Cabral Gold Drills 23.8m @ 5.5 g/t Gold in Unoxidized Material and 84.9m @ 0.7 g/t Gold of Oxide Material at Central within Cuiú Cuiú Gold District

Vancouver, February 10, 2022 - Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) ("Cabral" or the "Company") is pleased to provide assay results from three diamond-drill holes testing the Central gold deposit within the Cuiú Cuiú gold district in northern Brazil.

Highlights are as follows:

• DDH250, intersected 111.3m of nearly continuous mineralization from surface at the Central deposit, including

• 23.8m @ 5.5 g/t gold from 87.5m, in hard unoxidized, brecciated and altered basement intrusive rocks including 0.7m @ 98.4 g/t gold from 87.5m, and 1.2m @ 51.0 g/t gold from 110.1m

• 84.9m @ 0.7 g/t gold from surface within oxidized rocks directly above the unoxidized mineralization, including 16.7@ 0.5 g/t gold from surface in the gold-in-oxide blanket, and 68.2m @ 0.8 g/t gold from 16.7m in oxidized and weathered intrusive rocks

• DDH255 returned 37.0m @ 1.3 g/t gold from 42.0m in oxidized and weathered basement rocks, including 1.6m @ 13.0 g/t gold, from 44.0m. The hole also intersected 17m @ 0.2 g/t gold from surface within gold-in-oxide blanket material

• DDH258 also intersected 60m @ 0.8 g/t gold from 121.0m in hard brecciated and altered basement mineralization. The hole also returned a thin veneer of blanket cover, returning 5.8m @ 0.2 g/t gold from surface and 19.0m @ 0.3 g/t gold from 64.0m in oxidized weathered and mineralized basement rocks. The hole ended in mineralization grading 0.9 g/t gold, suggesting mineralization is open at depth

Alan Carter, Cabral's President and CEO commented, "The results from the diamond drilling at the Central gold deposit are exceeding our expectations. There is clearly a thick zone of soft, weathered, mineralized gold-in-oxide material sitting directly above the primary Central gold deposit. Furthermore, these results confirm that significant zones of high-grade gold mineralization occur within the underlying, unweathered and hard basement gold deposit. With four drill rigs currently turning at Cuiú Cuiú, and several new discoveries within the district, notably at PDM and Machichie, we look forward to a very busy few months and a constant stream of drill results."

Central Diamond-Drill Results

The Central gold deposit is located 2.5km SE of the PDM target (Figure 1) within the Cuiú Cuiú gold district.

Figure 1: Map showing the location of the Central gold deposit as well as the MG gold deposit, the PDM and MG gold-in-oxide blankets, and other key targets (yellow circles) within this part of the Cuiú Cuiú district

To view an enhanced version of Figure 1, please visit:
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Two rigs are currently operating at Central: an RC rig drilling shallow holes to assess the extent of the recently identified near-surface gold-in-oxide blanket (see press release dated January 27, 2022) and a diamond rig to better define the high-grade, highly altered, brecciated and sheared zones within the primary basement deposit as well as to test the near surface gold-in-oxide blanket.

A total of eight diamond-drill holes were completed at Central in late 2021 and drilling is ongoing. Assay results are reported herein from three holes; DDH250, DDH255 and DDH258. These were completed in the central and southern portions of the Central deposit (Figure 2, Table 1). Assay results from the initial three holes were previously reported (see press release dated January 27, 2022). The principal objective of this drilling program is to identify and define the individual higher-grade zones within the Central gold deposit, whilst exploring for additional high-grade mineralization in parts of the current resource with a low historic drill density.

Figure 2: Map showing the outline of the Central gold deposit and the drill holes completed to date, including diamond-drill holes DDH250, DDH255 and DDH258 with results reported as part of this press release and previously reported diamond-drill and RC holes

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Table 1 showing the drill results from the diamond drill holes DDH250, DDH255 and DDH258

DDH250

DDH250 was drilled on section N20920 (Figures 2 and 3, Table 1) approximately 45m SW of historic hole CC03 which cut 134.5m @ 1.1 g/t gold.

DDH250 intersected 84.9m @ 0.7 g/t gold within oxidized material from surface. This intercept includes an upper blanket sequence of unconsolidated soil, muds and sands, that returned 16.7m @ 0.5 g/t gold from surface. This is directly underlain by weathered oxidized mineralized intrusive rocks that returned 68.2m @ 0.8 g/t gold to a depth of 84.9m.

