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Cabral Gold

Promotional Strapline: Brazil's newest gold producer: self funding the development of a world class district

Primary Ticker:
TSXV:CBR

Stage of Development: Exploration

Commodity: Gold

Country/Region: Brazil

Market Cap: USD 321M

Project Locations: Brazil

Website: Cabral Gold

Company Profile:

Cabral Gold is a junior gold producer that controls the Cuiu Cuiu gold district in northern Brazil located immediately north-west of the Tocantinzinho mine of G Mining Ventures which is currently the third largest gold mine in Brazil. Cuiu Cuiu historically produced 10x more placer gold than Tocantinzinho.  

 

The Company is currently engaged in the ramp up of its Phase 1 mine which will involve the leach processing of near surface oxide material, and expects to achieve commercial production in Q4 2026 at an AISC of US$1210 / oz. The Compnay's first gold pour was reported on 10th September 2026 and was followed by first gold sales on 29th September 2026. Cash flow from Phase 1 will be used to grow the global hard rock resource base and demonstrate the economic viability of the much larger hard rock resource base (Phase 2).

 

The district currently contains 43-101 compliant Indicated and Inferred resources of 1.2Moz, which was last updated in September 2022. Three new deposits have been identified since that time and the Company is working towards an updated resource estimate by end-2026.  All of the deposits identified so far are open, particularly at depth, and the district contains over 50 additional targets. In March 2026 the Company drilled 9.5m @ 87.4 g/t gold at the Jeriumum Cima discovery.


Management Profile:

Dr. Alan Carter is the Founder, President & CEO of Cabral Gold and has over 35 years experience in the mining industry. He has a B.Sc. degree in Geology from the University of Nottingham, U.K. and a Ph.D. degree in gold geochemistry and structural geology from the University of Southampton, U.K. He spent 13 years working for Rio Tinto, Billiton and BHP before co-founding Peregrine Metals Ltd. and Cuprum Resources Ltd., which were sold to Stillwater Mining and B&A Mineracao respectively. Dr. Carter has been directly involved in the discovery of 5 gold deposits, four of which are located in Brazil including the Tocantinzinho gold deposit which is currently owned by GMining and is currently the third largest gold mine in Brazil. He is currently a director and Chairman of Altamira Gold Corp.


What are your key goals for the next 3 months?:

1. Achieve commercial production

2. Update mineral resource estimate for entire Cuiu Cuiu district

3. Provide guidance on Phase 1 expansion

4. Commence PEA on Phase 2


What are your key goals for the next 6 months?:

1. Achieve steady state production

2. Expand Phase 1 operation

3. Complete 25,000m of exploration drilling using 6 rigs  


What are your key goals for the next 12 months?:

1. Double the throughput for Phase 1 operation

2. Complete PEA on Phase 2

3. Discover another gold deposit within the Cuiu Cuiu district


What do you think makes your company such a compelling investment?:

1. Management: Delivered Phase 1 heap leach operation on budget and 2 months ahead of schedule, 5 grass roots gold discoveries in Brazil including Tocantinzinho mine (Brazil's third largest open pit gold mine), CEO has personally invested $2M. 

2. High Margin Gold Producer: Phase 1 should produce 25,000oz during 2027 at an AISC cost of US$1210/oz. Throughput is expected to double within 12 months. 

3. Two stage development strategy. The much larger Phase 2 operation will involve mining of the underlying hard rock resources with a PEA expected in Q3 2027

4. Resource update by end 2026. The existing Indicated and Inferred 1.2Moz resources were last updated in 2022 and were based on 3 gold deposits. The company has discovered 4 more gold deposits since then and drilled 50,000m. Updated expected by end 2026.

5. Six drill rigs currently turning. Aggressive exploration program in progress