Cabral Gold: Identifies a New Mineralized Structure at Indio Target and Provides Tracaja Drill Update

Vancouver, British Columbia – January 20, 2020 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) (OTC: CBGZF) is pleased to provide an update regarding the current reconnaissance RC drilling at Tracaja and the identification of a compelling new drill target at Indio, within the Cuiú Cuiú gold district in northern Brazil.

Highlights are as follows;

• Reconnaissance surface sampling at the Indio target returned gold values from quartz-sulphide float material up to 137.8 g/t gold. Reconnaissance drilling is planned during the second half of January
• A northeast-trending vein structure has been identified in reconnaissance drilling at the Tracaja target where a total of seven reconnaissance RC holes have been completed to date. Nineteen surface grab samples collected from the edge of historic placer workings at Tracaja in November 2020, returned gold values of 24.2 g/t to 165.0 g/t gold and averaged 74.9 g/t gold

Alan Carter, Cabral’s President and CEO commented, “The identification of high-grade quartz-sulphide mineralization on surface at the Indio target, with values up to 137.8 g/t gold, is very encouraging and will be tested by reconnaissance drilling over the next couple of weeks. Similarly, the identification of a NE-trending mineralized vein system at Tracaja is significant and gives us a mineralized structure that we can now trace along strike and down-dip in order to determine which part of the structure is the source of the high-grade blocks found on surface. It is important to note that our reconnaissance drill program continues in parallel with follow up drilling using a larger contract RC rig which is having excellent success at the Machichie target. The Cuiú Cuiú district was not the largest placer gold area in the world’s third largest placer gold region for no reason, and our exploration program is only just starting to reveal the grade and size of this exciting gold district”.

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