Cabral Gold Announces Appointment of Samantha Shorter as Chief Financial Officer

Vancouver, July 9, 2024 - Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) ("Cabral" or the "Company") is pleased to announce the appointment of Samantha Shorter as Chief Financial Officer with the Company.

Alan Carter, Cabral's President and CEO commented, "I am extremely pleased that Samantha has accepted the position of Chief Financial Officer with the Company. Her qualifications and experience in Brazil, and with companies that are in production, make her an ideal fit for the Company as we advance towards completion of the PFS on the initial trial mining and heap leach operation at Cuiú Cuiú. I would also like to thank Paul Hansed, the outgoing CFO, who is retiring, for his numerous valuable contributions to the Company. Paul has consistently gone above and beyond for this Company and we wish him a very happy retirement."

Samantha Shorter, CPA, CA, provides comprehensive professional services as a CFO and consultant in the resource industry. She has accumulated experience in the areas of executive leadership, financial compliance, and financial analysis for public and private companies. Samantha has worked with companies with international operations, including Brazil, as well as in underground mining operations in Mexico.

Previously, Samantha spent six years with Davidson and Company LLP, where she managed audit engagements specializing in the mining industry. She has a Bachelor of Commerce with Honours from the University of British Columba and is a Chartered Professional Accountant with the Chartered Professional Accountants of British Columbia.

Cabral's Board of Directors has approved the granting of stock options to certain officers pursuant to the Company's omnibus equity incentive plan. The stock options entitle the holders to purchase a total of 750,000 common shares in the capital stock of the Company at a price of $0.28 per common share and expire in five years.

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 main gold deposits have so far been defined at the Cuiú Cuiú project which contains National Instrument 43-101 compliant Indicated resources of 21.6Mt @ 0.87 g/t gold (604,000 oz) and Inferred resources of 19.8Mt @ 0.84 g/t gold (534,500 oz) as per the 43-101 technical report dated October 12, 2022.

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 CONTACT:

"Alan Carter"

President and Chief Executive Officer
Cabral Gold Inc.

Tel: 604.676.5660

Technical information included in this release was supervised and approved by Brian Arkell, B.S. Geology and M.S. Economic Geology, SME (Registered Member), AusIMM (Fellow) and SEG (Fellow), Cabral Gold's Vice President, Exploration and Technical Services, and a Qualified Person under NI 43-101.

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", "advance towards" 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. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215943