Cabral Gold (CBR) Corporate Presentation summary

Project overview and district potential

• Cuiú Cuiú project in Brazil's Tapajos Gold Province has district-scale potential with near-term production from a starter operation targeting gold-in-oxide resources.

• The project area historically produced 2Moz of placer gold, significantly more than neighboring Tocantinzinho.

• Multiple deposits and over 50 targets identified within a 10x15km area, with four recent hard rock discoveries requiring further drilling.

• The region is controlled by the NW-trending Tocantinzinho fault zone, hosting several major gold deposits.

• Management aims to avoid dilutive financing by generating early cash flow from near-surface oxide gold production.

Resource base and exploration

• Indicated resources: 12.29Mt @ 1.14g/t gold (450,200oz) primary, 13.56Mt @ 0.50g/t gold (216,182oz) oxide.

• Inferred resources: 13.63Mt @ 1.04g/t gold (455,100oz) primary, 6.40Mt @ 0.34g/t gold (70,569oz) oxide.

• Five gold-in-oxide blankets identified at Central, MG, Machichie, PDM, and Jerimum Cima.

• High-grade drill intercepts at new discoveries include 11m @ 33g/t, 12m @ 27.7g/t, and 3.4m @ 36.9g/t gold.

• Significant expansion potential at Central and MG deposits through additional drilling.

Starter operation and PFS highlights

• Updated PFS (July 2025) for a heap leach starter operation: after-tax IRR of 78%, NPV5 of US$74M at $2,500/oz gold.

• Capex of US$37.7M, payback in 10 months, LOM gold production of 113,155oz, and AISC of US$1,210/oz.

• Phase 1 targets 128,903oz of gold-in-oxide probable reserves at MG, Central, and Machichie.

• Heap leach process with average gold recovery of 88%, no crushing or grinding required.

• First production planned for H2 2026, with 25,000oz/year in the first two years.