Bravo Intercepts 51m at 3.7 g/t PGM+Au + 0.33% Ni, including 23m at 5.6 g/t PGM+Au + 0.44% Ni at Luanga

Bravo Mining Corp. (BRVO) has released assay results from 13 diamond drill holes totaling 3,594 meters at the Luanga PGM+Au+Ni deposit in Brazil. The most significant intercept came from hole DDH26LU312, which returned 51.00 meters at 3.67 g/t PGM+Au, comprising 0.07 g/t Au, 0.84 g/t Pt, 2.61 g/t Pd, and 0.14 g/t Rh, along with 0.33% Ni. This interval includes a higher-grade segment of 23.00 meters at 5.59 g/t PGM+Au and 0.44% Ni.

Additional notable intercepts include DDH26LU316 with 50.00 meters at 2.55 g/t PGM+Au and 0.20% Ni; DDH26LU315 with 6.00 meters at 13.50 g/t PGM+Au and 0.21% Ni; and DDH26LU330 with 31.34 meters at 3.20 g/t PGM+Au and 0.15% Ni, as well as 7.20 meters at 4.03 g/t PGM+Au and 0.08% Ni. Drilling in the Central Sector has extended mineralization from approximately 200 meters to nearly 300 meters below the surface.

A hole in the Crescent Zone returned no significant intercept, while results for other holes remain pending. Meanwhile, a 50 line-kilometer Cu-Au IP geophysical survey has commenced.

Bravo Mining Corp. (BRVO) reported drill results that are incrementally positive for its Luanga project, confirming thick, high-grade PGM+Ni mineralization at depths capable of supporting resource conversion from Inferred to Indicated categories and potential resource expansion. For a company at the pre-feasibility stage, infill drilling that consistently exceeds the resource average is a material step in de-risking the deposit, though it represents an expected development phase rather than a new discovery.

The results are unlikely to materially alter the project’s net asset value at the pre-feasibility study level, though they may slightly improve grade or tonnage at the margin. Compared to the existing 10.4 moz Measured and Indicated resource, these intercepts align with or slightly exceed expectations, signaling no new discovery or step-change in project economics.

In market context, Bravo Mining’s stock had declined from $5.34 in January to $2.67 in late June before recently recovering to $3.25. The news serves as a positive reaffirmation of the deposit’s quality and may help stabilize sentiment, but it does not re-rate the company.

Bravo Mining Corp. (BRVO) is a Canadian-listed junior explorer focused on the Luanga PGM+Au+Ni project in the Carajás Mineral Province, Pará, Brazil. As of February 2025, Luanga hosts a large PGM+Ni resource comprising 158 million tonnes of Measured and Indicated material containing 10.4 million ounces of PdEq, alongside 78 million tonnes of Inferred resources containing 5.0 million ounces of PdEq.

A Preliminary Economic Assessment released in July 2025 outlines a 17-year open-pit operation producing approximately 436,000 ounces of PGE and 8,549 tonnes of nickel annually. The Base Case scenario projects an after-tax NPV8% of US$1.25 billion and an internal rate of return (IRR) of 27%, while the Alternate Case, which includes vertical integration, yields an after-tax NPV8% of US$1.86 billion and an IRR of 45%.

The company also holds IOCG-style copper-gold targets, including T5 and T16, on the same property, with past high-grade copper-gold intercepts such as 11.48 meters at 14.3% copper and 3.3 grams per tonne gold. To capitalize on these opportunities, Bravo Mining established a dedicated copper-gold exploration division in early 2026, led by Fabio Masotti. The company maintains a strong treasury with pro-forma cash of approximately US$97 million as of April 2026, carrying no debt and a clean capital structure.