Cabral Gold Announces $3M Private Placement Financing

Cabral Gold Announces $3M Private

Placement Financing

Vancouver, British Columbia--(Newsfile Corp. - October 30, 2024) -

Cabral Gold Inc. (TSXV: CBR)

(OTC Pink: CBGZF) ("Cabral" or the

"

Company

") is pleased to announce the terms of a non-

brokered private placement of up to 10,000,000 units of the Company (the "

Units

") at a price of $0.30

per Unit for gross proceeds of up to $3,000,000 (the "

Private Placement

").

Each Unit will consist of one

common share in the capital of the Company (a "

Common Share

") and one-half of one common share

purchase warrant (each whole common share purchase warrant, a "

Warrant

").

Each Warrant will entitle

the holder to purchase one Common Share at an exercise price of $0.45 for two years following the date

of closing of the Private Placement (the "

Closing Date

").

Cabral may pay finder's fees in connection with the Private Placement.

Finders will be paid a cash

commission equal to up to 6.0% of the gross proceeds of the Private Placement.

The Company intends to use the net proceeds from the Private Placement for general corporate

purposes and to complete drilling and detailed engineering following the recently completed pre-

feasibility study on a starter operation designed to target weathered gold-in-oxide material at the Cuiú

Cuiú gold district.

The securities issued pursuant to the Private Placement will be subject to a four-month hold period from

the Closing Date.

Completion of the Private Placement and the payment of any finder's fees will be

subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture

Exchange.

About Cabral Gold Inc.

The Company is a junior resource company engaged in the identification, exploration and development

of mineral properties, with a primary focus on gold properties located in Brazil.

The Company has a

100% interest in the Cuiú Cuiú gold district located in the Tapajós Region, within the state of Pará in

northern Brazil. Two main gold deposits have so far been defined at the Cuiú Cuiú project which contains

National Instrument 43-101 compliant Indicated resources of 21.6Mt @ 0.87 g/t gold (604,000 oz) and

Inferred resources of 19.8Mt @ 0.84 g/t gold (534,500 oz).

The Tapajós Gold Province is the site of the largest gold rush in Brazil's history producing an estimated

30 to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer

workings in the Tapajós and produced an estimated 2Moz of placer gold historically.

FOR FURTHER INFORMATION PLEASE CONTACT:

"Alan Carter"

President and Chief Executive Officer

Cabral Gold Inc.

Tel: 604.676.5660

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in

the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.

Forward-looking Statements

This news release contains certain forward-looking information and forward-looking statements within

the meaning of applicable securities legislation (collectively "forward-looking statements").

The use of

the words "will", "expected" and similar expressions are intended to identify forward-looking

statements.

These statements involve known and unknown risks, uncertainties and other factors that

may cause actual results or events to differ materially from those anticipated in such forward-looking

statements.

Such forward-looking statements should not be unduly relied upon.

This news release

contains forward-looking statements and assumptions pertaining to the following; "The Company

intends to use the net proceeds from the Private Placement for general corporate purposes and to

further the ongoing prefeasibility study on the weathered gold-in-oxide material at the Cuiú Cuiú gold

district".

The manner in which the Company allocates the proceeds from the Private Placement and

repays the Loan Agreement may vary from the information provided herein as a result of numerous

known and unknown risks and uncertainties and other factors.

The Company believes the

expectations reflected in those forward-looking statements are reasonable, but no assurance can be

given that these expectations will prove to be correct.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE

UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A

VIOLATION OF U.S. SECURITIES LAWS

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/228326