Bravo Expands Copper-Gold Footprint in Carajás, Brazil

Strategic entry into the Canaã IOCG district adds previously drilled Cu-Au prospects, extensive exploration data. 8,400m drilling program planned.

TORONTO, Oct. 20, 2026 /CNW/ -- Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") has added the Canaã Copper mineral property ("Canaã Copper" or "Project") to its Carajás property portfolio. Canaã Copper is located in the southeast portion of the Carajás Mineral Province ("CMP"), close to the city of Canaã dos Carajás. This acquisition results from the ongoing evaluation of exploration opportunities for iron oxide copper gold ("IOCG") projects by Bravo's Copper-Gold Exploration Division. Canaã Copper is an exploration project containing drill-intercepted Cu-Au mineralization at the Tapuia and Gueroba prospects.

Figure 1: Canaã Copper Project location.

Figure 2: Main historic exploration work at Canaã Copper, over local geology.

Highlights:

• Canaã Copper Advances Bravo's Copper-Gold Division's strategy to build a portfolio of Cu-Au opportunities in Carajás alongside the Company's flagship PFS-stage Luanga PGM+Au+Ni Project.  See the Company's website for additional information on its Cu-Au strategy (link here).

Strategic entry into the Canaã IOCG district - 100% interest in a 6,185-hectare property near Vale's Cu-Au Sossego mine and Cristalino deposit, within the prolific Carajás IOCG province. See Bravo's website at link Canaã Copper Project Overview.

• Two Drill-Tested Cu-Au Prospects – Tapuia and Gueroba – Historical OZ Minerals drilling (27 holes; 5,009m) intersected high-grade IOCG-style mineralization, including:
  • Tapuia: OPCTD-011: 28.45m @ 2.43% Cu and 0.78 g/t Au from 241.55m¹
  • Tapuia: OPCTD-003: 18.00m @ 2.72% Cu and 0.42 g/t Au from 135.00m, and 18.00m @ 2.07% Cu and 0.44 g/t Au from 66.0m¹
  • Gueroba: OPCGD-001: 15.85m @ 1.74% Cu and 0.14 g/t Au from 75.15m, including 5.00m @ 3.25% Cu and 0.26 g/t Au¹
• Extensive Historical Dataset – Currently the data set is undergoing validation, with the historical data comprising 2,287 soil samples, 460 line-km of airborne geophysical surveys, multiple ground geophysical surveys, and historical drill core and pulps.
• Opportunity to Improve Mineralization Understanding – The historical drilling is widely spaced (~100m between sections), with proposed closer-spaced drilling having the potential to better define the mineralization geometry, continuity and controls at Tapuia and Gueroba.
• Additional Ni and Cu Potential at Campo Grande Target – The property is also prospective for iron oxide-copper-nickel ("IOCN"), lateritic Ni and magmatic Ni-Cu-PGM mineralization, based on historical Cu-Ni drill intercepts associated with mafic-ultramafic rocks and a nickel-in-soil anomaly exceeding 1% Ni over approximately 700 m × 150 m, adjacent to a garnierite (nickel silicate) occurrence.
• Potential for new targets – Exploration is planned across the large property to identify additional targets.
• Work program - Approximately 5,300m of infill and step-out drilling is proposed at Tapuia on a 50m × 50m grid. To be followed by approximately 3,100 m of drilling at Gueroba.

¹    All 'From', 'To' depths, and 'Thicknesses' are downhole. All results in this report are historic, and given the historic origin, true widths and thicknesses are unknown.

"In line with our strategy to build a copper-gold pipeline while continuing to advance our flagship Luanga PGM-Au-Ni deposit towards a development decision, Canaã Copper marks the first strategic entry by our Copper-Gold Division into the Canaã district.  Canaã is one of the most significant IOCG districts in the Carajás and an area our team knows well," said Luis Azevedo, Chairman and CEO of Bravo. "With two historically drilled copper-gold prospects, Tapuia and Gueroba, and an extensive exploration dataset and access to the historical drill core, we have a solid foundation from which to advance exploration. Our immediate priority is to further validate the historical work and advance an initial 8,400-metre drilling program at Tapuia and Gueroba, starting with closer-spaced drilling at Tapuia to better define the geometry and continuity of mineralization, with the objective of supporting a potential maiden NI 43-101 mineral resource estimate. Canaã Copper is an important addition to our growing copper-gold portfolio, complementing our exploration activities at Luanga, while we continue evaluating further opportunities across Carajás."

