Boa Vista — project

Gold exploration project in the Tapajós Mineral Province, Pará State, Brazil, held 84.05 % indirectly through the Boa Vista Gold (BVG) joint venture. Three exploration licences cover ~9,201 ha; Final Exploration Report approved by ANM November 22, 2019; PAE filed with ANM 2022. On July 1, 2025 Cabral and JV partner Majestic entered a binding term sheet with Australian Mines Limited (AUZ) granting AUZ the right to earn up to an 80 % interest in the project. A US$1.5M bonus is payable to the vendor if a >3 Moz NI 43-101 P&P gold reserve is defined.