Cabral Gold (CBR) 2024 Precious Metals Summit Beaver Creek summary

Project updates and exploration highlights

• Ongoing exploration in Brazil's Tapajós and Alta Floresta regions, with multiple gold discoveries and significant resource growth at Cuiú Cuiú and Cajueiro.

• Cuiú Cuiú has a 1.2 million ounce resource base, three deposits with resources, three new discoveries, and over 40 additional targets, with a PFS for a starter oxide operation expected within weeks.

• Cajueiro's resource has grown to 700,000 ounces, with Maria Bonita confirmed as a unique gold porphyry and new targets like Mombaça identified for upcoming drilling.

• Both companies emphasize district-scale potential, with extensive high-grade drill results and large land positions supporting future expansion.

• The Cuiú Cuiú project is adjacent to GMining’s TZ project, which began commercial production in September 2024 and is now Brazil’s third largest gold mine.

Operational strategies and development plans

• Cuiú Cuiú's initial mining will target oxide material for low-cost, cash-generating production, with stage two focused on primary hard rock mineralization.

• Multiple pits will feed a central facility, with trial mining expected to generate $20–30 million annually, supporting aggressive district exploration.

• Maria Bonita's saprolite is heap leachable, and land acquisition enables flexible development options, including potential third-party mining.

• Both projects benefit from infrastructure improvements, with Cajueiro having direct access to power and roads, while Cuiú Cuiú anticipates future grid connection.

• Strategic focus is on expanding resources through infill drilling, maiden resource definition on new discoveries, and leveraging high-grade zones.

Exploration results and upside potential

• Cuiú Cuiú's new discoveries include high-grade intercepts such as 11 meters at 33 grams and boulder fields averaging up to 90 grams per ton.

• Maria Bonita drilling returned 143 meters at 1 gram, with consistent mineralization and excellent metallurgy, and Mombaça is a new high-priority target.

• Numerous peripheral targets at Cuiú Cuiú show strong drill and surface results, with significant potential for resource expansion.

• Over 45 additional targets identified within the district, with high-grade intercepts at multiple prospects.

• Ongoing and planned drilling campaigns are expected to deliver additional results and resource growth in the near term.