Bravo Mining Announces C$84.75 Million Financing Package for Luanga Project Development

• Bravo Mining Corp. has entered into a C$50 million bought deal at C$4.40 per share, led by BMO Capital Markets and National Bank Capital Markets, expected to close January 20, 2026.
• Concurrent C$34.75 million private placement with Orion Mine Finance Management at the same price, subject to TSX Venture Exchange approval and completion of the bought deal.
• Orion will receive participation rights in future equity offerings and right to match project financing proposals, with indicative commitment to provide up to US$300 million in future financing support subject to milestone achievement.
• Proceeds will fund preliminary feasibility study completion, subsequent feasibility study work, resource expansion drilling, and exploration of iron oxide copper gold and nickel-platinum group metals mineralisation.
• Underwriters granted 30-day over-allotment option to purchase an additional 15% of the offering.

Bravo Mining Corp. (TSXV:BRVO, OTCQX:BRVMF) is a Canadian and Brazil-based mineral exploration and development company focused on its Luanga Project in the Carajás Mineral Province, Para State, Brazil. The Luanga Project contains platinum group metals, gold, nickel, and copper-gold deposits. The company's team comprises local and international geologists with experience in platinum group metals, nickel, and copper discoveries in the region, including advancing a prior iron oxide copper gold project from discovery to production in Carajás. The project is located on freehold farming land near operating mines, with access to infrastructure including roads, rail, and hydroelectric power.

Bought Deal Equity Financing Structure and Terms

Bravo Mining has entered into an agreement with underwriters led by BMO Capital Markets and National Bank Capital Markets to purchase 11,365,000 common shares at C$4.40 per share for gross proceeds of C$50 million. In a bought deal structure, underwriters commit to purchasing all shares at a fixed price, then resell them to investors. The underwriters assume the placement risk in exchange for an underwriting fee.

The underwriters have been granted an over-allotment option exercisable for 30 days following closing. This option permits purchase of up to an additional 15% of the offering to cover over-allotments. If fully exercised, the option would result in the sale of an additional 1,704,750 shares for gross proceeds of C$7.5 million, increasing total proceeds to C$57.5 million.

The offering is being conducted under the company's short form base shelf prospectus dated December 22, 2025. A prospectus supplement will be filed within two business days of the announcement. The offering is expected to close on or about January 20, 2026, subject to customary closing conditions including TSX Venture Exchange approval.

Concurrent Private Placement with Orion Mine Finance

Bravo has entered into a non-binding indicative term sheet with Orion Mine Finance Management for the subscription of 7,897,727 common shares at C$4.40 per share for gross proceeds of C$34,750,000. The private placement will be completed on a non-brokered basis. This transaction is subject to completion of the bought deal offering and TSX Venture Exchange approval, though the bought deal is not contingent on the private placement.

In connection with the private placement, the company anticipates entering into a participation rights agreement with Orion. The agreement would provide Orion with the right to participate pro rata in future equity offerings and a right to match any offer to provide project financing, acquisition financing, or production-linked financing to the company.

Subject to satisfaction of mutually agreed milestones, conditions precedent, and customary conditions, Orion intends to commit up to US$300 million of financing support. The financing would be provided through equity, debt, and other instruments, with Orion providing an indicative non-binding term sheet proposal upon notice of milestone achievement. The commitment remains non-binding at this stage.

Use of Proceeds for Feasibility Studies and Resource Expansion

The net proceeds from both financings will be used to advance the Luanga Project through completion of a preliminary feasibility study. A preliminary feasibility study is a comprehensive technical and economic assessment that evaluates mining methods, processing, infrastructure, capital costs, operating costs, and project economics. If results warrant, the company will proceed to complete a feasibility study.

The company will use proceeds to expand mineral resources at the Luanga Project through drilling programmes. Exploration will continue for iron oxide copper gold style mineralisation and nickel-platinum group metals rich massive sulphides within the Luanga property. Resource expansion aims to increase the project's mineral inventory through systematic drilling and geological evaluation.

The balance of proceeds will support general working capital purposes. This includes ongoing operational expenses, corporate costs, and maintaining liquidity for general business requirements as the company advances the Luanga Project through its development phases.

Next Steps and Timeline

Both transactions are expected to close on or about January 20, 2026, subject to receipt of TSX Venture Exchange approval and satisfaction of customary closing conditions. The company will file a prospectus supplement under its existing base shelf prospectus to complete the bought deal offering. Following closing, the company will deploy capital toward preliminary feasibility study completion, resource expansion drilling, and continued exploration activities at the Luanga Project.

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