11:25 AM EDT, 10/16/2025 (MT Newswires) -- Cabral Gold ( CBGZF ) said Thursday that it secured a US$45 million gold loan agreement with Precious Metals Yield Fund to advance its Cuiu Cuiu heap leach gold starter project in Brazil.

The loan allows the company to fully fund the project, which has an estimated capex of $37.7 million.

Cabral said the loan has a term of 39 months with an annual interest rate of 10%.

The company said the loan's principal and interest are forecast to account for under 14% of the gold produced during the project's life and 32% of the gold produced during the loan's life.

"This gold loan agreement is a monumental step forward for our company and provides a complete funding solution for the construction of our heap leach starter project, without any significant further dilution to our capital structure," president and chief executive officer Alan Carter said.

Cabral surged near 21% at last look Thursday to $0.58 per share on the TSX Venture Exchange.

Price: 0.58, Change: +0.10, Percent Change: +20.83