Cabral Gold Appoints New Directors
Cabral Gold Appoints New Directors
Vancouver, British Columbia – August 8, 2023 – Cabral Gold Inc. (“Cabral” or the
“Company”) (TSXV: CBR) (OTC: CBGZF) is pleased to announce the appointment of Jon
Gilligan, Ian Gendall and Larry Lepard to its Board of Directors, effective immediately.
Alan Carter, Cabral’s President and CEO commented, “I am very pleased to welcome Jon, Ian
and Larry to the Board of Directors. Our ongoing Prefeasibility Study on the near surface gold-
in-oxide material at the Cuiú Cuiú district, and the recent transaction with Osisko Gold Royalties,
means that additional skills and expertise will be required at the Board level. The fact that
experienced and successful industry participants in the form of Jon, Ian and Larry have agreed
to join our Board is another significant endorsement of the Cuiú Cuiú gold district.”
Jon Gilligan has 35 years experience and a PhD in Geology (gold). He is currently the COO of
Liberty Gold and previously held senior positions with Torex Gold, SSR Mining Inc., and BHP.
Jon has extensive experience in advancing and building mines around the world including the
Marigold open-pit heap leach operation, Nevada, USA; Chinchillas open pit mine, Argentina;
Olympic Dam Expansion Project, South Australia and the Escondida and Escondida Norte
mines in Chile. He was previously Manager Mine Operations at the giant Escondida copper
mine in Chile. Jon has a proven track record of building high-performance exploration,
development and operational mining teams in challenging environments
Ian Gendall is the President & CEO of DLP Resources and was previously with Gencor, Billiton,
Anglo American, Antofagasta and more recently OceanaGold. Whilst working with Billiton, Ian
led the team that was responsible for the discovery of an entirely new porphyry copper district in
southern Ecuador. One of the companies that acquired part of the district was subsequently
sold to CRCC-Tongguan Investment Co., Ltd. for $679M. He has extensive knowledge of
operating in Brazil and in particular the Tapajos region and was previously COO of Magellan
Minerals.
Larry Lepard is Managing Partner at Equity Management Associates, an investment fund
focused on the precious metals sector and which has over US$60M under management. Larry
previously spent 25 years as a professional investor and venture capitalist with Geocapital and
Summit Partners, and has an MBA with Academic Distinction from Harvard Business School
and a BA in Economics from Colgate University.
The appointments of Jon, Ian and Larry to the Board brings the total number of Board members
to six. They join the existing Board members of Mark Smith, Alan Carter and Sami Arap.
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) as per the 43-101 technical report dated October 12, 2022.
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 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.
Guillermo Hughes, MAusIMM and FAIG., a consultant to the Company as well as a Qualified Person as
defined by National Instrument 43-101, supervised the preparation of the technical information in this
news 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.