Bravo Mining Welcomes Presidential Decree Creating the Barcarena Export Processing Zone (ZPE)
NEWS RELEASE
26 January 2026
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Bravo Mining Welcomes Presidential Decree Creating the Barcarena
Export Processing Zone (ZPE)
TORONTO, January 26, 2026 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF) (“ Bravo” or the “ Company”)
welcomes the publication of Presidential Decree No. 12,823, signed on January 22, 2026, by President Luiz Inácio Lula
da Silva, which formally creates the Export Processing Zone of Barcarena ( ZPE Barcarena ) in the Municipality of
Barcarena, State of Pará. The Decree was published on January 23, 2026 in the Diário Oficial da União, Brazil’s Federal
Gazette. Link here: DECRETO Nº 12.823
The decree represents the final federal act establishing the ZPE, following its prior approval by Brazil’s National
Council of Export Processing Zones (CZPE). As previously announced on November 5, 2025, Bravo has been selected
to anchor the ZPE Barcarena, becoming the first mineral project ever designated as an anchor tenant of a Brazilian
ZPE.
In this context, the publication of the Presidential Decree strengthens Bravo’s Alternate Case development scenario
as such detailed in our Preliminary Economic Assessment (“PEA” , see press release dated on July 7, 2025 ), which
contemplates the use of the ZPE Barcarena fiscal framework to enable local processing and vertical integration of
metals potentially produced from the Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga
Project" or "Luanga PGM+Au+Ni Project").
The formal creation of the ZPE enhances regulatory certainty around this complementary pathway and reinforces
the strategic alignment of the Company’s potential development plans with Brazil’s national industrial policy and
Pará’s economic development agenda.
The initiative was led by the Government of the State of Pará , through the Secretariat of Economic Development,
Mining and Energy (SEDEME) and the Economic Development Company of Pará (CODEC), in partnership with Bravo,
and in coordination with the Brazil’s Ministry of Mines and Energy (MME), Federation of Industries of Pará (FIEPA),
the State Secretariat for the Environment of Pará (SEMA), and the Municipality of Barcarena.
“The signing of the Presidential Decree formally creating the ZPE Barcarena is a significant milestone for Bravo and
materially advances regulatory certainty around our development scenario,” said Luís Azevedo, Chairman and CEO of
Bravo. “Coming on the heels of the recent closing of our oversubscribed equity financing for net proceeds of ~C$81.8
million, completed amid strong investor demand and an improving PGM price environment, with the 4PGE * basket
price now approximately 60% higher than the price used in our PEA , this development further reinforces our
confidence in the long-term strategic positioning of the Luanga Project. Together, these milestones highlight both the
strength of our asset and the growing alignment between Bravo’s development strategy and Brazil’s industrial and
economic objectives”.
*4PGE = Platinum, Palladium, Rhodium and Gold
Barcarena Export Processing Zone (ZPE)
As detailed in the Company’s press release dated November 5, 2025 , the ZPE Barcarena is located within the
Industrial District of Barcarena, at the Port of Vila do Conde in Barcarena, and comprises approximately 271 hectares,
strategically positioned near deep-water ports, energy infrastructure, and established industrial logistics corridors.
Under Brazil’s ZPE framework, companies operating within the zone benefit from a differentiated regulatory, tax,
and customs regime designed to promote industrialization, exports, and value-added processing.
The establishment of the ZPE significantly enhances Bravo’s PEA Alternate Scenario (vertical integration) by providing
access to a range of structural benefits, including potential capital and operating cost savings through exemptions on
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imported equipment and supplies, as well as tax-advantaged export treatment from a strategically located industrial
hub with direct access to the existing maritime infrastructure.
The ZPE Barcarena is an established industrial district that hosts multiple fertilizer and chemical producers, many of
which are constrained by reliance on imported sulphuric acid. This limitation creates a potential local market for
sulphuric acid that would be produced as a by -product of the vertical integration smelting process. Consequently,
sulphuric acid is an essential component for fertilizer production in Brazil, and Bravo’s potential acid by-product may
represent an additional revenue stream.
To illustrate the potential of this opportunity, the PEA assumed a sulphuric acid sales credit of US$160/t, while recent
market prices have reached approximately US$440/t . At current prices , it has been reported that some major
fertilizer producers have temporarily suspended production. Consequently, providing a local source of acid could
potentially benefit the local fertilizer producers and Bravo’s margins.
Importantly, the Base Case for the Luanga Project, which contemplates concentrate sales only, already exhibits strong
standalone economics, providing a solid foundation for the evaluation of additional development alternatives. This
highlights the potential project’s resilience across a range of scenarios, particularly in the context of prevailing PGM
prices and supportive market fundamentals.
While vertical (downstream) integration is typical in the PGM sector, many projects still face constraints related to
limited smelting capacity and/or access to processing facilities. In this context, the Barcarena ZPE provides Bravo with
additional optionality and strategic flexibility, strengthening the range of complementary development pathways
available to the Company. Further, the Barcarana ZPE with access to the Atlantic Ocean provides opportunities for
import and re-export of third-party nickel and/or PGM concentrates within the ZPE framework.
Figure 1: Barcarena Industrial Area, ZPE location and International Routes from Port of Vila do Conde, Barcarena, Pará
State
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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 Carajás Mineral Province, Pará State, Brazil.
Bravo is one of the most active explorers in Carajás. The team, comprising of local and international geologists, has
a proven track 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 Carajás.
The Luanga Project is situated on mature freehold farming land and benefits from being located close to operating
mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including
road, rail, and hydroelect ric 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.
For further information about Bravo, please visit www.bravomining.com or contact:
Luis Azevedo, Chairman and CEO or
Alex Penha, EVP Corporate Development
T: +1-416-509-0583
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward -looking information which is not comprised of historical facts. Forward -looking
information is characterized by words such as “potential”, “benefit”, ‘’significant ”, “supports”, “positions”, “aims”,
“is aligned with” , variants of these words and other similar words, phrases, or statements that certain events or
conditions “could”, “may”, “should”, “will” or “would” occur. Forward-looking information involves risks, uncertainties
and other factors that could cause actual events, results, and opportunities to differ materially from those expressed
or implied by such forward-looking information. Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited t o, unexpected results from exploration programs, changes
in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or
governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties
involved in the mineral exploration and development industry. Forward -looking information in this news release is
based on the opinions and assumptions of management considered reasonable as of the date hereof, i ncluding, but
not limited to: whether or not the economic scenarios outlined in the Luanga PEA are supported by any future pre-
feasibility and feasibility studies and the timing and result thereof ; whether or not the Luanga deposit is developed;
whether or not the Barcarena ZPE is utilized for downstream processing of concentrates from the Luanga deposit ;
whether there will be buyers of acid in proximity to any smelter developed and, if so, under what terms and conditions;
whether any third parties would want to use a smelter developed within the Barcarana ZPE and, if so, on what terms
and conditions; whether currently higher PGM prices will be sustained and, if so, for how long; that activities will not
be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and
safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general
business and economic conditions will not change in a materially adverse manner. Although the Company believes
that the assumptions and factors used in preparing the forward -looking information in this news release are
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reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or
obligation to update or revise any forward-looking information, other than as required by applicable securities laws.