Cabral Gold, Inc. · TSXV:CBR
Cabral Gold — Investor Presentation (November 2026)
33 slides from Cabral Gold's investor presentation, November 2026
Slide 1: The Cuiú Cuiú Gold District, Brazil's Newest Gold Mine
TSXV: CBR OTC: CBGZF The Cuiú Cuiú Gold District, Brazil’s Newest Gold Mine Ramp up to Commercial Production in Progress Corporate Presentation | November 2026 District scale potential cabralgold.com
Slide 2: Disclaimer
Disclaimer The material presented herein is private and confidential. The contents are not to be reproduced or distributed to any third party, including the public or press. Certain statements contained in this presentation constitute forward-looking statements. These statements relate to future eve
Slide 3: Why Cabral Gold?
Why Cabral Gold? Fully Funded Phase 1 Mine Undergoing Commissioning ▪ Self-funding 2 stage development strategy ▪ Phase 1: Mining of oxide material and heap leach operation targeting 25,000oz/yr ▪ First gold pour of 1,130 oz announced September 10, 2026 B R A Z I L ▪ Commercial production expected Q
Slide 4: Leadership Team
Leadership Team M A N A G E M E N T ALAN CARTER SAMANTHA SHORTER RUARI McKNIGHT ELTON PEREIRA PRESIDENT, CEO & DIRECTOR CHIEF FINANCIAL OFFICER PRESIDENT BRAZIL (BSc) VP EXPLORATION (BSc, MSc) (BSc, PhD ) (CPA, CA, CIA) Co-founded Serabi Gold and ex- Geologist with more than 30 years of 35 years exp
Slide 5: Leadership Team: Directors
Leadership Team D I R E C T O R S ALAN CARTER JON GILLIGAN LARRY LEPARD PRESIDENT, CEO & DIRECTOR CHAIR (BSc., PhD) (BA, MBA) (BSc, PhD ) +35 years of experience advancing Managing Partner at Equity 35 years experience, 13 years with and building mines around the Management Associates, a precious Ri
Slide 6: Corporate Snapshot
1-year Historic Chart for CBR Corporate Snapshot Capital Structure Shareholders Share Price (November 6, 2026) C$1.29 Insiders Basic Shares Outstanding 347,601,620 8% Restricted Share Units 2,436,593 Stock Options (avg. price $0.58) 19,391,000 Retail Warrants (avg. price $0.97) 48,221,076 35% Fully
Slide 7: Tapajós Gold Province
Tapajós Gold Province Site of world’s largest gold rush and an emerging world-class gold district Largest Producer of Placer Gold N Bom Jardim - Cabral Gold Cuiú Cuiú - Cabral Gold Primary Ind. Resources 0.45Moz– (12.29Mt @ 1.14 g/t gold) Cabral’s Cuiú Cuiú project was the largest producer of Oxide
Slide 8: Proximity of Cuiú Cuiú to Tocantinzinho
Proximity of Cuiú Cuiú to Tocantinzinho LEGEND Recent discovery Similarities Deposit N Road ▪ Cuiú Cuiú is located adjacent to GMining’s Tocantinzinho gold mine. Both projects are located on the Tocantinzinho lineament, and are intrusive hosted, Cuiu Cuiu produced an estimated GMining disseminated g
Slide 9: Existing Primary gold deposits and recent discoveries
Existing Primary gold deposits and recent discoveries PDM Discovery Drill results from recent discoveries include; J Cima Discovery PDM 22m @ 4.8g/t gold, 18m @ 2.5g/t gold 47m @ 1.8g/t gold JB Gold Deposit J Cima 9.5m @ 87.4 g/t gold 39m @ 5.1 g/t gold Central Gold Deposit 49m @ 2.0g/t gold Machich
Slide 10: Central Gold Deposit
LEGEND Central Gold Deposit Open Drill intercepts High-grade vein zones Mineralized body Central is the largest gold deposit discovered so far at Cuiú Cuiú and is 1.2km long and up to 100m wide. CC_118-0.5m@58.7g/t Resources are currently being updated and were last updated in September 2022 and com
Slide 11: Central Trend
