Bravo Mining Designated Anchor Company for Brazil's Barcarena Export Processing Zone

• Brazil's National Council of Export Processing Zones approved creation of Barcarena ZPE, designating Bravo Metals (wholly owned subsidiary) as anchor company for potential downstream smelter facility.
• First mineral project selected as ZPE anchor since Brazil established Export Processing Zone programme in 1988.
• ZPE provides suspension of import taxes and other levies for up to 20 years, plus exemption from import and export licensing requirements.
• Location adjacent to Port of Vila do Conde, 590 kilometres from Luanga Project, with proximity to fertiliser industries that could purchase sulphuric acid by-products.
• Supports Alternate Case scenario from July 2025 Preliminary Economic Assessment evaluating downstream pyrometallurgical processing in Brazil.

Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF) is a mineral development company advancing the Luanga palladium, platinum, rhodium, gold and nickel deposit in the Carajás Mineral Province, Pará State, Brazil. The company's team includes geologists and engineers with experience taking an iron oxide copper gold project from discovery to production in Carajás. The Luanga Project is located near operating mines with access to road, rail, port and hydroelectric grid infrastructure.

Approval of Barcarena Export Processing Zone with Bravo as Anchor Company

Brazil's National Council of Export Processing Zones approved the Barcarena ZPE on 5 November 2025, designating Bravo Metals as anchor company for potential installation of a downstream smelter facility to process Luanga deposit concentrates. The initiative was led by Pará State Government through its Secretariat of Economic Development, Mining and Energy, in partnership with Bravo and coordinated with Brazil's Ministry of Mines and Energy and other agencies.

This represents the first mineral project selected as ZPE anchor since Brazil launched its Export Processing Zone programme in 1988.

Chairman and CEO Luís Azevedo stated,

"This initiative aligns perfectly with Brazil's strategy to foster a sustainable and secure supply of critical minerals that includes downstream processing, while promoting regional industrialisation, job creation, and the development of a technological base for mineral processing in one of the country's most prolific mining regions."

Export Processing Zones are designated areas for companies focused on production of goods and services for export, providing preferential tax, customs and foreign exchange regimes to enhance competitiveness in global markets.

Strategic Support for Luanga Project Vertical Integration and Downstream Smelter Facility Development

The Barcarena ZPE supports the Alternate Case scenario from the Luanga Project Preliminary Economic Assessment published on 7 July 2025, which evaluated downstream processing and refining in Brazil rather than exporting concentrates. Under this configuration, flotation concentrates would undergo sulphur removal processes followed by pyrometallurgical treatment, with production of sulphuric acid as a by-product.

The Barcarena industrial corridor hosts fertiliser and chemical producers that currently rely on imported sulphuric acid. The acid generated from Bravo's integrated process could be sold to these local industries, creating a potential revenue stream beyond primary metal sales.

The company has signed a letter of intent with Casa dos Ventos, an associate of TotalEnergies, to secure renewable electrical energy supply for the downstream facility from sources within Pará State. The Luanga Project would source 100% of its electrical energy from renewable power.

Export Processing Zone Tax Incentives and Industrial Infrastructure Benefits

The Barcarena ZPE provides suspension of Import Tax, Federal Maritime Tax, Tax on Industrialized Products, and social contribution taxes on imported products and equipment, plus suspension of taxes on domestic purchases. Companies receive exemption from import and export licensing requirements. These benefits are granted for up to 20 years.

The suspension of import duties and related taxes on machinery, equipment and raw materials reduces both capital expenditure during construction and operating expenses. The fiscal framework applies to imported goods and certain domestic purchases.

The Barcarena ZPE is adjacent to the Port of Vila do Conde, a deep-water port with maritime access to international markets and road connections to the Carajás Mineral Province (approximately 590 kilometres from Barcarena). The area includes industrial operations for alumina, fertilisers, fuels and metallurgical products, with grid access to renewable energy supply.

Conclusion

The Barcarena ZPE approval provides Bravo Mining with the framework to potentially establish downstream processing facilities for Luanga Project concentrates. The company will complete pre-feasibility and feasibility studies to evaluate whether the Alternate Case scenario, including domestic processing within the ZPE, is supported by detailed engineering and economic analysis compared to the base case of concentrate exports.