Lavras Gold Corp press release

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

2026-08-24

TSXV - TSX Venture Exchange · Gold · Silver · Copper · Canada · Drill Results

Hole 26CN044 returns 24.30 g/t gold over a drilled width of 9 metres; hole 26CN051 returns 9.31 g/t gold over a drilled width of 4 metres from 10 metres, including 17.29 g/t gold over 2 metres; Caneleira East drilling confirms mineralization up-dip with 2.51 g/t gold over a drilled width of 22 metres*

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Shallow drilling has provided further evidence near-surface continuity of the high-grade, northwest-southeast trending vein system at Caneleira - the primary objective of the infill program (see news release dated May 19, 2026), when the highest-grade intercepts reported to date sat more than 100 metres below surface.

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At Caneleira East (previously referred to by the Company as the Olaria gold discovery), located approximately 3.1 kilometres northeast of the Butia Gold Deposit, new drilling has intersected gold mineralization up-dip and closer to surface than the discovery intercept, advancing the follow-up work identified in the Company's December 2, 2024 news release.

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The highest-grade intersection reported to date at Caneleira was observed from this batch of assays include:

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Hole 26CN044 intercepted 24.30 grams per tonne ("g/t") gold ("Au") over a drilled width of 9 metres ("m")from 87m, including 99.56 g/t Au over a drilled width of 0.85mfrom 92.73m.

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Significant near-surface intersections at Caneleira include:

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Hole 26CN051 intercepted 9.31 g/tAu over a drilled width of 4mfrom 10m, including 17.29 g/t Au over a drilled width of 2mfrom 11m;

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Hole 26CN040 intercepted 6.94 g/t Au over a drilled width of 1mfrom 14m, and 4.63 g/t Au over a drilled width of 15.46mfrom 71m, including 21.80 g/t Au over a drilled width of 3mfrom 75m; and

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Hole 26CN047 intercepted 6.71 g/t Au over a drilled width of 1mfrom 25m and 6.18 g/t Au over a drilled width of 1mfrom 51m.

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Significant intersections at Caneleira East include:

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Hole 26CNO022 intercepted 2.51 g/t Au over a drilled width of 22mfrom 78m, including 20.08 g/t Au over a drilled width of 1mfrom 85m;

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Hole 26CNO024 intercepted 1.87 g/t Au over a drilled width of 18mfrom 49m, including 6.39 g/t Au over a drilled width of 4mfrom 63m, and including 12.15 g/t Au over a drilled width of 1mfrom 66m; and

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Hole 26CNO021 intercepted 3.10 g/t Au over a drilled width of 13mfrom 51m, including 21.46 g/t Au over a drilled width of 1mfrom 61m.

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The Company also discloses, for the first time on a hole-by-hole basis, results from 15 Caneleira East holes drilled during 2024 and 2025, which corroborate the near-surface continuity mentioned above - including 1.48 g/t Au over a drilled width of 10m from surface in hole 25CNO011, and 2.39 g/t Au over a drilled width of 6m from 27m in hole 25CNO015.

_*Drilled width, true width not known._

Toronto, Ontario--(Newsfile Corp. - August 24, 2026) - Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) ("Lavras Gold" or the "Company") is pleased to announce final drill results from its 2026 exploration campaign on the Caneleira Mining Concession, within the Lavras do Sul Project ("LDS Project" or the "Project") in southern Brazil. The campaign, completed in June 2026, tested both the Caneleira target and the Caneleira East gold discovery located to the northeast.

This news release reports assay results for 23 diamond drill holes (or 2,595.17m ) at Caneleira (holes 26CN029 to 26CN051), and for 5 diamond drill holes (or 846.87m) at Caneleira East (holes 26CNO021 to 26CNO025) (see Table 1). Assay results for the final 6 holes (or 524.77m) of the campaign remain pending (26CN052 to 26CN057).

In addition, and in advance of resource work on the Caneleira Mining Concession, the Company is disclosing individual assay results for 15 Caneleira East holes completed during 2024 and 2025 that had not previously been reported on a hole-by-hole basis. These holes form part of the 3,985m in 16 holes drilled at Caneleira East during 2025 as disclosed in the Company's 2025 annual management's discussion ("MD&A") and analysis (filed on SEDAR+ on March 10, 2026 and reported in the MD&A as Olaria). Results are set out in Table 4 and discussed under "Caneleira East - Consolidated Disclosure of 2024-2025 Drilling" below.

