Cabral Gold Drills 34m @ 5.4 g/t gold Including 13m @ 13.4 g/t gold at the Machichie target, Cuiú Cuiú District, Brazil

Vancouver, British Columbia – January 7, 2020 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) (OTC: CBGZF) is pleased to announce drill results from the Machichie and Medusa targets, and provide an update regarding the current reverse circulation (“RC”) drilling program which is designed to test multiple targets within the Cuiú Cuiú gold district in northern Brazil.

Highlights are as follows;

• At the Machichie target, the initial RC drill hole, 40-20, returned 34m @ 5.4 g/t gold including 13m @ 13.4 g/t gold, within which a bonanza grade section returned 3m @ 48.2 g/t gold. This hole is an important step-out hole and was drilled 175m east of the initial Machichie discovery hole which returned 62.8m @ 0.9 g/t gold including 2.1m @ 15.3 g/t gold and 45m @ 1.0 g/t gold including 3.1m @ 7.3 g/t gold
• Hole 41-20 was drilled 50m east of hole 40-20 and intersected 20m @ 1.2 g/t gold including 1m @ 10.0 g/t gold indicating that the mineralized zone at Machichie continues along strike and is open to the east
• Reconnaissance drilling at the Medusa target aimed at identifying the source of mineralized surface boulders averaging 24.7 g/t gold has intercepted a mineralized structure directly below the mineralized float on surface, which will require further drilling 

Alan Carter, Cabral’s President and CEO commented, “These very high-grade results from initial step-out RC drill holes at the Machichie target at Cuiú Cuiú, confirm our belief that Machichie is a significant mineralized zone, and in all likelihood, the third significant gold deposit within the Cuiú Cuiú district. The grade and width of the mineralized intersection in hole 40-20 is the best we have seen so far at Machichie, and these holes significantly extend the mineralized zone to the east. Further drilling along strike and down dip will clearly be required to fully determine the size of the Machichie discovery. The reconnaissance drilling at Medusa has also intersected a new mineralized zone at depth which is very encouraging and will require follow-up drilling. With two rigs currently drilling, and an aggressive surface exploration program in progress at Cuiú Cuiú, we look forward to a steady stream of results during the first half of 2021”.

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