Canaã Copper Property Overview

Bravo has acquired a 100% interest in the Canaã Copper Project, covering approximately 6,185 hectares.  The Project is located immediately NE of the city of Canaã dos Carajás, approximately 120 km southwest of Bravo's flagship Luanga Project, including the PFS-stage Luanga PGM+Au+Ni deposit, via paved roads. Canaã dos Carajás is a major mining centre in the Carajás region, with an estimated population of approximately 90,000 (Instituto Brasileiro de Geografia e Estatística, 2025), supporting Vale's Sossego copper-gold and S11D iron ore operations, with well-developed infrastructure, mining services and an experienced workforce.

Canaã Copper is situated within the Canaã district of IOCG deposits and prospects, one of the most significant IOCG districts globally. The district extends approximately 50 km east-west, from the Alvo 118 deposit and Sossego mine in the west to the Cristalino deposit in the east. The property hosts two historically drilled copper-gold prospects, Tapuia and Gueroba, as well as the Campo Grande target, where historical exploration identified copper-nickel mineralization associated with mafic-ultramafic rocks and lateritic Ni mineralization.

Between 2019 and 2024, OZ Minerals Limited ("OZ Minerals") conducted surface exploration across the Project area, including 2,287 soil samples, approximately 460 line-km of airborne geophysics, multiple ground geophysical surveys and completed 5,009 m of diamond drilling in 27 holes. Drilling intersected IOCG-style copper-gold mineralization at Tapuia and Gueroba, although the relatively wide historical drill spacing leaves the geometry and continuity of mineralization insufficiently defined. Bravo has received the historical exploration database, drill core and sample pulps and is undertaking further data validation, relogging of core and geological reinterpretation.

Bravo's initial work program will focus on Tapuia, with approximately 5,300m of infill and step-out drilling planned on a 50m × 50m grid to better define the geometry, continuity and potential extensions of the mineralization, with the objective of supporting a potential maiden NI 43-101 mineral resource estimate. A further 3,100m of drilling is planned at Gueroba in a subsequent phase. In parallel, Bravo intends to advance exploration across the broader property, including Campo Grande, through geological mapping, geochemical sampling and geophysical surveys to identify additional drill targets. 

Location and access

The location of Canaã Copper is depicted in Figure 1. Access to the Project is very good, through a network of paved and unpaved roads. The Project area is almost entirely covered by medium to large scale cattle farms, in gently rolling topography in which the native vegetation has been replaced by pasture. A government sponsored land settlement consisting of several small farms occurs in the SW corner of the project. Some natural vegetation occurs along the southern edge of the project, associated with the Crimea mountain range. The Municipal Park Veredas dos Carajás, a conservation area, occurs in this range but does not overlap with the Project area. A buffer zone to this conservation area has a small overlap with the property in its central-south limit area.

Historical Exploration Work

Exploration was carried out on the Project from 2019 to 2024 by AVB Mineração Ltda. ("AVB"), then a subsidiary of OZ Minerals, under an option agreement with the project owner.

The exploration dataset, including drillhole core and pulps, has been delivered to Bravo. Historic work included extensive geochemical sampling (stream sediments, rocks and soils), airborne and ground geophysics. Table 1 summarizes the work completed to date.

Bravo is currently undertaking validation the historic data including relogging of drill core, database validation, and geophysical and structural reinterpretation. Figure 2 shows the main work completed at Canaã Copper.

Category	Work Completed	Quantity	Unit	Drillholes
Geochemistry	Soil samples	2,287	samples
	Stream sediment samples	102	samples
	Rock samples	24	samples
Airborne geophysics	AEM and magnetics. N–S lines at 200m spacing	460	line-km
Ground geophysics	Magnetometry (3 grids)	251	line-km
	Induced Polarization (Tapuia and Gueroba prospects)	13	line-km
	FLEM, 8 loops	57	line-km
	BHEM, 8 drill holes	1,601	m
Diamond drilling	Tapuia	2,582	m	11
	Gueroba	1,263	m	10
	Campo Grande	1,164	m	6
	Total drilling	5,009	m	27

                                Table 1: Summary of Historical Exploration Work.

Follow-up exploration on the main airborne electromagnetic and soil geochemistry anomalies resulted in the definition of three main target areas for IOCG mineralization: Tapuia, Gueroba and Campo Grande.

Subsequent drilling intersected Cu-Au mineralization in both the Tapuia and Gueroba prospects, whilst Campo Grande returned some narrow Cu-Ni mineralized intervals associated mostly with mafic and ultramafic rocks with hydrothermal alteration.