The defining outcome of this campaign is the confirmation of high-grade gold mineralization at shallow depths across both targets. When the Company announced its infill drill program on May 19, 2026, the high-grade intercepts reported to date at Caneleira sat more than 100 metres below surface, and the stated objective of that program was to confirm whether this mineralization projected to surface. Hole 26CN051, which returned 9.31 g/t Au over a drilled width of 4m from 10m downhole, answered this question. At Caneleira East, the 2024 discovery release identified testing for continuity of mineralization up-dip and closer to surface as a priority next step (see news release dated December 2, 2024); holes 26CNO021, 26CNO022 and 26CNO024 have now intersected significant mineralization between approximately 49m and 100m downhole, well above the 152m depth of the 56m discovery intercept in hole 24CNO-002.

"The significance of the latest drilling is that we are now seeing high-grade mineralization at much shallower depths at Caneleira, together with additional up-dip mineralization at Caneleira East," commented Jonathan Hill, Interim Vice President of Exploration, Lavras Gold."These results improve our geological understanding of both targets and support advancing them toward resource-definition work. Their proximity to Fazenda-Butia also makes them relevant to future project-level studies, subject to establishing mineral resources and completing the appropriate technical and economic evaluation.

_"Today's results are another strong step forward for Lavras. They sharpen the district-scale case that sits alongside our flagship Fazenda-Butia development, which is the first phase of the LDS project. Advancing Fazenda-Butia through permitting remains our core focus," _added Federico Velásquez, President and Chief Executive Officer of Lavras Gold._"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. The Caneleira and Caneleira East targets give us a credible second and third source of gold inventory to feed our future plant; and we intend to move both targets toward resource definition in one global resource model."_

Table 1.Best intersections from 2026 drilling; includes 23 diamond drill holes at Caneleira and 5 diamond drill holes at Caneleira East performed by Lavras Gold

| Drill Hole | | From (m) | To (m) | Interval (m) | Grade (g/t Au) | | 26CN051 | | 10.00 | 14.00 | 4.00 | 9.310 | | | Including | 11.00 | 13.00 | 2.00 | 17.290 | | 26CN040 | | 14.00 | 15.00 | 1.00 | 6.940 | | | | 71.00 | 86.46 | 15.46 | 4.632 | | | Including | 75.00 | 78.00 | 3.00 | 21.800 | | 26CN047 | | 25.00 | 26.00 | 1.00 | 6.710 | | | | 51.00 | 52.00 | 1.00 | 6.180 | | 26CN037 | | 36.00 | 37.00 | 1.00 | 8.150 | | 26CN044 | | 87.00 | 96.00 | 9.00 | 24.300 | | | Including | 92.73 | 93.58 | 0.85 | 99.560 | | 26CNO021 | | 51.00 | 64.00 | 13.00 | 3.100 | | | Including | 61.00 | 62.00 | 1.00 | 21.460 | | 26CNO022 | | 78.00 | 100.00 | 22.00 | 2.510 | | | Including | 85.00 | 86.00 | 1.00 | 20.080 | | 26CNO024 | | 49.00 | 67.00 | 18.00 | 1.870 | | | Including | 63.00 | 67.00 | 4.00 | 6.390 | | | Including | 66.00 | 67.00 | 1.00 | 12.150 |

Intervals represent drilled width; true widths have not been determined at this time. Assumes 0.25 g/t gold cut-off grade, no top cut. In hole 26CN044 the two contiguous assayed sub-intervals 92.73-93.10m (151.50 g/t Au) and 93.10-93.58m (59.53 g/t Au) are reported here as a single weighted composite of 99.56 g/t Au over 0.85m; both are tabulated individually in Table 2.

[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_001full.jpg)

Figure 1 -Target location map showing Fazenda-Butia, Caneleira, Caneleira West Matilde and Cerrito within the Lavras do Sul Project, with gold-in-soil anomalism highlighted.

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[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_002full.jpg)

Figure 2 - Location map showing the main Lavras Gold Project deposits, exploration targets and the proposed Industrial Plant Area.

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Caneleira Target

Gold mineralization at Caneleira is hosted in NNE-oriented cataclastic zones with strong hydrothermal alteration, quartz veining and sulfide mineralization, locally associated with visible gold, and by the northwest-southeast trending, higher-grade vein system first reported in May 2026, associated with magnesium-rich sphalerite and coarse visible gold within the hanging wall of lamprophyre dykes. Mineralization remains open both along strike and at depth.

