Vancouver, British Columbia--(Newsfile Corp. - October 25, 2022) - Cabral Gold Inc. (TSXV: CBR) (OTC Pink: CBGZF) ("Cabral" or the "Company") is pleased to announce the appointment of Sami Arap Sobrinho to Cabral's Board of Directors with immediate effect.
Sami Arap Sobrinho is the founding member and senior partner of Arap, Nishi & Uyeda Advogados, a boutique law firm based in São Paulo, with expertise in mining, infrastructure project development and finance, foreign investments, corporate and M&A, tax planning and real estate properties.
Sami advises several investors in the mining sector in Brazil and abroad. In addition to acting for Cabral since 2017, he previously acted as General Counsel of Brasil Telecom S.A. (2002-2005), Enron South America (1999-2002) and Odebrecht Construction Co. (1996-1999). He holds an LL.B. degree from the Catholic University of São Paulo - School of Law (1987) and a Master of Comparative Jurisprudence degree from New York University - School of Law (1991).
Carlos Vilhena has elected to resign from the Board of Directors to pursue other opportunities. However, Mr. Vilhena will remain as an advisor to the Company. On behalf of the Board of Directors and the Company's shareholders, the Company wishes to thank Mr. Vilhena for his time and efforts aimed at advancing the Company.
Alan Carter, Cabral's President and CEO commented, "We are extremely pleased that Sami has agreed to join the Board of Directors of Cabral Gold. His position as a founding member and senior partner of Arap, Nishi & Uyeda Advogados provides Cabral with a breadth of relevant experience and a wide network throughout Brazil. He is well qualified to assist us as we continue to advance the Cuiú Cuiú district located in the Tapajos region of Para state. I would also like to take this opportunity to thank Carlos Vilhena for his time and efforts. Our Company has benefitted greatly from Carlos' experience and expertise and we look forward to Carlos' continued insights as an advisor to the Company."
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).
The Tapajós 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. 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:
President and Chief Executive Officer
Cabral Gold Inc.
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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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