Cabral Gold Advances Construction of Cuiú Cuiú Gold-in-Oxide Heap Leach Project. Transitions to Plant Erection Phase; Remains on Schedule

Cabral Gold reports construction of its Phase 1 gold-in-oxide heap leach project at Cuiú Cuiú is ~70% complete with 85% of costs committed and remains on budget. Major equipment procurement is complete; the ADR plant departed Fremantle on April 25 and is expected in Brazil in late May, while key mineral sizer components arrive by May 5. Plant commissioning is slated for Q3 2026 (dry-circuit commissioning now planned to begin in June) with commercial production targeted for Q4 2026. Infill drilling for the MG starter pit is finished and supports prior PFS results. Safety and workforce metrics are highlighted (255,960 hours worked in 2026 with zero LTIs; 324 on-site personnel). Market impact: the accelerated commissioning timeline, on-budget progress and confirmed equipment deliveries are bullish for Cabral’s project delivery risk and near-term operational outlook, potentially positive for company valuation and future gold output expectations, while broader impacts on global gold prices are likely limited.