Mr. Luis Azevedo reports

BRAVO TO ANCHOR NEWLY APPROVED EXPORT PROCESSING ZONE (ZPE) IN BARCARENA, PARA, BRAZIL

The Conselho Nacional das Zonas de Processamento de Exportacao (CZPE) (National Council of Export Processing Zones) has approved the creation of a new export processing zone (ZPE or free trade zone) in the municipality of Barcarena, Para state, northern Brazil, including the endorsement of Bravo Metals Ltda., a 100-per-cent subsidiary of Bravo Mining Corp., as the anchor company for the potential future installation of a downstream smelter facility to process concentrates from its 100-per-cent-owned Luanga palladium-plus-platinum-plus-rhodium-plus-gold-plus-nickel deposit (PGM-plus-Au-plus-Ni deposit), located in the Carajas mineral province, Para state, Brazil.

The establishment of the Barcarena ZPE provides the strategic framework for Bravo's alternative case (vertical integration) scenario, as outlined in the company's preliminary economic assessment (PEA) for the Luanga PGM-plus-Au-plus-Ni project, published on July 7, 2025, supporting the potential development of a downstream processing facility within the ZPE, which would benefit from fiscal, import, export and taxation incentives available to companies operating in export processing zones.

The initiative was led by the government of the state of Para, through the Secretariat of Economic Development, Mining and Energy (SEDEME), and the Economic Development Company of Para (CODEC), in partnership with Bravo, and in co-ordination with the Brazil's Ministry of Mines and Energy (MME), Federation of Industries of Para (FIEPA), the State Secretariat for the Environment of Para (SEMA), and the Municipality of Barcarena.

A technical application was jointly submitted to the Brazilian federal government (Ministry of Development, Industry, Commerce and Services -- MDIC) and to the National Council of Export Processing Zones with the proposal for the creation of the export processing zone at the port of Vila do Conde in Barcarena, designating Bravo Metals as the anchor company.

"The approval of the Barcarena ZPE marks a pivotal milestone for both Bravo and the state of Para," said Luis Azevedo, chairman and chief executive officer of Bravo. "We are proud to have the Luanga project recognized as the anchor for this new ZPE -- the first mineral project ever selected since the creation of Brazil's first export processing zone in 1988. This initiative aligns perfectly with Brazil's strategy to foster a sustainable and secure supply of critical minerals that includes downstream processing, while promoting regional industrialization, job creation and the development of a technological base for mineral processing in one of the country's most prolific mining regions.

"The ZPE further strengthen Luanga's options and strong fundamentals as one of the few PGM-plus-Au-plus-Ni deposits globally that could potentially support a large-scale, long-life, open-pit operation, with its major permit secured and located in an infrastructure-rich area, far from geopolitical challenges. It goes without saying that this milestone would not have been possible without the commitment of our team and the seamless collaboration among multiple government agencies, secretariats and ministries. Brazil is a central participant in the global critical minerals landscape and Luanga has the potential to be one of its key contributors."

Strategic relevance to Bravo's vertical integration (alternative) scenario and Brazil's critical minerals policy:

• The Barcarena ZPE directly supports Bravo's alternative case (vertical integration) outlined in the Luanga project PEA.
• In that scenario, Bravo evaluated the potential for downstream processing and refining of PGM, nickel and copper products in Brazil, capturing more value domestically rather than exporting concentrates, as demonstrated with the economic outcomes of the Luanga project PEA.
• As part of this scenario, Bravo considered the treatment of flotation concentrates through conventional sulphur removal processes, followed by a pyrometallurgical route to recover the metals.
• This configuration would ensure compliance with prevailing environmental standards and include the production of sulphuric acid as a byproduct. Acid sales could enhance Bravo's revenues with numerous customers, including local fertilizer industries.
• The establishment of a downstream processing facility within the ZPE would potentially accrue material benefits to Bravo, including competitive and regulatory advantages in the form of fiscal and taxation benefits, integration within a globally significant and established logistics hub, and access to readily available, industrial-scale, infrastructure networks, including work force, power, natural gas, port and future rail connection.

Industrial synergies with the Barcarena fertilizer hub:

• In addition to established infrastructure, the Barcarena industrial corridor hosts multiple fertilizer and chemical producers that currently rely on imported sulphuric acid for fertilizer manufacturing.
• The acid generated as a byproduct of Bravo's integrated process could be sold directly to these local industries, creating strong downstream synergies, and reinforcing the industrial and environmental value proposition of locating facilities within the ZPE.

Strategic location:

• The Barcarena ZPE is located within one of Brazil's most important logistics and industrial corridors adjacent to the Port of Vila do Conde, a deepwater port complex handling bulk, liquid and containerized cargo.
• It offers direct maritime access to international markets, road and future rail connections to the Carajas mineral province (including the Luanga project, approximately 590 ki9lometres from Barcarena), and a diverse industrial base that includes alumina, fertilizers, fuels and metallurgical products.
• As with the Luanga project, which would source 100 per cent of its electrical energy needs from renewable power, the available electrical power infrastructure provides the ZPE with grid access to additional new, renewable supply. To this effect, the company has signed a letter of intent with Casa dos Ventos, an associate company of TotalEnergies, to secure new, renewable electrical energy supply for the downstream facility from renewable power sources within Para state.

Export processing zone tax and other incentives

Establishment and inclusion within the ZPE would allow Bravo to benefit from the following incentives:

• Suspension of the import tax (II), federal maritime tax (AFRMM), tax on industrialized products (IPI) and other taxes on imported products, including social contribution taxes (COFINS) and equipment imports (PIS/PASEP);
• Suspension of taxes on domestic purchases, including IPI, COFINS and PIS/PASEP;
• Exemption of import/export licensing and authorization requirements;
• Tax, administrative and foreign exchange benefits granted for a period of up to 20 years.

About export processing zones

Export processing zones are free trade areas established to host national or international companies focused on the production of goods and services for export.

The ZPE regime aims to attract domestic and foreign investment, increase the competitiveness of Brazilian exports, generate employment, promote regional development, and stimulate technological innovation.

Companies operating within a ZPE benefit from preferential tax, customs and foreign exchange regimes that enhance competitiveness in global markets.

Production destined for export guarantees suspension (or exemption) of IPI, PIS, COFINS, import tax and AFRMM on machinery, equipment and raw materials, significantly reducing project implementation (capex) and production costs, while incentivizing industrial growth.

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its PGM-plus-Au-plus-Ni Luanga project, as well as its copper-gold exploration opportunities in the world-class Carajas mineral province, Para state, Brazil.

Bravo is one of the most active explorers in Carajas. The team, comprising local and international geologists and engineers, has a proven record of PGM, nickel and copper discoveries in the region and elsewhere. The individuals in the team have successfully taken a past iron oxide, copper and gold (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, ports and hydroelectric grid power. Bravo's current environmental, social and governance activities include planting and donating more than 42,000 high-value trees in and around the project area in the past 30 months, while hiring personnel and contracting services locally.

Technical disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, FAusIMM (fellow of 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. Mr. Mottram has verified the technical data and opinions contained in this news release.

Details of the PEA and cautionary language are provided in a technical report, titled "NI 43-101 Preliminary Economic Assessment (PEA) Independent Technical Report for the Luanga PGM+Au+Ni Project Para, Brazil," with an effective date of July 7, 2025, filed under the company's SEDAR+ profile.

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