The aforementioned weathered mineralization in DDH250 directly overlies fresh primary gold mineralization within highly altered and brecciated intrusive rocks. The hole intersected 23.8m @ 5.5 g/t gold from 87.5m, including 0.7m @ 98.4 g/t gold from 87.5m, and 1.2m @ 51.0 g/t gold from 110.1m. This section of very high-grade mineralization was not intersected in CC03, which cut the same subvertical mineralized zone approximately 70m below DDH250.

Figure 3: Section N20920 through the Central deposit showing the location of DDH250. Section also shows historic drill hole CC-03 which intersected 134.5m @ 1.1 g/t gold

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DDH255

DDH255 was drilled on section N20995 (Figures 2 and 4, Table 1). It encountered gold mineralization in the blanket, weathered oxidized basement and minor mineralization within the footwall in fresh unweathered basement rocks. The hole was primarily designed to test the weathered basement mineralization extending nearer to surface.

This hole was drilled on the same section as drill hole CC13, which returned 48.1m @ 4.5 g/t from 36.7m, including 16.8m @ 10.8 g/t gold from 50.2m. Drill hole CC13 also returned several deeper higher-grade intervals and numerous narrower mineralized alteration zones in the footwall including 2.2m @ 7.6 g/t from 104.8m, 2.0m @ 40.8 g/t gold from 165.2m and 0.8m @ 5.8 g/t from 176.7m.

DDH255 intersected 17m @ 0.2 g/t gold from surface in gold-in-oxide blanket material.

DDH255 also returned 37.0m @ 1.3 g/t gold from 42.0m, including 1.6m @ 13.0 g/t gold from 44m, which is interpreted to be the downdip extension of one of the high-grade zones in CC13. This intercept in DDH255 occurs in highly weathered oxidized basement rocks. DDH255 was collared too far NE to test for the other deep high-grade zones intersected in CC13.

Figure 4: Section N20995 through the Central deposit showing the location of DDH255. Note upper section of 17m @ 0.2 g/t gold in colluvial gold-in-oxide blanket. The underlying intercept of 37m @ 1.3 g/t gold is weathered oxidized primary deposit in brecciated and altered intrusive rocks

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DDH258

DDH258 was drilled on section N20970 (Figures 2 and 5, Table 1), the same section as DDH251 and DDH252 (see press release dated January 27, 2022). It encountered weak gold mineralization within blanket and weathered bedrock, but cut strong mineralization within the main zone in fresh underlying primary altered and brecciated intrusive basement rocks.

As the hole was collared off the main mineralized trend and drilled towards the NE to primarily test basement mineralization, the oxide mineralization was just a thin veneer as expected, returning 5.8m @ 0.2 g/t gold from surface. Similarly, the weathered mineralized basement intercept is above the low-grade alteration halo southwest of the main northeast-trending basement gold zone, and was largely barren. It returned just 19.0m @ 0.3 g/t gold from 64.0m.

The primary basement gold zone in DDH258, however, showed continuous mineralization over a broad width in fresh (unweathered) highly brecciated and highly altered intrusive rocks, returning 60m @ 0.8 g/t gold from 121.0m. This intercept is 50m below notable intercepts previously announced from DDH251, which occurred within the weathered oxidized mineralized basement. The results from DDH251 included 55.5m @ 1.1 g/t gold and 15.5m @ 1.7 g/t gold.

DDH258 also intersected a narrow zone of mineralization grading 0.9 g/t gold from 201.0m to the end of the hole (202.7m), suggesting that the mineralized zone could still be open at depth to the northeast.

Figure 5: Section N20970 through the Central deposit showing the location of DDH258. Note upper sections of 5.8m @ 0.2 g/t gold in colluvial gold-in-oxide blanket and 19.0m @ 0.3 g/t gold in weathered basement rocks. Underlying intercept of 60m @ 0.8 g/t gold is in unweathered intrusive rocks comprising primary basement deposit

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Drilling and Trenching Update

Results are currently pending on an additional four diamond-drill holes at Central and drilling is continuing.

In addition to the extensive diamond-drilling program that is in progress, assay results are also pending on 11 RC drill holes at Central, and RC drilling aimed at further defining the extent of the gold-in-oxide blanket material is also in progress.

Diamond drilling is also in progress 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 for three holes are currently pending.

Diamond drilling is also ongoing at the MG gold deposit, located 5km SE of Central. Results from six holes are pending.

Following recent results from surface trenches at Machichie including 5m @ 8.3 g/t gold (see press release dated February 2, 2022), a series of additional trenches have been designed. Excavation has commenced on these additional trenches.

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 @ 0.90 g/t (200,000 oz) and Inferred resources of 19.5Mt @ 1.24 g/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.

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