Cabral Gold Inc. - CBGZF STOCK NEWS

Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) has announced promising drill results from the Machichie West target in the Cuiú Cuiú gold district, Brazil. Key highlights include:

- RC439: 10m @ 3.00 g/t gold from 11m depth, including 5m @ 5.37 g/t gold
- RC427: 13m @ 1.00 g/t gold from 19m depth, including 2m @ 4.80 g/t gold
- RC430: Multiple mineralized zones, including 8m @ 0.60 g/t gold from 26.0m depth

These results suggest the presence of additional mineralized structures that could provide near-surface oxide material for the ongoing PFS study on trial mining and heap leach processing. The Machichie West target, previously untested by drilling, is part of the larger Machichie area located 500m north of the MG gold deposit.

Cabral Gold announced the appointment of Samantha Shorter as Chief Financial Officer, effective July 9, 2024. Shorter, a CPA and CA, brings extensive experience in executive leadership, financial compliance, and analysis within the resource industry, including international operations in Brazil and underground mining in Mexico.

She replaces Paul Hansed, who is retiring after significant contributions to the company. The Board of Directors has also approved stock options for certain officers, allowing the purchase of 750,000 shares at $0.28 each, expiring in five years.

Cabral Gold announced significant drill results from the Machichie NE and Main targets, located in the Cuiú Cuiú Gold District, Brazil. The highlights include:

- RC421 at Machichie NE: 11m @ 33.0 g/t gold (including 4m @ 89.3 g/t) from 50m depth.
- RC420 at Machichie Main: 25m @ 2.9 g/t gold from surface (including 12m @ 5.5 g/t).
- RC422 at Machichie NE: 21m @ 1.3 g/t gold from surface (including 3m @ 7.5 g/t).
- These results suggest significant high-grade gold potential, with both zones needing further exploration to determine their extent.

Cabral Gold's President, Alan Carter, remarked that these are among the top three drill holes at Cuiú Cuiú, indicating potential for near-surface and primary bedrock gold resources. Further drilling is in progress to assess the size of these discoveries.

Cabral Gold has provided an update on its prefeasibility study (PFS) for the Cuiú Cuiú gold project in Brazil, focusing on near-surface gold-in-oxide mineralization at the Central and MG deposits. The study, conducted by Ausenco do Brasil Engenharia, is 87% complete, with capex estimates nearly finalized. Metallurgical tests on additional samples show promising results, with gold recoveries comparable to previous data. Mine design work by Deswick Brazil is 30% complete. The company expects to release the full PFS results by mid-Q3 2024, aiming for an efficient, cost-effective project design.

Cabral Gold Inc. extends its RC drilling program at the Cuiú Cuiú gold district in Brazil, targeting various zones with high-grade oxide material, uncovering potential for additional resources. Management expresses excitement over the company's prospects and plans for future exploration. The recent success of the drilling program prompts the extension and expansion of drilling activities, aiming to enhance resource models and aid in mine planning. The company remains focused on the ongoing PFS for near-surface oxide material at Cuiú Cuiú, with significant upside potential identified in various targets within the district.

Cabral Gold Inc. announces a non-brokered private placement offering up to 12,500,000 units at $0.16 per unit, aiming to raise $2,000,000 for general corporate purposes and prefeasibility study. The units consist of common shares and warrants, with finder's fees of up to 6.0% of gross proceeds. The securities will be subject to a four-month hold period, pending regulatory approvals.

Cabral Gold Inc. appoints Brian Arkell as Vice President Exploration and Technical Services, aiming to transition from a junior exploration company to a junior gold producer. Arkell's extensive experience in gold exploration and mine development, including key roles in major projects globally, strengthens Cabral's team and objectives.

Cabral Gold Inc. announces positive assay results from RC and auger drilling at Central and MG gold deposits in Brazil, showcasing significant gold values well above cut-off grades in near-surface oxide material. The results indicate the presence of higher-grade gold mineralization in both deposits, supporting the expansion and upgrade of oxide resources.

Cabral Gold Inc. announces positive assay results from 12 RC holes testing near-surface oxide material at the Machichie Main Zone in Brazil. The results confirm the presence of a significant zone of near-surface gold-in-oxide mineralization at Machichie, which could positively impact the current plans for trial-mining oxide material in that area. The proximity of Machichie to the MG gold deposit has significant positive implications for the overall near-surface gold-in-oxide resources at Cuiú Cuiú.