AMAPÁ MINERALS ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING

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TORONTO, July 30, 2026 /CNW/ -- Amapá Minerals Holdings Inc. ("Amapá Minerals" or the "Company") announced today that it has completed its initial public offering of 127,272,728 common shares of the Company (the "Common Shares") at a price of $1.10 per Common Share, for gross proceeds of $140,000,000 (the "Offering").

The Common Shares are listed on the Toronto Stock Exchange under the symbol "AMAP".

The Offering was managed by a syndicate of underwriters, including Canaccord Genuity and BMO Capital Markets, as joint lead bookrunners, Banco BTG Pactual S.A. – Cayman Branch as joint bookrunner and Banco Bradesco BBI S.A. as co-manager (collectively, the "Underwriters").

The Company has granted to the Underwriters an over-allotment option (the "Over-Allotment Option") to purchase up to an additional 19,090,909 Common Shares at a price of $1.10 per Common Share for additional gross proceeds of up to $21,000,000 if the Over-Allotment Option is exercised in full. The Over-Allotment Option can be exercised, in whole or in part, in the sole discretion of the Underwriters, for a period of 30 days from the closing date of the Offering.

The Offering was completed pursuant to the Company's supplemented PREP prospectus dated July 23, 2026 (the "Prospectus"), filed with the securities regulators in each of the provinces and territories of Canada, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.

The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any other U.S. federal or state securities laws, and may not be offered, sold, pledged or otherwise transferred in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy Common Shares in the United States, nor shall there be any sale of these Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom.

About Amapá Minerals

Amapá Minerals is a gold mining company with its principal asset being the Amapá Project which is situated within the prolific Guiana Shield in Northern Brazil. The Amapá Project is a past‑producing open‑pit gold operation that has historically sold more than 1.5 million ounces of gold between 2005 and 2021.

Early Warning Disclosure

Starboard Asset Ltda.

Immediately prior to the closing of the Offering, Starboard Asset Ltda. ("Starboard"), through Classe Roca Magma Multiestratégia Responsabilidade Limitada do SSF IV Coinvestimento I Fundo de Investimento em Participações ("FIP Roca Magma"), owned or controlled 156,992,500 Common Shares and 55,946,250 warrants, representing the right to purchase a total of 55,946,250 Common Shares (the "Warrants"), representing approximately 70.86% of the issued and outstanding Common Shares on a non-diluted basis, and 76.73% of the issued and outstanding Common Shares on a partially-diluted basis (assuming the exercise of all of FIP Roca Magma's Warrants). Immediately prior to closing, Classe A Multiestratégia Responsabilidade Limitada do Starboard Special Situations IV Fundo de Investimento em Participações ("SSF IV") did not own any Common Shares. In connection with the Offering, Starboard, through SSF IV, acquired ownership or control of 37,127,909 Common Shares, representing approximately 10.64% of the issued and outstanding Common Shares on a non-diluted basis. Following the closing of the Offering, Starboard, through FIP Roca Magma and SSF IV, owns or controls 194,120,409 Common Shares, representing approximately 55.65% of the issued and outstanding Common Shares on a non-diluted basis, and 61.78% of the issued and outstanding Common Shares on a partially-diluted basis (assuming the exercise of all of FIP Roca Magma's Warrants).

Starboard and its joint actors hold their Common Shares for investment purposes. Depending on various factors, including, without limitation, market conditions, general economic and industry conditions, and the Company's business and financial condition, Starboard and its joint actors may take such actions with respect to its investment in the Company as they deem appropriate, including, without limitation, acquiring additional securities of the Company, or selling or otherwise disposing of securities of the Company from time to time, in each case subject to applicable laws and the terms of the Investor Rights Agreement and the lock-up agreements, each as described in the Prospectus.

For further information, including a copy of the corresponding early warning report to be filed by Starboard with the applicable Canadian securities regulatory authorities, please visit www.sedarplus.ca or contact José Eduardo Siqueira, Legal Manager of the Company, at jose.siqueira@amapaminerals.com or +55 21 99273-1725.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions, and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Prospectus filed on SEDAR+. Actual results could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

SOURCE Amapá Minerals Holdings Inc.

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