Bravo Mining Increases Equity Financing to C$109.75 Million

• Bought deal offering increased from C$50 million to C$75 million, pricing 17,050,000 common shares at C$4.40 per share
• Concurrent C$34.75 million private placement with Orion Mine Finance for 7,897,727 common shares at the same price
• US$300 million indicative financing support framework with Orion, subject to milestones and conditions
• Proceeds to fund preliminary and feasibility studies for the Luanga PGM+Au+Ni Project and resource expansion
• Expected closing date of January 20, 2026, subject to regulatory approvals

Bravo Mining Corp. (TSXV: BRVO, OTCQX: BRVMF) is a mineral exploration and development company focused on advancing the Luanga Project in the Carajás Mineral Province of Para State, Brazil. The project contains platinum group metals, gold, nickel and copper mineralisation. The company's exploration team consists of local and international geologists with experience in platinum group metals, nickel and copper discoveries in the region, including taking a previous iron oxide copper gold project from discovery to production in Carajás. The Luanga Project is located on freehold farming land near operating mines, with access to road, rail and hydroelectric power infrastructure. The company's activities include environmental and social initiatives such as planting over 50,000 trees and local hiring practices.

Upsized C$75 Million Bought Deal Equity Financing

Bravo Mining has increased its previously announced public offering from C$50 million to C$75 million. The company will issue 17,050,000 common shares at C$4.40 per share through underwriters led by BMO Capital Markets and National Bank Capital Markets. The offering includes an over-allotment option allowing underwriters to purchase an additional 15 percent of the shares within 30 days following closure.

If the underwriters exercise the full over-allotment option, total gross proceeds from the public offering would reach approximately C$86.25 million. The company has filed a prospectus supplement to its short form base shelf prospectus dated December 22, 2025. The prospectus documents are accessible through SEDAR+ and can be obtained from the underwriters.

The common shares will be offered in all provinces of Canada except Quebec. The shares have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption. The offering is expected to close on or about January 20, 2026, subject to customary closing conditions and TSX Venture Exchange approval.

C$34.75 Million Concurrent Private Placement with Orion Mine Finance

Orion Mine Finance Management LLP, through a fund it manages or a designated affiliate, will subscribe for 7,897,727 common shares at C$4.40 per share for gross proceeds of C$34.75 million. The private placement will be conducted on a non-brokered basis. The transaction is subject to customary conditions including completion of the public offering and TSX Venture Exchange approval. The public offering is not contingent upon completion of the private placement.

The company anticipates entering into a participation rights agreement with Orion. Under this agreement, Orion will have 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. These provisions establish an ongoing relationship between Bravo and Orion as the project advances.

Subject to mutually agreed milestones and customary conditions, Orion intends to commit to provide up to US$300 million of financing support in the form of equity, debt and other financing instruments. The company will receive an indicative non-binding term sheet proposal promptly upon notice that specified milestones have been met. This arrangement provides a potential future financing pathway as the Luanga Project progresses through development stages.

US$300 Million Indicative Financing Support Framework Terms

Bravo Mining has entered into a non-binding indicative term sheet with Orion Mine Finance outlining potential financing support of up to US$300 million. The framework contemplates a combination of equity, debt and other financing instruments. Orion will provide a non-binding term sheet proposal promptly upon notice that mutually agreed milestones have been met.

The financing support is subject to satisfaction of milestones, conditions precedent and customary closing requirements. The specific terms and structure of any financing will be determined based on project requirements at the time the milestones are achieved. The arrangement is indicative and non-binding at this stage.

The term sheet establishes a potential financing relationship between Bravo and Orion as the Luanga Project advances. The US$300 million quantum represents the upper limit of potential financing support under the framework. Actual financing provided, if any, will depend on project developments, completion of technical studies, and satisfaction of conditions specified in any future binding agreements.

Looking Ahead

The combined proceeds from the public offering and private placement will be allocated to several areas. The company plans to advance the Luanga PGM+Au+Ni Project through completion of a preliminary feasibility study and, if results support it, a feasibility study. Funds will also be used to expand mineral resources at the Luanga Project and continue exploration of iron oxide copper gold mineralisation and nickel-platinum group metal-rich massive sulphides within the property. A portion will be allocated to general working capital purposes.

The offering is scheduled to close on or about January 20, 2026, subject to receipt of all necessary approvals from the TSX Venture Exchange and satisfaction of customary closing conditions. Following closure, the company will commence its technical programme using the proceeds as outlined in the offering documents.

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