Cabral Gold (CBR) Corporate presentation summary

Project overview and district potential

• Cuiú Cuiú is a district-scale gold project in Brazil's Tapajos Gold Province, historically the largest placer gold producer in the region, with over 2Moz recovered from 1978–1995.

• The project contains multiple deposits and over 50 exploration targets within a 10x15km area, adjacent to the Tocantinzinho gold mine.

• Four new hard rock discoveries (PDM, Machichie Main, Jerimum Cima, Machichie NE) have returned high-grade drill results and require further drilling.

• The district is being developed in two stages: Stage 1 targets near-surface oxide gold, while Stage 2 will focus on expanding the hard rock resource base.

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

• Central and MG are the main deposits, with significant expansion potential through ongoing drilling.

• Five gold-in-oxide blankets identified (Central, MG, Machichie, PDM, Jerimum Cima), with oxide resources totaling 216,182oz Indicated and 70,569oz Inferred.

• High-grade drill intercepts include 9.5m @ 87.4g/t (Jerimum Cima), 11m @ 33g/t (Machichie NE), and 23.8m @ 5.5g/t (Central).

• Over 50 peripheral targets with high-grade results, supporting district-scale upside.

Stage 1 starter operation and economics

• Stage 1 heap leach operation targets near-surface oxide material, with construction 70% complete and first gold pour expected Q4 2026.

• July 2025 PFS: after-tax IRR of 78%, NPV5 of US$74M at $2,500/oz gold, capex US$37.7M, payback in 10 months, LOM AISC US$1,210/oz.

• Phase 1 production: 113,155oz over 6.2 years, averaging 18,500oz/year, with 25,000oz/year in the first two years.

• Heap leach tests show 92–93% gold recovery; processing is simple, with no crushing or grinding required.

• US$45M gold loan closed November 2025 fully funds construction; cash flow from Stage 1 will fund further exploration and expansion.