Cabral Gold: Identifies New High-Grade Target and Provides Results on the First Three RC Holes from the Alonso Target, Cuiú Cuiú Gold District

Cabral Gold Identifies New High-Grade Target and Provides Results on the First Three RC Holes from the Alonso Target, Cuiú Cuiú Gold District

Vancouver, British Columbia – October 20, 2020 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) (OTC: CBGZF) is pleased to announce the identification of a new high-grade target, and assay results from the initial three RC holes drilled at the Alonso high-grade boulder target at the Cuiú Cuiú gold district in northern Brazil. Highlights are as follows;

• Dona Moca target – The ongoing regional reconnaissance program at Cuiú Cuiú has identified a new high-grade target at Dona Moca which is located 1.6km ENE of the Medusa target. Surface grab samples at Dona Moca returned gold values of 108.3 g/t, 32.0 g/t, 21.9 g/t and 3.9g/t gold in surface cobbles
• Medusa target – Soil sampling in and around the Medusa target has identified a large coherent gold-in-soil anomaly which extends at least 1.4km and has a pronounced ESE trend, extending east of the previously reported high-grade boulders which range from 1.1 to 82.2 g/t gold. The presence of this anomaly suggests that Medusa could be a significant mineralized zone and may in part explain why so much placer gold was historically extracted from the adjacent stream which drains to the north 
• Alonso target – Results have been received on the initial three RC holes completed at the Alonso target. Two of the three holes were drilled 150m east of the high-grade boulders at Alonso while the third was drilled south of the target. These initial holes did not intersect any high-grade gold mineralization. Results are pending on an additional twelve RC holes and the current drill program is continuing

Alan Carter, Cabral’s President and CEO commented, “The identification of another new high-grade gold target at Dona Moca and a significant gold-in-soil anomaly at Medusa are both positive developments that continue to highlight the potential for discovering additional gold deposits in the eastern part of the Cuiú Cuiú concession area. The current drill program will test at least 10 different targets at Cuiú Cuiú and will take several months to complete. Whilst the first three RC holes at the initial Alonso target did not intercept high-grade mineralization at depth, results are pending on 12 additional drill holes, and we remain committed to identifying the source of the high-grade boulders on surface”.

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