The near-surface results are the most significant outcome of recent drilling. Hole 26CN051 returned 9.31 g/t Au over a drilled width of 4m from 10m, including 17.29 g/t Au over 2m from 11m. This is supported by high-grade intercepts at shallow depths in several other holes, including 6.94 g/t Au over 1m from 14m in hole 26CN040, 6.71 g/t Au over 1m from 25m and 6.18 g/t Au over 1m from 51m in hole 26CN047, 8.15 g/t Au over 1m from 36m in hole 26CN037, and 3.18 g/t Au over 1m from 2m in hole 26CN030. Taken together, these intercepts provide evidence that the high-grade vein system extends to substantially shallower depths than previously demonstrated and support the Company's interpretation of continuity between the shallow and deeper portions of the system. The extent and true width of the mineralized structures remain subject to further drilling and geological interpretation.

This release also closes out hole 26CN032, illustrated in Figure 5 of the May 19, 2026 release as a shallow sulphide-mineralized intercept with assays pending. The hole has returned 0.74 g/t Au over 4m from 7m, 1.23 g/t Au over 2m from 40m, 3.02 g/t Au over 1m from 59m and 1.42 g/t Au over 1m from 70m, confirming that the shallow zones logged at the time do represent near-surface expressions of the deeper high-grade structures.

At depth, hole 26CN044 returned the highest-grade interval reported to date at Caneleira, with 24.30 g/t Au over a drilled width of 9m from 87m, including 99.56 g/t Au over a drilled width of 0.85m from 92.73m. Hole 26CN040 returned a broader intercept of 4.63 g/t Au over a drilled width of 15.46m from 71m, including 21.80 g/t Au over 3m, reinforcing the lateral and vertical continuity of the mineralized corridor.

Of the 23 Caneleira holes reported in this release, 22 returned intersections above the Company's 0.25 g/t Au disclosure threshold and one hole (26CN036) did not return a significant result. Assay results remain pending for the final 6 holes of the campaign (26CN052 to 26CN057).

[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_003full.jpg)

Figure 3 -Plan view of the Caneleira target showing new and previously reported drill hole traces, the mineralized envelope and the NW-SE vein trend over TMI magnetics.

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[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_004full.jpg)

Figure 4.1 -Section showing the near-surface high-grade intercepts (26CN051, 26CN040, 26CN047) projected against the deeper intercepts in 25CN016, 26CN019 and 26CN044.

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[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_005full.jpg)

Figure 4.2 -Section showing the near-surface high-grade intercepts (26CN041, 26CN047, 26CN048) projected against the deeper intercepts in 26CN026.

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[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_006full.jpg)

Figure 5 -Section showing the near-surface high-grade intercepts (26CN051, 26CN040, 26CN047) projected against the deeper intercepts in 25CN016, 26CN019 and 26CN044.

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[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_007full.jpg)

Figure 6 -Drill core from holes 26CN044 and 26CN040, showing the high grade mineralization styles.

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[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_008full.jpg)

Figure 7 -Drill core from hole 26CN051, interval ~11-13 m, showing the style of near-surface mineralization.

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Core logging supported by a hydrothermal alteration study completed in August 2026 has defined a consistent alteration zoning at Caneleira that is being used as a vector towards the higher-grade zones. Three alteration types are recognized in the host monzogranite, each developed in both fissural and pervasive styles and increasing in intensity towards mineralization: a distal zone of K-feldspar (hematite-stained microcline) enriched, desilicified monzogranite; an intermediate zone in which that assemblage has been overprinted by silicification; and a proximal zone where chlorite, with subordinate white mica, is superimposed on the silicified rock. The proximal zone carries the highest gold grades. The sequence is interpreted to record potassium metasomatism accompanied by quartz leaching, which generated dilational space for the deposition of gold-bearing pyrite, followed by re-precipitation of silica as the mineralizing fluid evolved; early desilicification followed by silicification also accounts for the breccia-style textures locally developed in the most intensely altered zones. The same zoning is developed at Fazenda-Butia and Matilde, with two distinctions at Caneleira: chlorite dominates over white mica in the proximal zone, and the sodium-enriched alteration stage recognized at Fazenda-Butia has not been observed.

[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_009full.jpg)

Figure 8- Hydrothermal alteration sequence at Caneleira, from fresh monzogranite (left) through K-feldspar enriched monzogranite (Type 1, distal), K-feldspar enriched silicified monzogranite (Type 2, intermediate) and chlorite ± white mica silicified monzogranite (Type 3, proximal), each shown in fissural and pervasive styles. Alteration intensity increases to the right, towards the highest gold grades.

