Lavras Gold has intersected high-grade gold mineralization at shallow depths across both the Caneleira target and the Caneleira East gold discovery within the Lavras do Sul Project in southern Brazil.

The campaign completed in June 2026 tested for near-surface continuity of the vein system at Caneleira and up-dip extensions at Caneleira East. At Caneleira, hole 26CN044 intercepted 24.30 grams per tonne gold over 9 metres from 87 metres, including 99.56 grams per tonne gold over 0.85 metres from 92.73 metres. Shallow drilling also traced mineralization near surface, highlighted by hole 26CN051 returning 9.31 grams per tonne gold over 4 metres from 10 metres downhole, including 17.29 grams per tonne gold over 2 metres.

At Caneleira East, about 3.1 kilometres northeast of the Butia Gold Deposit, drilling confirmed gold mineralization closer to surface. Hole 26CNO022 returned 2.51 grams per tonne gold over 22 metres from 78 metres, including 20.08 grams per tonne gold over 1 metre from 85 metres. Hole 26CNO024 returned 1.87 grams per tonne gold over 18 metres from 49 metres, including 6.39 grams per tonne gold over 4 metres, while hole 26CNO021 intercepted 3.10 grams per tonne gold over 13 metres from 51 metres. Lavras also disclosed historical hole-by-hole results from 15 holes completed at Caneleira East during 2024 and 2025.

Assay results for the final six holes of the 2026 campaign, numbered 26CN052 to 26CN057, remain pending.

Lavras plans to incorporate the Caneleira results into an initial Mineral Resource Estimate for the concession. This work will sit alongside updated resource estimates for the Fazenda-Butia and Cerrito deposits—which host measured and indicated resources containing 377,000 ounces and 188,000 ounces of gold respectively—and an initial resource estimate for Matilde as part of a consolidated review.

“Advancing Fazenda-Butia through permitting remains our core focus. What has changed with these results is that we now have further evidence of high-grade gold close to surface across the Caneleira Mining Concession.”

— Federico Velásquez, President and Chief Executive Officer, Lavras Gold

Read the full announcement: Lavras Gold Intersects High-Grade Gold at Caneleira, Supporting Near-Surface Continuity of the Vein System