Cabral Gold Achieves Major Permitting Milestone with the Granting of the LP for Full Mining License at Cuiu Cuiu Gold District, Brazil

Key Takeaways

• LP granted, Brazil’s toughest mining permit secured
• Phase 1 capacity can double to 1 Mt/yr
• Phase 2 hard‑rock development now on clear path
• 12.3 Mt @ 1.14 g/t gold indicated resources confirmed
• Public hearings achieved 100% community approval

Summary

Cabral Gold Inc. announced that Pará’s Environmental Council (COEMA) has issued the Licença Prévia (LP) for a full mining license at the Cuiú Cuiú gold district in Brazil. The LP clears the most time‑intensive stage of Brazil’s permitting process, de‑risking both the under‑construction Phase 1 oxide expansion and the larger Phase 2 hard‑rock development. With the LP, Phase 1 can scale from 500,000 to 1 million tonnes per year, while Phase 2 now has a clear path to installation and operating licences. The project holds NI 43‑101 indicated resources of 12.3 Mt @ 1.14 g/t gold (≈450 k oz) in fresh basement material and 13.6 Mt @ 0.50 g/t gold (≈216 k oz) in oxide material.

Pulse Analysis

Brazil’s mining regulatory framework is notoriously complex, with the Licença Prévia representing the most rigorous environmental and social review. Cabral Gold’s recent LP approval signals that the company successfully navigated COEMA’s multi‑agency scrutiny and secured unanimous community support. This achievement not only validates the project’s environmental stewardship but also sets a benchmark for other junior miners seeking to operate in the Tapajós region, where permitting delays have historically hampered development.

The Cuiú Cuiú district hosts a robust resource portfolio, featuring over 450,000 ounces of indicated oxide gold and more than 216,000 ounces of indicated hard‑rock gold. Phase 1, currently under construction, can now expand its processing capacity to one million tonnes annually, effectively doubling output potential. Phase 2, targeting the deeper basement deposits, benefits from a clarified licensing roadmap, allowing Cabral to fast‑track installation (LI) and operating (LO) licences within months. These operational upgrades are expected to improve cash flow forecasts, lower the all‑in sustaining cost, and position the project as a competitive mid‑tier gold producer.

For investors, the LP milestone translates into a tangible de‑risking catalyst that could unlock equity upside and attract strategic partners. In a market where gold prices remain elevated due to macro‑economic uncertainty, Cabral’s cleared path to production enhances its appeal relative to peers still awaiting permits. The company’s next steps—securing LI and LO licences and scaling Phase 1—will be closely watched, as successful execution could reinforce Brazil’s resurgence as a premier gold mining jurisdiction and contribute to broader supply dynamics.