Bravo to Anchor Newly Approved Export Processing Zone (ZPE) in Barcarena, Pará, Brazil
NEWS RELEASE
5 November 2025
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Bravo to Anchor Newly Approved Export Processing Zone (ZPE) in
Barcarena, Pará, Brazil
TORONTO, November 5, 2025 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) is
pleased to announce that the Conselho Nacional das Zonas de Processamento de Exportação ( 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, Pará State, northern Brazil.
The approval includes the endorsement of Bravo Metals Ltda. (Bravo Metals), a 100% 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% owned Luanga palladium + platinum + rhodium + gold + nickel deposit (“Luanga deposit”
or “Luanga PGM+Au+Ni deposit”), located in the Carajás Mineral Province, Pará State, Brazil.
The establishment of the Barcarena ZPE provides the strategic framework for Bravo’s Alternate Case (Vertical
Integration) scenario, as outlined in the Company’s Preliminary Economic Assessment (PEA) for the Luanga
PGM+Au+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 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.
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 (ZPE) 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 Pará,” said Luís Azevedo,
Chairman and CEO 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+Au+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 (Alternate) Scenario and Brazil’s Critical Minerals Policy
• The Barcarena ZPE directly supports Bravo’s Alternate Case (Vertical Integration) outlined in the Luanga
Project’s 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 Luanga Project’s PEA economic outcomes.
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• 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 e nvironmental standards and include the
production of sulphuric acid as a b y-product. Acid sales could enhance Bravo’s revenues with numer ous
customers including local fertilizer industries.
• The e stablishment 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.
Figure 1: Aerial view of the Barcarena Industrial Area and the ZPE location.
Industrial Synergies with the Barcarena Fertilizer Hub
• In addition to established infrastructure, t he Barcarena industrial corridor hosts multiple fertilizer and
chemical producers that currently rely on imported sulphuric acid for fertilizer manufacturing.
• The acid generated as a by -product 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 deep-water port complex handling bulk, liquid, and containerized cargo.
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• It offers direct maritime access to international markets, road and future rail connections to the Carajás
Mineral Province (including the Luanga Project, ~590km from Barcarena), and a diverse industrial base that
includes alumina, fertilizers, fuels, and metallurgical products.
• As with the Luanga Project, which would source 100% 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 Pará State.
Figure 2: Global shipping times from the Port of Vila do Conde.
Export Processing Zone Tax and Other Incentives
Establishment and inclusion within the ZPE would allow Bravo to benefit from the following incentives:
• Suspension of 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 authorisation requirements.
• Tax, administrative and foreign exchange benefits granted for a period of up to 20 years.
About Export Processing Zones (ZPEs)
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Export Processing Zones (ZPEs) 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+Au+Ni Luanga Project, as well as our copper-gold exploration opportunities in the world-class Carajás Mineral
Province, Para State, Brazil.
Bravo is one of the most active explorers in Carajás. The team, comprising of local and international geologists and
engineers, has a proven track 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 gold (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, ports, and hyd roelectric 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, F.AusIMM (Fellow
Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company’s “qualified
person” as defined in NI 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 Pará, Brazil”, with an effective
date of July 7, 2025, filed under the Company’s SEDAR+
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.
NEWS RELEASE
5 November 2025
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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 development ”, “benefit”, “solid”, ‘’will accrue material
benefits”, ‘’significant ”, “will”, “would”, “could”, “may”, “supports”, “positions”, “aims”, “is aligned with”, “creates
potential for” , 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 to, unexpected results from exploration programs, changes
in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining requir ed 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 future pre-
feasibility and feasibility studies; 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 ; 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 ge neral business
and economic conditions will not change i n 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 reasonable,
undue reliance should not be placed on such information. The Company discla ims any intention or obligation to
update or revise any forward-looking information, other than as required by applicable securities laws.