Bravo releases Jameson Cell flotation test results

Executive Summary

• Bravo Mining Corp. reported positive preliminary metallurgical test results using Jameson Cell flotation technology for its Luanga PGM-Ni-Au project in Brazil.
• The Jameson Cell tests demonstrated improved metal recoveries (5-10% for PGMs, 5-30% for Nickel) and a significant reduction in mass pull (up to 50%) compared to conventional laboratory-scale flotation cells.
• These results suggest potential for higher concentrate grades, lower operating costs, and reduced capital expenditures, supporting the ongoing prefeasibility study (PFS).

Key Details

• Technology Tested: Jameson Cell flotation technology, incorporated into the testwork program following the Preliminary Economic Assessment (PEA) dated July 7, 2025.
• Sample Source: 20-kilogram representative, homogenized sulphide composite from the North zone of the Luanga deposit.
• Sample Grades:
  • 4E PGM (Pd+Pt+Rh+Au): 1.97 g/t to 2.80 g/t.
  • Nickel (Ni): 0.21%.
• Grind Size: Target primary grind size of approximately P80 (29 micrometres).
• Recovery Improvements vs. Baseline:
  • Platinum Group Metals (PGM): Improved recovery by 5 to 10 per cent.
  • Nickel: Improved recovery by 5 to 30 per cent.
• Mass Pull Reduction: Reduced by up to 50 per cent compared to conventional cell benchmarks, indicating potential for higher concentrate grades and lower concentrate tonnage for the same payable metal.
• Technical Advantages Cited:
  • Better air bubble/mineral contact environment.
  • Potential for simplified process flowsheets and reduced circuit complexity.
  • Direct 1:1 scale-up confidence from laboratory to commercial installation.
• Benchmarking/Industry Context:
  • Valterra’s Mogalakwena North concentrator reported a 23% reduction in mass pull and an increase in concentrate grade from 60 g/t to 78 g/t.
  • Hudbay’s New Britannia concentrator reduced footprint by 50% (11 conventional cells to 4 Jameson cells).
  • Philex operation reduced footprint by 67% (50 conventional cells to 10 Jameson cells) with recovery improvements in copper and gold.
• Next Steps:
  • Validation of Jameson Cell performance in cleaner and scavenger circuit configurations.
  • Lock-cycle testing of various rougher-cleaner circuit configurations.
  • Testing samples from Luanga Central and Southwest Sectors.
  • Evaluation of grinding optimization, reagent dosages, and residency times.

Notable Quotes

• "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." — Luis Azevedo, Chairman and CEO
• "It is comforting to know that the Jameson Cell has been reported to be successful in large-scale mines... making its application to Luanga's potential 10 Mtpa run of mine technically supportable and appropriate." — Luis Azevedo, Chairman and CEO