Central Trend New discovery at PDM: PDM Discovery The identification of a gold-in-oxide blanket at PDM (2.5km NW of Drilling 22m @ 4.8g/t gold, Central) has led to the discovery of underlying primary gold mineralization PDM Gold-in-oxide target 18m @2.5g/t gold and Drilling 40m @ 2.2g/t gold, 46m @
Slide 12: Primary MG Gold Deposit
Primary MG Gold Deposit The high-grade zones at MG (which are surrounded by lower grade envelopes) pictured in the map in red extend for hundreds of metres along strike High-Grade Core to Deposit Emerging MG is one of two known gold deposits discovered so far at Cuiú Cuiú. The deposit is open down-d
Slide 13: Machichie Complex
Machichie LEGEND N Complex Mineralization Zone RC0520 12.0 m@ 27.7g/t Au from 42m Drill Hole Collars Including Known Limit to RC0449 Machichie West Trenches 5.0m @ 65.5 g/t Au from 10m 6.0m @ 13.3g/t Au from 79m gold-in-oxide Several new hard rock mineralization 96.5m @ 0.6 g/t Au 138m @ 0.5 g/t Au
Slide 14: Jerimum Cima
Jerimum Cima Located 3km ENE of Central gold deposit and 3.5km NW of the MG gold deposit Recent discovery of E-W trending mineralized zone traced 900m along strike and open to east. Drill results incl. 9.5m @ 87.4 g/t gold, 39m @ 5.1 g/t, 47m @ 2g/t & 82.6m @ 1g/t incl. 9.5m @ 5.7 g/t gold Deep weat
Slide 15: Regional Potential Targets Outside Existing Deposits
Regional PotentialTargets Outside Existing Deposits Cilmar B: 1.4 – 12.3g/t Fofoca JN PDM Mutum G: 99.8g/t T: 5.3 @ 24g/t Chiquierinho T: 32m @ 1g/t B: <46.3g/t Morro da Lua D: 2.8m @ 19.5g/t Grota Rica MG B: 2.4 – 153.8g/t Deposits JB Central Central North J Cima D: 39.4m @ 1.3g/t B: 39m @ 5.1g/t P
Slide 16: Alonso target; an example
Alonso target; an example High-grade boulders on surface, unexplained source ▪ Target located 3km SE of MG, with 24 samples of quartz vein float returning values from 11.6 to 200.3 g/t gold (av. 91.7 g/t gold) on surface Gold nugget in panned stream sediment sample at Alonso ▪ Quartz vein boulders e
Slide 17: Initial Stage 1 Heap Leach Operation
District requires significant Investment District-scale of Cuiú Cuiú and large number of targets that require further drilling means that significant drilling will be required to determine size of global resource. Management believes that continued reliance on raising capital through dilution to the
Slide 18: Gold-in-oxide zones identified to date
Gold-in-oxide zones identified to date MG, Central and Machichie Main gold deposits PDM Oxide blanket contain Indicated Resources included in the 43-101 PFS Study of July 2025. PDM contains Inferred Resources and Jerimum Cima is a new discovery Jerimum Cima Oxide blanket Updated resource estimate ex
Slide 19: MG Gold-in-Oxide Material
MG Gold-in-Oxide Material S N Near-surface, Focus of Starter operation ▪ MG is largest of five gold-in- ▪ Oxide Indicated Resources at ▪ Heap leach metallurgical Oxide Gold Blanket oxide zones identified to date MG of 8.86Mt @ 0.5 g/t tests returned 92-93% gold (MG, Central, Machichie, PDM (135,855o
Slide 20: Gold-In-Oxide Resources & Reserves
Gold-In-Oxide Resources & Reserves Resources Gold-in-oxide blankets Cut-off Inferred Resources Indicated Resources Grade Five gold-in-oxide blankets identified at Central, MG, PDM, Machichie and, most recently Jerimum Cima, have so far been identified within the Grade Grade Ounces 0.1 g/t Tonnes Oun
Slide 21: PFS Economic Analysis
PFS Economic Analysis Area Detail US$ (M) Process Plant Heap Leach Pads 5.89 Operational Assumptions UOM Process Equipment 7.92 Contained Gold oz 128,926 Infrastructure Mill and Heap Leach Capacity t/annum 1,000,000 Onsite 5.66 Monthly Plant Feed tonnes 83,333 Offsite 1.58 LOM Mined Grade g/t 0.65 E