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Caneleira East Target

Caneleira East was announced under the name Olaria as a new discovery on December 2, 2024, when hole 24CNO-002 returned 56m of continuous gold mineralization grading 0.97 g/t Au from 152m downhole - approximately 134m vertical - including 4.53 g/t Au over 4m and 9.16 g/t Au over 1m. The target is located approximately 3.1 kilometres northeast of the Butia Gold Deposit, within the Caneleira Mining Concession, and is interpreted as a structurally controlled cataclastic gold system associated with northeast-southwest trending structures.

Caneleira East - 2026 Drilling

The five holes completed at Caneleira East in 2026 delivered on the December 2024 objective of testing for continuity of gold mineralization up-dip, closer to surface (see news release dated December 2, 2024) as seen by:

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Hole 26CNO022 returned 2.51 g/t Au over a drilled width of 22mfrom 78m, including 20.08 g/t Au over 1m from 85m;

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Hole 26CNO024, the northeastern-most hole of the group, returned 1.87 g/t Au over a drilled width of 18m from 49m, including 6.39 g/t Au over 4m from 63m and 12.15 g/t Au over 1m from 66m

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Hole 26CNO021 returned 3.10 g/t Au over a drilled width of 13mfrom 51m, including 21.46 g/t Au over 1m from 61m; and

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Holes 26CNO023 and 26CNO025 returned broader, lower-grade intervals of 0.40 g/t Au over 9m and 0.51 g/t Au over 8.39m respectively.

All five of the 2026 holes intersected gold mineralization. The mineralized intervals in holes 26CNO021, 26CNO022 and 26CNO024 sit between approximately 49m and 100m downhole, substantially shallower than the 152m to 208m discovery interval in hole 24CNO-002, and at grades comparable to or above that intercept. Together with the 2026 results, drilling has now intersected gold mineralization at Caneleira East at depths ranging from surface to approximately 400 metres downhole. These results support the Company's interpretation of a vertically extensive mineralized system, which remains open and subject to further drilling and geological interpretation.

Caneleira East - Consolidated Disclosure of 2024-2025 Drilling

In parallel with reporting the 2026 results above, and in advance of resource work on the Caneleira Mining Concession, the Company is disclosing individual assay results for the Caneleira East holes completed during 2024 and 2025 that had not previously been reported on a hole-by-hole basis. As disclosed in the Company's 2025 annual MD&A, drilling on the Caneleira Mining Concession during 2025 totaled 7,113m in 27 holes, of which Caneleira East accounted for 3,985m in 16 holes - the largest single allocation of drilling on the concession that year. Results for 15 such holes are tabulated in Table 4.

These holes were drilled as step-outs along strike to the northeast and southwest of the discovery and as up-dip tests, and are generally characterized by broad, moderate-grade cataclastic mineralization with discrete higher-grade intervals. The results are consistent with, and support, the 2026 drilling reported above. Notable intercepts include:

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Hole 25CNO011 intercepted 1.48 g/t Au over a drilled width of 10m from surface, and 0.33 g/t Au over a drilled width of 14m from 27m;

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Hole 25CNO015 intercepted 2.39 g/t Au over a drilled width of 6mfrom 27m, including 4.32 g/t Au over a drilled width of 2mfrom 30m;

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Hole 25CNO020 intercepted 11.00 g/t Au over a drilled width of 1mfrom 26m;

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Hole 25CNO008 intercepted 2.60 g/t Au over a drilled width of 3mfrom 58m; and

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Hole 25CNO014 intercepted 0.79 g/t Au over a drilled width of 18mfrom 380m, including 11.00 g/t Au over a drilled width of 1mfrom 389m, extending the system to depth.

The shallow intercepts in holes 25CNO011, 25CNO015 and 25CNO020 - all within 33m of surface - corroborate the up-dip continuity demonstrated by the 2026 drilling, while hole 25CNO014 confirms the system persists to at least 390m downhole. Together with the 2026 results, drilling now defines gold mineralization at Caneleira East from surface to approximately 400m depth.

[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_010full.jpg)

Figure 9 -Plan view of Caneleira East showing all drill collars: the 2024 discovery holes (24CNO-001, 24CNO-002, 24CNO-007, LDH-105), the 2024-2025 holes now disclosed, and the 2026 holes 26CNO021 to 26CNO025.

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[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_011full.jpg)

Figure 10 -Section through Caneleira East showing up-dip continuity from the 24CNO-002 discovery intercept to the near-surface intercepts in 25CNO011, 25CNO015 and 26CNO021/022/024.

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[](https://images.newsfilecorp.com/files/10429/310974_b1aae0bdb49018c9_012full.jpg)