Bravo Mining Designated Anchor Tenant as Brazil Establishes Barcarena Export Processing Zone

• Presidential Decree No. 12,823 published 23 January 2026 establishes the Export Processing Zone of Barcarena covering 271 hectares in Pará State, Brazil.
• Bravo Mining (TSXV: BRVO) designated as first mineral project anchor tenant, with zone offering differentiated tax and customs regime for export activities.
• ZPE framework applies to Bravo's PEA Alternate Case scenario contemplating local processing of platinum group metals and nickel from the Luanga Project.
• Company completed equity financing raising C$81.8 million net proceeds; 4PGE basket prices currently approximately 60% above July 2025 PEA assumptions.
• Zone located in industrial district hosting fertiliser producers; sulphuric acid by-product from potential smelting operations trading at approximately US$440 per tonne versus PEA assumption of US$160 per tonne.

Bravo Mining Corp. (TSXV: BRVO) is a Canada-based mineral exploration and development company advancing the Luanga palladium, platinum, rhodium, gold and nickel project in the Carajás Mineral Province, Pará State, Brazil. The Luanga Project is located on freehold farming land with access to road, rail and hydroelectric grid power infrastructure. The company's management team includes geologists with prior experience in the Carajás region.

Presidential Decree Establishes Regulatory Framework for Industrial Zone

Presidential Decree No. 12,823, signed 22 January 2026 by President Luiz Inácio Lula da Silva, was published 23 January 2026 in the Diário Oficial da União. The decree establishes the Export Processing Zone of Barcarena following approval by Brazil's National Council of Export Processing Zones.

The initiative involved the Government of Pará through its Secretariat of Economic Development, Mining and Energy and the Economic Development Company of Pará, in partnership with Bravo Mining. Additional participants included Brazil's Ministry of Mines and Energy, the Federation of Industries of Pará, the State Secretariat for the Environment of Pará, and the Municipality of Barcarena.

The zone covers 271 hectares within the Industrial District of Barcarena at the Port of Vila do Conde. Under Brazil's Export Processing Zone framework, companies operating in the zone receive differentiated regulatory, tax and customs treatment, including exemptions on imported equipment and supplies.

ZPE Framework and Luanga Project Development Scenarios

The ZPE Barcarena applies to Bravo's Preliminary Economic Assessment Alternate Case scenario, which contemplates local processing and vertical integration of metals from the Luanga Project. The PEA, released July 2025, also includes a Base Case scenario involving concentrate sales.

Luis Azevedo, Chairman and CEO, stated:

"The signing of the Presidential Decree formally creating the ZPE Barcarena is a significant milestone for Bravo and materially advances regulatory certainty around our development scenario. Coming on the heels of the recent closing of our oversubscribed equity financing for net proceeds of ~C$81.8 million, completed amid strong investor demand and an improving PGM price environment, with the 4PGE basket price now approximately 60% higher than the price used in our PEA, this development further reinforces our confidence in the long-term strategic positioning of the Luanga Project."

The zone's location provides access to the Port of Vila do Conde. The framework permits import and re-export of third-party nickel or platinum group metal concentrates. Vertical integration in the platinum group metals sector typically requires access to smelting capacity and processing facilities.

Industrial District Location and Sulphuric Acid Market

The ZPE Barcarena is located in an industrial district that hosts fertiliser and chemical producers. Sulphuric acid is a component in fertiliser production. The PEA Alternate Case includes sulphuric acid as a by-product of smelting operations.

The PEA assumed a sulphuric acid sales credit of US$160 per tonne. Recent market prices have reached approximately US$440 per tonne. According to the news release, some fertiliser producers have temporarily suspended production.

The ZPE creation involved Brazil's Ministry of Mines and Energy, the State of Pará government bodies, and the Municipality of Barcarena. The framework is designed to support export-oriented industrial activities and value-added processing within Brazil.

Project Status and Financing

Bravo completed an equity financing raising net proceeds of approximately C$81.8 million. The 4PGE basket price is currently approximately 60% higher than the pricing assumption used in the July 2025 PEA.

The company's PEA includes two scenarios: a Base Case involving concentrate sales and an Alternate Case contemplating vertical integration using the ZPE framework. Future activities will include engineering studies, environmental permitting and stakeholder engagement. The timing of development decisions will depend on study outcomes, market conditions and financing.

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