Slide 22: PFS – Processing route for gold-in-oxide material
PFS – Processing route for gold-in-oxide material Simple Processing Route MMD SIZER RUN OF MINE No crushing or grinding. Column leach tests returned 72.5 to 96% gold recoveries. Average gold recovery of 88% assumed for PFS ON-OFF PADS AGGLOMERATING Processing Plant Design for 3,000 tpd Capacity DRUM
Slide 23: PFS Highlights
PFS Highlights 2024 Low Base High US$M Upside PFS Case Case Case Attractive gold-in-oxide starter project Ausenco Updated PFS released on July 29, 2025, confirms a very attractive Gold Price (US$/oz) 2,250 2,250 2,500 3,000 3,500 gold-in-oxide starter project using Heap Leach processing of gold-in-o
Slide 24: Photos
Photos Dry circuit showing ROM ore bin in foreground, sizer and cement ADR and CIL columns in wet circuit area silo and agglomerating drum and conveyors Irrigation pipework being laid on heap leach pad Gold dore resulting from commissioning process containing 1,130oz of gold TSXV: CBR | OTC: CBGZF |
Slide 25: Project Timeline: Q4 2026 to Q4 2027
Project Timeline: Q4 2026 to Q4 2027 2026 2027 Q4 Q1 Q2 Q3 Q4 Ramp-up Oct–Nov 2026 Commercial production Dec 2026 Phase 1 Oxide Hub 1 (OH1) expansion Dec 2026 – Q3 2027 PFS on OH2 (similar to OH1) Dec 2026 – Q4 2027 Construction decision End 2027 PEA on Phase 2 mine (hardrock) Dec 2026 – Q3 2027 Pha
Slide 26: Short Term Catalysts
Short Term Catalysts 1. Commercial Production Phase 1 Expected Q4 2026 2. Updated Global Resource Estimate Expected by end Q4 2026. Last update September 2022. Three gold deposits were modelled in 2022. Six deposits will be included in the next update. ~ 50,000m drilled since September 2022 3. Phase
Slide 27: Opportunity
Opportunity Stage 1 Mine Completed 2 months Existing Resource Base with ahead of schedule. Commercial Significant Upside production expected Q4 2026 Primary Indicated resources; 12.29Mt @ 1.14 g/t gold July 2025 PFS ($2500/oz base case) resulted in IRR of (450,200oz) + oxide res 13.56Mt @ 0.50 g/t g
Slide 28: Thank you
Thank you Contact information Alan Carter PRESIDENT & CEO Email: alan@cabralgold.com Ph: 604 676 5660
Slide 29: Appendices
Appendices TSXV: CBR | OTC: CBGZF | CABRALGOLD.COM BRAZIL’S NEW EST GOLD MINE W ITH DISTRICT SCALE POTENTIAL 29
Slide 30: Global Resource Inventory
Indicated and Inferred Mineral Resources Global Resource Indicated Inferred Tonnes Grade Gold Tonnes Grade Gold Deposit / Ore Type (kt) (g/t Au) Ounces (kt) (g/t Au) Ounces Inventory Central Oxide Primary OP 3,365 7,500 0.52 0.91 56,200 219,940 942 8,470 0.45 0.91 13,600 247,500 Primary UG - - - 1,2
Slide 31: Gold-in-oxide resources and reserves
Gold-in-oxide resources and reserves Probable Reserves Resources Tonnes Grade g/t Ounces Cut-off Grade Inferred Resources Indicated Resources MG 4,035,000 0.64 82,912 Grade Grade Ounces 0.1 g/t Tonnes Ounces Tonnes Central 1,511,000 0.62 29,959 g/t g/t Machichie 632,000 0.79 16,032 MG 3,142,921 0.22
Slide 32: PFS Project sensitivities
PFS Project sensitivities After Tax IRR After Tax NPV5 Total Operating Total Operating Initial Capital Initial Capital Costs Costs Gold Gold After-Tax NPV5 After-Tax IRR Price -20% +20% -20% +20% Price Base Case Base Case -20% +20% -20% +20% US$/oz US$/oz (US$M) 2,250 59% 83% 44% 73% 45% 2,250 54.8
Slide 33: US$45 million gold loan
US$45 million gold loan Construction Financing through a US$45M gold loan • US$45M gold loan closed on 26th November 2025 with Precious Metals Yield Fund (PMYF), an affiliate of the Phoenix Gold Fund, Cabral’s largest institutional shareholder • Outstanding balance shall be expressed in fine gold kg