Definition Continues At The New Basement Gold Discovery At PDM Within Cuiu Cuiu Gold District

VANCOUVER -  Cabral Gold Inc. reported on the nine diamond-drill holes testing the new hard-rock discovery beneath the recently identified gold-in-oxide blanket, at the PDM target, located within the Cuiu Cuiu gold district in northern Brazil.

Alan Carter, President and CEO commented, "PDM is one of the five different targets that we are currently drilling at Cuiu Cuiu, and these additional diamond-drill results from the primary mineralized zone in granitic rocks below the gold-in-oxide blanket at PDM, continue to suggest the presence of another primary gold deposit in basement granitic rocks. Whilst it is early days for this discovery and much work remains to be done to define the continuity and extent of the mineralized zone, the initial diamond drilling at PDM is very promising, and presents many similarities to the nearby Central and MG gold deposits, as well as the Machichie discovery. We look forward to receiving additional assay results from drilling at the PDM target in the coming months as we work to determine the size of this new gold discovery".

The PDM (Pau de Merenda) target is located 2.5km NW of the Central gold deposit at Cuiu Cuiu within a prominent northwest-trending gold-in-soil anomaly which has been traced from the northwest to the southeast for over 5km. Within this anomaly lie the Central gold deposit, Central SE target, Central North target, PDM target and Mutum target.

Following the identification of an extensive gold-in-oxide blanket at PDM in August 2021, a program of diamond drilling was initiated in late 2021 in order to test for the presence of an underlying zone of primary gold mineralization in the un-weathered granitic basement rocks similar to that at MG and Central.

Results are currently pending on three additional diamond-drill holes at PDM. That diamond-drill rig was redeployed to, and is currently operating at the Machichie target. Following the receipt of drill results from the final three holes, a follow-up diamond-drill program will be planned. Thus far, 6 of the 14 initial diamond drill holes in testing the basement rocks at PDM have returned excellent results and further drilling is definitely warranted. Infill RC drilling of the overlying gold-in-oxide blanket at PDM has commenced, and is testing on a tighter spaced grid, with the objective of better constraining the high-grade core to the blanket in order to better define underlying basement drill targets.

Cabral continues to drill with five rigs currently operating within the Cuiu Cuiu district. Three of the diamond drill rigs are drilling to define the high-grade core zones and expand the known resources at the Central and MG gold deposits, as well as to expand and better define the size of Cabral's discoveries at PDM and Machichie. The company-owned RC rig will continue to search for and define near-surface oxide mineralization, while the fourth diamond rig will test regional more advanced targets.