Lavras Gold Corp. has approved an accelerated diamond drilling program comprising approximately 25,000 metres dedicated to the Caneleira Target at its Lavras do Sul Project in Rio Grande do Sul, Brazil.

The approval follows high-grade, near-surface results reported on August 24, 2026, which included hole 26CN044 returning 24.30 grams per tonne gold over 9 metres, and hole 26CN051 intersecting 9.31 grams per tonne gold over 4 metres. The company previously completed 5,461 metres of diamond drilling across 24 holes at the Caneleira Target.

Following a specialist technical workshop, Lavras Gold has reframed Caneleira as a single consolidated target, encompassing Caneleira Central, Caneleira East, and earlier-stage targets to the west and north.

The six-to-eight-month program aims to expand the mineralized footprint, delineate resources, and convert shallow material into Measured and Indicated categories. Priority is given to higher-grade portions with potential to feed the planned processing facility at the nearby Fazenda-Butia development project. In parallel, metallurgical test work will assess gravity-recoverable gold.

Permitting activities are advancing alongside exploration, with Lavras Gold completing Environmental Impact Assessment field studies for its Preliminary Environment License application.

“Completing the EIA field studies is a major permitting milestone for Lavras and keeps us on track to submit our Preliminary Licence permit application before the end of year,” commented Federico Velásquez, President and Chief Executive Officer. “The inclusion of Caneleira reflects the significant potential we see in this nearby target and its ability to contribute to the next phase of the Fazenda-Butia Development Project.”

“The consolidation of Caneleira into a single, larger target is the direct outcome of the specialist workshop and of the interpretation work that followed,” added Jonathan Hill, Director and Interim Vice President of Exploration. “What were treated as separate occurrences - Caneleira Central, Caneleira East and the ground to the west and north - are now understood as parts of one hydrothermal system with a much larger footprint than we were drilling into.”

The Preliminary License application, encompassing Fazenda-Butia and Caneleira, is scheduled for submission by December 2026. Lavras Gold expects to release a consolidated mineral resource update for the Lavras do Sul Project by the end of Q1 2027, incorporating the upcoming drill results.

Read the full announcement: Lavras Gold Approves Accelerated Drill Program on Expanded Caneleira Target; and Announces Completion of EIA Field Studies, Ahead of Preliminary License Permit Application