Vancouver, British Columbia – November 16, 2020 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) (OTC: CBGZF) is pleased to announce the appointment of Carlos Vilhena to Cabral’s Board of Directors with immediate effect.
Carlos Vilhena is a partner at the law firm of Pinheiro Neto Advogados, based in Brasilia, Brazil, where he is the administrative managing partner of the local office. Mr. Vilhena also heads the firm's mineral resources law and government relations practices.
For many years, he has provided legal advice to a large number of corporate clients including both major and junior mining companies and multilateral and commercial banks. This advice involved all areas related to the mineral resources sector, including regulatory, permitting, M&A, land, community and government relations, infrastructure, indigenous populations, processing, sales, tax, environment, power, contracts, corporate, financing, litigation legislative process, risk assessment and policy.
Mr. Vilhena has repeatedly been recognised as one of the top mining law practitioners in Brazil by a number of publications, including the International Who's Who of Mining Lawyers published by Who's Who Legal, the Latin Lawyer, Chambers and Legal 500.
He is a director of the Rocky Mountain Mineral Law Foundation and Co-Chair of the Mining Law Committee of the International Bar Association. He is a director of TriStar Gold Inc. Mr. Vilhena holds an LLM degree in Natural Resources Law from the Centre for Energy, Petroleum, and Mineral Law and Policy of the University of Dundee, Scotland and an LLB from the University of Brasilia Law School.
Alan Carter, Cabral’s President and CEO commented, “We are extremely pleased that Carlos has agreed to join the Board of Directors of Cabral. His position as a Partner and Head of Mineral Resources Law at one of Brazil’s largest law firms provides Cabral with a breadth of relevant experience and a wide network throughout the mining industry in Brazil. In short, he is uniquely qualified to assist us as we continue to advance the world-class Cuiú Cuiú district located in the Tapajos region of Para state”.
Issuance of Stock Options
Cabral’s Board of Directors has approved the granting of stock options to various employees, directors and consultants pursuant to the Company’s stock option plan. The stock options entitle the holders to purchase a total of 1,150,000 common shares in the capital stock of the Company at a price of $0.60 per common share. The stock options are exercisable for five years and are subject to vesting over 24 months.
About Cabral Gold Inc.
The Company is a junior resource company and is 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.
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 garimpo in the Tapajós and produced an estimate 2Moz of placer gold historically.
FOR FURTHER INFORMATION PLEASE CONTACT:
President and Chief Executive Officer
Cabral Gold Inc.
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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.