Vancouver - Cabral Gold Inc. ('Cabral' or the 'Company') (TSXV: CBR) (OTC: CBGZF) is pleased to provide the results from recent surface sampling at the Jerimum Meio (JM) target, and provide an update on the current drill program within the Cuiu Cuiu gold district in northern Brazil.

Highlights are as follows

An outcropping east-west trending vein structure has been identified in surface reconnaissance work at the JM target located 2.2km NW of the MG gold deposit. Channel sampling of the new vein structure has returned 0.9m @ 35.3 g/t gold (open)

Surface grab sampling completed at the JM vein structure during December 2020 returned gold values of 23.7, 42.6, 126.4, 145.8, 162.2 and 700.2 g/t gold. The JM structure has never been previously drill-tested and will be included in the reconnaissance drill program

Follow-up drilling is in progress at the Machichie NE target where a single hole drilled in 2019 returned 15.9m @ 1.7 g/t gold including 0.5m @ 21.3 g/t gold. Machichie NE is located 150m north of the Machichie target, which recently returned 34m @ 5.4 g/t gold

The reconnaissance drill program has been temporarily suspended due to an outbreak of Covid-19, resulting in positive tests for 10 employees. The reconnaissance drill program is based out of a different location to the follow-up drilling which is in progress at Machichie

Alan Carter, Cabral's President and CEO commented, 'The identification of outcropping high-grade quartz-sulphide mineralization at the JM target is further evidence that numerous high-grade veins occur within the Cuiu Cuiu district. Unlike other recently identified targets in the eastern part of the district, the high-grade gold mineralization at JM is exposed on surface which allows us to much more confidently predict the location and orientation of the mineralized structure at depth at this previously undrilled target. Drilling of this target, which was originally planned for early February, is likely to be delayed until mid-late February due to a recent outbreak of Covid-19 at our reconnaissance drill camp. Thankfully all of the affected personnel are exhibiting only mild symptoms. Follow-up drilling is however continuing at the Machichie NE target which is located immediately north of the MG gold deposit'.

JM Target

The JM target at Cuiu Cuiu is located 2.2km NW of the MG deposit and 1.8km NW of the Machichie discovery where recent drilling returned 34m @ 5.4 g/t gold including 13m @ 13.4 g/t gold.

JM has never been previously drill-tested due to the lack of surface outcrop but recent surface sampling has revealed an outcropping quartz vein trending ENE adjacent to a stream draining from north to south where abundant placer gold has been recovered. The airborne magnetic data also suggests an E-W trending structure at this location.

Grab samples taken in December 2020 from the outcropping vein, returned gold values up to 700.2 g/t gold and include 23.7, 42.6, 126.4, 145.8, 162.2 and 700.2 g/t gold. A single channel sample from the outcropping vein returned 0.9m @ 35.3 g/t gold. Sampling was limited by available exposure and the width of the mineralized structure is likely to be greater than 0.9m. The vein is sub-vertical in terms of dip.

In view of the extremely high-grade results from this new mineralized vein structure, this target will be included in the current reconnaissance drill program and an initial six holes are planned.

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 Cuiu Cuiu gold district located in the Tapajos Region, within the state of Para in northern Brazil. Two gold deposits have so far been defined at Cuiu Cuiu and contain 43-101 compliant Indicated resources of 5.9Mt @ 0.90g/t (200,000 oz) and Inferred resources of 19.5Mt @ 1.24g/t (800,000 oz).

The Tapajos 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. Cuiu Cuiu was the largest garimpo in the Tapajos and produced an estimate 2Moz of placer gold historically.

Contact:

Alan Carter

Tel: 604.676.5660

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: strategic plans and future operations, and results of exploration. Actual results achieved 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.

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