Mr. Luis Azevedo reports

BRAVO REPORTS POSITIVE RESULTS FROM FLOTATION TEST WORK

Bravo Mining Corp. has released encouraging results from metallurgical testwork, incorporating Jameson Cell technology, for its 100-per-cent-owned Luanga palladium plus platinum plus rhodium plus gold plus nickel deposit, located in the Carajas mineral province, Para state, Brazil.

Postcompletion of the preliminary economic assessment (PEA, see news release, dated July 7, 2025), Bravo identified an opportunity to further improve metallurgical performance versus the PEA and incorporated well-established Jameson flotation cell technology into its testwork program. This work forms part of Bravo's continuing optimization and metallurgical development program aimed at enhancing metal recovery, improving selectivity to produce higher-grade concentrates, and potentially simplifying future process flows in support of the continuing prefeasibility study (PFS).

• Jameson Cell testing delivered encouraging recovery-to-mass pull* performance relative to the traditional rougher flotation previously recorded.
• * Recovery-to-mass pull represents the percentage of mineralized material content to final concentrate relative to feed material.
• Results exceed data generated using conventional laboratory scale traditional flotation cells.
  • PGM (platinum group metals) recoveries improved by 5 to 10 per cent while nickel improved 5 to 30 per cent above baseline conventional cell recoveries, while mass pull reduced by up to 50 per cent.
• Results to date suggest potential to achieve lower mass pull and enhanced selectivity, which may result in higher concentrate grades and lower concentrate tonnage for the same payable metal, positively impacting potential future concentrate payabilities and operating costs.
• Nickel recoveries also surprised on the upside, showing potential to further improve future Luanga concentrate value and Luanga project economics.
• Improved rougher stage recovery was observed across the Luanga mineralization metals suite of platinum group metals (PGM), nickel and gold.
• Jameson Cell technology is now widely adopted globally, including in PGM operations in southern Africa, reportedly leading to improved recoveries and concentrate grades, and reductions in capital and operating expenditures.
• This technology will be trialled in the subsequent cleaner and scavenger circuit configurations and on samples from the additional mineralized zones.

"The preliminary Jameson Cell results are highly encouraging and reinforce the technical optionality available to Bravo as we advance our metallurgical studies. Incremental recovery improvements at higher concentrate grades would be beneficial for potential future flotation plant economics, downstream processing efficiencies, and the economics of shipping and selling a PGM concentrate. Improved metallurgical performance also enhances the potential of the optional vertically integrated project scenario," said Luis Azevedo, chairman and chief executive officer. "It is comforting to know that the Jameson Cell has been reported to be successful in large-scale mines, such as Valterra's Mogalakwena PGM mine in South Africa and the Mt. Isa Cu mine in Australia, making its application to Luanga's potential 10 Mtpa run of mine technically supportable and appropriate. While still early stage, these outcomes support continued evaluation of the Jameson Cell technology to a level of confidence acceptable for future studies and, if proven feasible, could improve concentrate grade, and reduce the capex and opex associated with the flotation plant. Combined with a backdrop of rising PGM prices, this bodes well for Bravo's potential future development outcomes."

Initial results demonstrate that the Jameson Cell achieved improved metal recoveries at significantly reduced mass pull when benchmarked against traditional flotation (conventional) cells. The improved performance is attributed to the better air bubble/mineral contact environment created within the Jameson Cell environment. Results, whilst preliminary in nature, justify continued evaluation of the Jameson technology.

Work streams within continuing metallurgical program include optimization tests for grinding, reagent dosages, residency times and circuit configuration. The program scope also considers evaluating various established flotation technologies believed capable of enhanced metal recovery, improving selectivity for a higher-grade concentrate product, reducing circuit complexity and optimizing capital expenditure.

Preliminary metallurgical testwork results

The company identified an opportunity to further improve metallurgical performance by targeting incremental recoveries from losses of fine-grained mineralization reporting to final tailings. To this end, the well-established Jameson flotation cell technology has been considered and included in the general test program.

The reported Jameson Cell test results form part of an continuing laboratory-scale flotation program designed to assess the response of Bravo's Luanga (fine-grained) mineralization to alternative flotation technologies and varying operating conditions. Tests were (and continue to be) conducted at Base Metal Laboratories in Kamloops, B.C., Canada. Parameters evaluated included: reagent suite, air rate, feed solids and residence time, benchmarked against previous flotation data sets.

The Jameson Cell rougher test results plot favourably on the recovery versus mass pull curve when compared with conventional cell rougher tests. Notably, higher recoveries were recorded with a significantly reduced mass pull, translating to the production of a higher-grade concentrate. This improvement over conventional cell performance is attributed to the improved contact between air bubbles and minerals within the Jamson Cell.

While management cautions that results are preliminary, they are considered significant given their apparent improvement compared with historical values. Jameson technology could also produce further upsides, including reduced circulating loads, simplified rougher-cleaning stages and improved overall flotation efficiency.

The Jameson test was conducted as a laboratory-scale rougher flotation exercise using a Jameson L150 cell on a 20-kilogram representative, homogenized, sulphide composite from the North zone, with PGM grades in the test samples ranging from 1.97 grams per tonne Pd plus Pt plus Rh plus Au (4E PGM), 0.21 per cent Ni to 2.80 grams per tonne 4E PGM, 0.21 per cent Ni. The sample was prepared to target a primary grind size of approximately P80 (29 micrometres).

