Credit for this month's covers go to JosÚ Queiroz in Brazil, who was good enough to send me the scans. These are the earliest examples of Brazilian Captain Marvel comics I think I've seen, dating from 1943 and 1950..
(Click on the thumbnails for full-size images).
Cover of the Month, May 1996: Captain Marvel and the Good Humor Man
Cover of the Month, November 1996: Big and Little, Part 1: Mighty Midgets
Cover of the Month, December 1996: Big and Little, Part 2: Gift Comics
Cover of the Month, February 1997: The Boy Who Never Heard of Captain Marvel
Cover of the Month, March 1997: Captain Marvel Adventures Original Art
Cover of the Month, April 1997: The Amazing World of DC Comics