Bravo Mining Receives CZPE Authorization to Establish Processing Operations in Barcarena

• Brazil's National Council for Export Processing Zones (CZPE) authorized Bravo Metals Ltda, a wholly owned subsidiary of Bravo Mining Corp., to establish itself and manufacture nickel-platinum group metal (Ni-PGM) mattes and alloys within the Barcarena Export Processing Zone (Barcarena ZPE)
• The authorization was approved on August 25, 2026, and formally published in Brazil's Official Gazette through Resolution CZPE/MDIC No. 128
• The Resolution secures a 20-year ZPE tax, foreign exchange and administrative regime, including suspension of certain federal and domestic taxes on equipment, inputs and other products
• The milestone follows the November 2025 approval of Bravo Metals as the ZPE's anchor industrial project and the January 2026 Presidential Decree formally creating the Barcarena ZPE
• The development is relevant to Bravo's ongoing evaluation of downstream processing and vertical integration for its Luanga Project, alongside the Pre-Feasibility Study (PFS) targeted for completion by the end of the third quarter of 2026

Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF) is a Canada and Brazil-based mineral exploration and development company advancing its Luanga Project, a platinum group metals, gold and nickel deposit in the Carajás Mineral Province of Pará State, Brazil. The company also explores for copper-gold and nickel-copper style mineralization within the same land package. Its technical team has previously guided a discovery in the region through to development and production and has identified other significant deposit types nearby. The Luanga Project is located near operating mines and established infrastructure, including road, rail and hydroelectric grid power access, and the company has planted more than 56,000 trees as part of its environmental programme.

CZPE Authorization for Bravo Metals to Establish Ni-PGM Processing Operations Within Barcarena Export Processing Zone

Bravo Metals Ltda has received formal authorization from Brazil's CZPE to establish itself within the Barcarena ZPE and manufacture Ni-PGM mattes and alloys, comprising platinum, palladium, rhodium, nickel, copper and cobalt. The approval was granted on August 25, 2026, during the CZPE's XLII Ordinary Meeting under Brazil's Ministry of Development, Industry, Commerce and Services, and became effective once published in the Official Gazette on September 1, 2026, through Resolution CZPE/MDIC No. 128.

This step follows two earlier milestones. In November 2025, the CZPE approved the creation of the Barcarena ZPE and named Bravo Metals' industrial project as its anchor, on condition that Bravo Metals later apply separately for authorization to establish itself once formally constituted. That condition was addressed in January 2026, when Brazil's president signed the decree formally creating the zone. The latest approval completes this sequence, authorizing Bravo Metals to establish and operate within the zone under its previously approved industrial project.

The authorization relates specifically to Bravo Metals' establishment and approved activities within the Barcarena ZPE regime and is separate from environmental licences and other permits required for construction and operation of any proposed facilities. Bravo's Luanga Project remains the only minerals and metals project approved as an anchor industrial project within a Brazilian export processing zone.

20-Year ZPE Tax and Administrative Regime Providing Significant Fiscal Benefits for Downstream Processing Strategy

Alongside the operational authorization, the Resolution secures the ZPE's tax, foreign exchange and administrative regime for Bravo Metals for a period of 20 years, subject to compliance with applicable legislation and regulations. An export processing zone is a designated industrial area where governments apply reduced taxes and simplified customs procedures to encourage manufacturing intended for export, and Brazil has established the Barcarena ZPE for this purpose in relation to metals processing.

The benefits include suspension of certain federal taxes on imported equipment, inputs and other products, including Brazil's Import Tax (II), IPI (a federal tax on manufactured goods), and the PIS/PASEP and COFINS social contribution taxes. The regime also provides for suspension of certain taxes on domestic purchases and exemptions from certain import and export licensing and authorization requirements.

Bravo's Luanga Project is currently evaluated on the basis of producing Ni-PGM concentrates, while the PFS is separately assessing the potential for downstream processing and vertical integration within Brazil. The company states that the fiscal regime secured under this authorization strengthens the framework within which that downstream processing opportunity is being assessed.

Barcarena's Port Infrastructure, Renewable Power and Fertilizer Ecosystem Supporting Vertical Integration Evaluation Alongside Q3 2026 PFS Completion

The Barcarena ZPE is located within the Industrial District of Barcarena, adjacent to the Port of Vila do Conde, a deep-water port and one of northern Brazil's principal industrial complexes. The surrounding industrial corridor includes mineral processing, metals, fertilizer and logistics operations, with established bulk solid and liquid handling infrastructure and direct access to international markets.

Barcarena has also developed into a fertilizer production, blending, storage and distribution hub serving northern Brazil and the Arco Norte agricultural corridor. This is relevant to Bravo because any future downstream processing route would produce sulphuric acid, an important input in phosphate fertilizer production, as a by-product of smelting. Brazil remains dependent on imported sulphur and sulphuric acid, and the company notes that Barcarena's fertilizer and chemical industries, port infrastructure and access to the broader northern Brazilian market could provide local and regional market opportunities for this by-product.

This ecosystem forms part of the framework Bravo is evaluating for vertical integration, meaning the potential to carry out more stages of production, from mining through to metal processing, within Brazil rather than exporting concentrate alone. 

Chairman and CEO Luis Azevedo said:

"This milestone is particularly timely as we advance Luanga's Pre-Feasibility Study towards completion, targeted for the end of the third quarter. In addition to producing NI-PGM concentrates, the PFS is evaluating the potential for vertical integration and downstream processing within Brazil, and today's authorization further strengthens the framework within which that opportunity is being assessed." 

He added:

"Barcarena offers a compelling combination of port infrastructure, renewable power and an established industrial ecosystem, including a significant fertilizer production with its attendant demand for sulphuric acid (a byproduct of smelting) and logistics cluster."

Milestones and Next Steps

The CZPE authorization is a separate and subsequent regulatory step following the November 2025 anchor project approval and the January 2026 Presidential Decree creating the Barcarena ZPE. Bravo's Luanga PFS remains targeted for completion by the end of the third quarter of 2026 and will include an assessment of downstream processing and vertical integration alongside the base concentrate production plan. Environmental licensing and other permits for any future Barcarena facility remain separate requirements not yet addressed by this authorization.

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