To establish the base line for comparison, a conventional sulphide reagent suite, including PE26 depressant and PAX collector was used to replicate historical parameters. Operating conditions were controlled to optimize the Jameson Cell air bubble mixing intensity, including stable air entrainment, feed density and froth washing.

Relative to the comparative baseline assessment data, the Jameson test demonstrated apparent improvements in recovery of 5 to 10 per cent for platinum, palladium and gold. Similarly positive results were reported for nickel recoveries, with a 5- to 30-per-cent improvement across the recovery-mass pull curve versus the conventional cells.

Furthermore, this outcome was achieved coincident with a 50-per-cent reduction in mass pull, at similar recovery assessment points on the recovery-mass pull curve, which suggest overall higher final concentrate grades may be achieved.

Importantly, Jameson Cell technology is reportedly characterized by a direct 1:1 scale-up from laboratory cells to full-scale commercial installations, providing a high degree of confidence that performance observed under lab conditions is likely representative of what should be expected in an industrial scale application.

As such, the results provide a robust indication of the expected performance of Jameson cells within a future commercial processing flowsheet. Consequently, Jameson results are accepted as being sufficiently reliable for inclusion in future PFS/FS studies.

Mineralogical-metallurgical relevance

Previous mineralogical investigations of the Luanga mineralization have determined that a component of the platinum group minerals occurs within a fine size fraction. The collection and flotation kinetics in Jameson cells has been demonstrated to be effective at further improving recovery of minerals in fine fractions, while significantly reducing mass pull, thus further improving the selectivity and concentrate grade.

Relatively small improvements in metallurgical performance (that is, recovery and grade) have significant impacts on project economics and warrant continuing metallurgical programs. Management believes that further investment in an expanded metallurgical development program to include larger scale (pilot plant) testing is justified.

Jameson Cell flotation technology

The Jameson Cell is a high-intensity flotation technology with a long and well-established operating history. Since its first industrial installation in 1989, more than 500 Jameson Cells have been installed globally across a wide range of commodities, including copper, coal, gold, nickel, zinc and platinum group metals. To date, nine units have been installed in platinum group metal concentrators.

Jameson Cells are increasingly utilized in platinum group metal circuits, where fine particle recovery and selectivity is important. In southern Africa, the technology has reportedly been adopted and implemented by major PGM producers, including operations associated with Valterra Platinum (Mogalakwena mine) and Ivanhoe Mines (Platreef mine), where Jameson Cells have been deployed to enhance recoveries, reduce the circuit footprint and lower operating costs.

Key advantages of Jameson Cell technology are reported to include:

• High recovery across a wide particle size range, from ultrafine to coarse material;
• Feed to concentrate conversion (mass pull) reduction, supporting improved concentrate payabilities and reduced logistics costs;
• Reduced footprint and simplified circuit design compared with conventional mechanical flotation cells;
• Lower capital and operating costs due to fewer moving parts and reduced maintenance requirements;
• Proven scalability from laboratory testing through to large-scale commercial concentrators.

These attributes align closely with Bravo's objective of developing a robust, efficient and capital-conscious processing flowsheet.

Postimplementation at its Mogalakwena North concentrator, Valterra have reported a reduction in mass pull to concentrate of 23 per cent and an improvement in concentrate grade from 60 g/t to 78 g/t.

Other notable, recent installations of Jameson concentrators include Hudbay's New Britannia concentrator, upgrades to the Philex copper mine Jameson concentrator, Ero Copper's Caraiba concentrator and a planned installation at Vale's Sossego operation in the Carajas, Brazil.

The Hudbay operation reportedly reduced 11 conventional flotation cells to four Jameson cells, reducing the plant footprint by 50 per cent and achieved wet commissioning in two days while achieving target metallurgical performance in less than 24 hours. The Philex operation reduced its operating footprint by 67 per cent, reconfiguring from 50 conventional cells to 10 Jameson cells. Rougher and Scavengers reported a 3.3-per-cent and 4.5-per-cent recovery improvement in copper and gold flotation, respectively. In Brazil, Jameson Cells are currently in utilized at Ero Copper's Caraiba copper operation with installation planned at Vale's Sossego copper operation.

Next steps

Bravo will continue its metallurgical testwork program, with a focus on validating Jameson Cell performance through additional testing and assessing its integration into the Luanga flowsheet. Testing will include further rougher trials and exercises wherein the Jameson is used instead of traditional cells in the cleaner circuit, the latter being very important to confirm that the Jameson technology works equally well in the cleaner section. This will then be complemented by lock-cycle testing of various rougher-cleaner circuit configuration. Samples from the Luanga Central and Southwest Sectors will also be examined using Jameson cells to ensure suitability across the whole deposit. Results from this program are expected to provide new and important contributions for current

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its PGM and copper-gold Luanga project in the Carajas mineral province, Para state, Brazil.

Bravo is one of the most active explorers in Carajas. The team, comprising of local and international geologists, has a proven record of PGM, nickel and copper discoveries in the region. They have successfully taken a past IOCG greenfield project from discovery to development and production in the Carajas.

The Luanga project is situated on mature freehold farming land and benefits from being located close to operating mines and a mining-experienced work force, with excellent access and proximity to existing infrastructure, including road, rail and hydroelectric grid power. Bravo's current environmental, social and governance activities include planting more than 50,000 high-value trees in and around the project area and hiring and contracting locally.

Technical disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, F AusIMM (fellow, Australia Institute of Mining and Metallurgy), president of Bravo Mining, who serves as the company's qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Mottram has verified the technical data and opinions contained in this news release.

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