1.1 g/t gold and 1.5m @ 1.3 g/t gold.

These trench results lend further credibility to the hypothesis that the main E-W trending mineralized zone at Machichie extends much further west than previously thought. In addition, the presence of a wider zone of lower grade mineralization in trench CT38A (38.6m @ 0.7 g/t gold) to the north of the inferred Machichie main zone extension, also suggests the presence of a significant new mineralized zone that may be NE trending.

Trenching at Machichie is still in progress with diamond drilling scheduled to start in the next few days. Further results are expected on this emerging discovery in the coming weeks.

Figure 2: Detailed map showing the area immediately west of the Machichie mineralized zone including previous drill results and recent trenching results.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3900/119637_0f8d1a6684135a7e_003full.jpg

Results are currently pending on six additional trenches totaling 250m at Machichie and the trenching program is continuing.

Drilling and Trenching Update

Results are pending on seven diamond-drill holes at MG and drilling is continuing.

Results are also pending on ten diamond-drill holes at Central and drilling is continuing.

In addition to the extensive diamond-drilling program that is in progress at Central, RC drilling aimed at further defining the extent of the gold-in-oxide blanket material is also in progress. Results are currently pending on 36 RC holes drilled north of Central.

Diamond-drilling continues at the recently discovered mineralized zone in basement granitic rocks at the PDM target located 2.5km NW of Central (see press release dated January 12, 2022). Results on twelve diamond-drill holes are currently pending.

Diamond drilling recently commenced at the Indio target, located 1.5km SE of the MG gold deposit. Six reconnaissance RC drill holes completed in early 2021 failed to test the primary target due to waterlogged ground but nonetheless cut a number of interesting mineralized structures were encountered, highlighted by 4m @ 2.5 g/t gold including 1m @ 8.7 g/t gold, and 5m @ 2.6 g/t gold including 2m @ 5.7 g/t gold. Results are currently pending on the first hole drilled in 2022.

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 gold deposits have so far been defined at Cuiú Cuiú and contain 43-101 compliant Indicated resources of 5.9Mt @ 0.90g/t (200,000 oz) and Inferred resources of 19.5Mt @ 1.24g/t (800,000 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.

Notes

Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by FAA525. Analytical quality is monitored by certified references and blanks. Until dispatch, samples are stored under the supervision the Company’s exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned to the Company and archived. Drill holes results are quoted as down-hole length weighted intersections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119637