Cabral Gold Appoints Luiz Celaro as Construction Manager for Cuiú Cuiú Gold Project
Cabral Gold Appoints Luiz Celaro as
Construction Manager for Cuiú Cuiú Gold
Project
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2025) -
Cabral Gold Inc.
(TSXV: CBR) (OTC
Pink: CBGZF) ("Cabral" or the
"
Company
"
)
is pleased to announce that it has appointed Mr. Luiz
Celaro as Construction Manager for the Cuiú Cuiú heap leach starter project, effective immediately.
Alan Carter, Cabral's President and CEO, commented
, "We are very pleased that Luiz has elected to
join our team. He brings a wealth of valuable expertise and experience in terms of building and
operating both large and small mining projects in Brazil, particularly heap leach gold projects. His
appointment marks another important step in our transition from a junior exploration focused
company to a junior producer. We look forward to working with Luiz to deliver the updated PFS, and an
anticipated construction decision for our initial heap leach starter project, in the next few months."
Luiz Celaro is a mining engineer with an MBA in Environmental Management, and has experience and
expertise in project leadership, construction, and operations in the mining and metals sector. He has
previously held various positions at Vale, including Vice President based in New York. Luiz has
managed seven gold mining projects of varying scales, including six on mine construction projects,
several of which were heap leach gold projects. With a track record of driving large-scale mining projects
to completion across Brazil, Mozambique, and Guyana, Luiz is experienced in leading teams and
optimizing operations to deliver projects on time and within budget, while ensuring compliance with
safety, environmental, and social standards.
Mr. Celaro was educated at the University of Nottingham, UK and the Universidade Federal do Rio
Grande do Sul. Brazil. He also has an MBA in Environmental Management from the Fundação Getulio
Vargas, Brazil.
Mr. Celaro has extensive experience of building and operating heap leach gold projects in tropical
environments. Specifically, he was the Senior Construction Manager at the Amapari project in northern
Brazil, which at that time (2004 - 2006) was the largest heap leach gold project in Brazil. In addition, he
was the Project Director at the Aurizona gold project (now owned by Equinox Gold) from mid-2006 until
early 2010. More recently he was the Director for Fides Mining, a private Brazilian company, which
developed and operated the Mina União heap leach gold project near Peixoto in northern Matto Grosso.
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. Three main gold deposits have so far been defined at the Cuiú Cuiú project which
contain National Instrument ("NI") 43-101 compliant Indicated resources of 12.29Mt @ 1.14 g/t gold
(450,200oz) in fresh basement material and 11.11Mt @ 0.48 g/t gold (171,883oz) in oxide material. The
project also contains Inferred resources of 13.63Mt @ 1.04 g/t gold (455,100oz) in fresh basement
material and 12.22Mt @ 0.39 g/t gold (151,608oz) in oxide material. The resource estimate for the
primary material is based on the NI 43-101 technical report dated October 12, 2022.The resource
estimate for the oxide material is based on an NI 43-101 compliant estimate released on October 21,
2024.
The Tapajós Gold Province is the site of the largest gold rush in Brazil's history which according to the
ANM (Agência Nacional de Mineração or National Mining Agency of Brazil) produced an estimated 30
to 50 million ounces of placer gold between 1978 and 1995. Cuiú Cuiú was the largest area of placer
gold 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. 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.
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https://www.newsfilecorp.com/release/252238