Cabral Gold (CBR.V): Identifies New High-Grade Target and Provides Update on Drilling at the Cuiú Cuiú Gold District

Vancouver, British Columbia – December 3, 2020 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) (OTC: CBGZF) is pleased to announce the identification of a new high-grade target north of Medusa, and an update on the initial RC drilling at the high-grade Alonso and Medusa targets at the Cuiú Cuiú gold district in northern Brazil. Highlights are as follows;

• Tracaja target – Ongoing regional reconnaissance work within the Cuiú Cuiú district has identified a new high-grade gold target at Tracaja, which is located 1.8km NNE of the Medusa target. Nineteen surface grab samples collected from the edge of historic placer workings, returned gold values of 24.2 g/t to 165.0 g/t gold and average 74.9 g/t gold
• Alonso target Drilling update – Results have been received on a further twelve reconnaissance RC holes at the initial Alonso target. None of the holes encountered any significant gold mineralization. Several additional holes will test alternative trending structural targets and the possibility that the high-grade surface boulders may have been transported further than anticipated
• Medusa target Drilling update – Initial drilling at the Medusa target is in progress. Twenty holes have been drilled to date and assay results are pending
• Machichie / Machichie SW Drilling – A second rig recently arrived and is initially targeting extensions of 2019 high-grade drill results at the Machichie target. Recent surface sampling from the Filao de Amor vein structure in the Machichie SW area returned gold values of 0.5 – 324.5 g/t, with an average of 123.4 g/t gold

Alan Carter, Cabral’s President and CEO commented, “The eastern part of the Cuiú Cuiú district is proving to be just as prolific as the central part where we already have two gold deposits drilled off and multiple high-grade targets. Tracaja has some exceptionally high-grade blocks on surface, but in this particular case, we have strong evidence that the surface blocks are derived from two NE trending veins which are currently submerged under water in an adjacent pit. Whilst the initial drilling at the Alonso target area has not thus far identified the source of the high-grade surface boulders, further drilling is planned to test other possible structural targets”.

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