Mr. Luis Azevedo reports

BRAVO METALS AUTHORIZED TO ESTABLISH INDUSTRIAL PROJECT IN BARCARENA EXPORT PROCESSING ZONE

Brazil's National Council for Export Processing Zones (CZPE) has formally authorized Bravo Metals Ltda., a wholly owned subsidiary of Bravo Mining Corp., to establish its approved industrial project within the Barcarena export processing zone (Barcarena ZPE) in the state of Para, Brazil.

The authorization was approved on Aug. 25, 2026, during the XLII Ordinary Meeting of the CZPE, under Brazil's Ministry of Development, Industry, Commerce and Services (MDIC), and was formally published on Sept. 1, 2026, in Brazil's Official Gazette through Resolution CZPE/MDIC No. 128, dated Aug. 25, 2026.

Under the resolution, Bravo Metals is authorized to establish itself within the Barcarena ZPE and manufacture nickel-platinum group metals (PGM) mattes/alloys comprising platinum, palladium, rhodium, nickel, copper and cobalt, in accordance with the industrial project previously approved by the CZPE.

The resolution also secures the ZPE tax, foreign exchange and administrative regime applicable to these activities for a period of 20 years, subject to compliance with applicable legislation and regulations. Key benefits include the suspension of certain federal taxes on imported equipment, inputs and other products, including Import Tax (II), IPI, PIS/PASEP and COFINS, as well as the suspension of certain taxes on domestic purchases and exemptions from certain import and export licensing and authorization requirements.

The CZPE authorization relates specifically to Bravo Metals' approved industrial project and its establishment within the Barcarena ZPE regime and is separate from environmental licences and other permits that may be required for the construction and operation of the proposed facilities.

"Today's authorization represents another important step in advancing our potential downstream processing strategy in Para state, Brazil," said Luis Azevedo, chairman and chief executive officer of Bravo. "Importantly, this is a new and key step in the process. Following the approval of the Barcarena ZPE and Bravo Metals' anchor industrial project last November, and the formal creation of the ZPE by presidential decree in January, 2026, Bravo Metals has now received the CZPE authorization to establish itself and manufacture its approved products within the Barcarena ZPE."

"This milestone is particularly timely as we advance Luanga's prefeasibility 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. In parallel with the PFS, we continue to advance the work required to support this potential development pathway."

"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. Together with direct access to international markets, these attributes reinforce our view of Barcarena as a highly strategic location to evaluate further processing of Luanga's critical and precious metals and potential value creation in Brazil."

A further step in the Barcarena ZPE process

The authorization represents a separate and subsequent regulatory step following two previously announced milestones in the establishment of the Barcarena ZPE and Bravo Metals' participation as its anchor industrial project:

November, 2025 -- CZPE approval and Bravo Metals as anchor company: On Nov. 3, 2025, the CZPE approved the proposal to create the Barcarena ZPE and approved Bravo Metals' industrial project as the anchor project for the proposed ZPE. That approval contemplated the future installation of Bravo Metals within the ZPE and required Bravo Metals, once formally constituted, to submit a subsequent application to the CZPE for authorization to establish itself within the ZPE (see Bravo news release dated Nov. 5, 2025).

January, 2026 -- Formal creation of the Barcarena ZPE: Presidential decree No. 12,823 was signed on Jan. 22, 2026, and published in Brazil's Official Gazette on Jan. 23, 2026, formally creating the Barcarena ZPE (see Bravo news release dated Jan. 26, 2026).

The authorization announced today completes the subsequent CZPE step contemplated by the November, 2025, approval, formally authorizing Bravo Metals to establish itself and manufacture the specified products within the Barcarena ZPE under its approved industrial project.

The authorization represents a further step in Bravo's strategy to evaluate downstream processing of concentrates potentially produced from its 100-per-cent-owned Luanga PGM+Au+Ni (platinum group metals plus gold plus nickel) project, located in the Carajas mineral province of Para.

Barcarena ZPE

The Barcarena ZPE is located within the industrial district of Barcarena, Para, adjacent to the Port of Vila do Conde, one of northern Brazil's principal deepwater port and industrial complexes. The surrounding industrial corridor hosts a significant concentration of 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 an important fertilizer production, blending, storage, and distribution hub serving Northern Brazil and the Arco Norte agricultural corridor, providing an established industrial and logistics ecosystem around the ZPE.

This ecosystem could provide synergies for the sulphuric acid that would be produced as a byproduct of the downstream processing route evaluated in Bravo's PEA. Sulphuric acid is an important input in phosphate fertilizer production, while Brazil remains dependent on imported sulphur and sulphuric acid. Barcarena's fertilizer and chemical industries, port infrastructure and access to the broader northern Brazilian market could therefore provide local and regional market opportunities for sulphuric acid from a future Bravo Metals operation.

Bravo's Luanga project remains the only minerals and metals project approved as an anchor industrial project within a Brazilian ZPE, providing a differentiated platform to potentially process and add value to Luanga's critical and precious metals in Brazil. This approach is aligned with Brazil's broader critical minerals strategy of promoting greater domestic processing and value addition to the country's mineral resources.

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its PGM+Au+Ni deposit while also exploring for iron-oxide-copper-gold-style Cu+Au and magmatic-style Ni+Cu plus/minus PGM plus/minus Au mineralization within its Luanga project in the Carajas mineral province, Para state, Brazil. Bravo is one of the most active explorers in Carajas.

The team, comprising 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 while defining other significant deposit types in the region.

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 56,000 high-value trees in and around the project area and hiring and contracting locally.

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