Rapid Resource Growth and 2025 PFS Positions Bravo Mining to Capitalize

• Tier one deposit with large-scale production potential - 10M tonnes per year, low costs from open pit mine in low-cost Brazil
• Addressing impending PGM supply deficit as South African production declines
• Optionality from high-grade massive sulfide nickel discovery on property and potential low-cost oxide material production

About Bravo Mining

Bravo Mining is a Canadian and Brazil-based mineral exploration and development company. The company is focused on advancing its Luanga PGM+Au+Ni Project, which is located in the Carajás Mineral Province of Brazil, a region known for its mineral wealth.

The Luanga Project is situated close to operating mines and benefits from excellent infrastructure access, including proximity to roads, rail, and hydro grid power. Bravo Mining is currently undertaking a fully-funded 63,000 meter drilling campaign at Luanga to support infill, step out, and broader exploration efforts.

As part of its Environmental, Social and Governance (ESG) efforts, Bravo Mining engages in activities such as replanting trees in the project area, hiring and contracting with local businesses and workers, and utilizing responsible practices to protect the environment throughout its exploration work. By partnering with surrounding communities and minimizing ecological impacts, the company aims to advance the Luanga Project responsibly.

Interview with Chairman & CEO, Luis Azevedo

Maiden Mineral Resource Estimate

Bravo Mining recently announced its maiden mineral resource estimate. This included an Indicated resource of 4.1Moz of Palladium equivalent (PdEq) and 5.7Moz PdEQ Inferred at the Luanga project. The estimate also includes 89,500 tonnes of nickel in sulphides in the Indicated category and 104,600 tonnes Inferred. The resource update came from 45,000m of drilling, expanding the deposit at depth. Management believes the deposit's scale, mining costs and infrastructure position it in the lowest quartile of potential global PGM projects.

Impending PGM Supply Deficit Provides Opportunity

PGM supply is concentrated in South Africa and Russia, both facing production challenges. Aging South African mines are closing as the country faces power constraints. Azevedo sees prices rising to support higher-cost production, stating: "The price cannot support at the situation today." Meanwhile, auto demand is only slowly transitioning from internal combustion engines to electric vehicles, notably among heavier vehicles. Azevedo sees hybrid vehicle growth requiring substantial PGMs.

Focus on Scale, Low Costs, Optionality

Bravo is focused on leveraging its deposit's scale, low mining costs, existing infrastructure and location in low-cost Brazil. The project requires only $4M grid power connection for its needs, and the company has completed extensive metallurgical test work de-risking potential recoveries. The existing open pit project has apparent potential for low-cost production at scale. Additional upside comes from high-grade nickel mineralization and potential low-cost oxide gold production from surface trenching work.

Key Implications

For investors, Bravo offers a combination of commodity leverage to an impending PGM supply deficit along with low-cost production potential. The company has executed exceptionally well since its IPO, expanding resources and its production timeline ambition. Its location, existing infrastructure, scale and mine plan position it in the lowest global quartile by costs. Hence it can generate solid margins even if metal prices decline from current levels. Additional nickel and oxide optionality provide further upside potential. Execution risks remain in permitting and project financing, but management has a proven track record in Brazil.

Bravo Mining's Luanga PGM, gold & nickel project provides investors with commodity leverage and low-cost production upside. The company is progressing rapidly to capitalize on market dynamics.