For additional information on the Canaã Copper Project, see Bravo's website at link Canaã Copper Project Overview.

Proposed Work Program

Bravo's exploration program at Canaã Copper will initially focus on better defining mineralization and potential extensions at Tapuia, with approximately 5,300m of infill and exploratory diamond drilling planned on a 50 × 50 m grid across known mineralization and extensions. Landholder access agreements have been secured and environmental licensing for drilling is underway.

Additional work will also include geophysics (including borehole EM, if warranted), geotechnical logging, petrographic and mineralogical characterization and preliminary metallurgical testing to support a potential NI 43-101 mineral resource estimate. Additional infill and step-out drilling may follow, depending on results.

A second stage drilling program at Gueroba is planned following completion of drilling at Tapuia, with approximately 3,100 m currently planned.

The Canaã Copper property covers a large area, with its northern and central portions having received limited follow-up exploration to date. In parallel with work at Tapuia and Gueroba, Bravo plans to advance exploration across the broader property, including the Campo Grande prospect, through geological mapping, additional soil and rock geochemical sampling, and follow-up geophysical surveys, including induced polarization (IP), with the objective of defining and testing new drill targets.

Acquisition Details

The acquisition was completed pursuant to an agreement signed on July 23, 2026, with Riverine Holdings LTD, an arm's-length third party to the Company. Consideration for the acquisition will be paid entirely in cash. No securities of the Company will be issued in connection with the transaction, and no finder's fees are payable.

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its PGM+Au+Ni and Cu-Au Luanga Project, as well as its broader Cu-Au exploration strategy across the Carajás Mineral Province, all in Pará State, Brazil.  Bravo is one of the most active explorers in Carajás region.

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 hydroelectric grid power. Bravo's current Environmental, Social and Governance activities include planting more than 56,000 high-value trees in and around the project area and hiring and contracting locally.

Technical Disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australian Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the data disclosed in this news release to the extent described under "Historical Exploration Data and Data Verification" below.

Historical Exploration Data and Data Verification

The exploration results disclosed in this news release, including drilling, geochemical and geophysical results, are historical in nature. They were generated between 2019 and 2024 by AVB, then a subsidiary of OZ Minerals, before Bravo's involvement with the property, and are taken from OZ internal reports, files and database and from the Final Exploration Report filed with ANM in 2021. While Bravo believes the information to be relevant and reliable, Bravo has not yet completed its independent verification of these data and is not responsible for the work completed by OZ Minerals.

Drill intercepts are reported as core lengths. True widths are not currently known; based on the interpreted geometry of the mineralization, true widths at Tapuia are expected to be less than the reported core lengths.

Mineral Resources

No mineral resources or mineral reserves, as defined by the CIM Definition Standards and NI 43-101, have been estimated for the Canaã Copper property. The Final Exploration Report filed with ANM contains estimates prepared for the Gueroba prospect under Brazilian mining regulations. These estimates are not compliant with NI 43-101; a qualified person has not done sufficient work to classify them as current mineral resources or mineral reserves, Bravo is not treating them as current mineral resources or mineral reserves, and they are not disclosed in this news release.

Adjacent and Nearby Properties

This news release refers to mines, deposits and projects on properties near the Canaã Copper property, including Alvo 118, Sossego Cristalino and S11D, which are owned by third parties. The QP has not verified the information regarding these properties, and the presence of mineralization on adjacent or nearby properties is not necessarily indicative of mineralization on the Canaã Copper property.

References to Other Companies

References to OZ Minerals, BHP and CoreX are provided for historical context only. None of these companies has reviewed or endorsed this news release or Bravo's interpretation of the historical data.

For further information about Bravo, please visit www.bravomining.com 

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

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is often identified by words such as "plan", "expect", "intend", "anticipate", "believe", "estimate", "potential", "propose", "target", and variants of these words and other similar words, phrases, or statements that certain events or conditions "may", and "will", and similar expressions, although not all forward-looking information contains these words. Forward-looking information in this news release includes, without limitation: the Company's strategy to expand its copper-gold exploration portfolio in the Carajás Mineral Province and evaluate additional opportunities and whether any other such projects are acquired and, if so, on what terms and conditions; its plans for and expected benefits of the Canaã Copper Project; the proposed approximately 8,400 m drilling program, including approximately 5,300 m of infill and step-out drilling at Tapuia and approximately 3,100 m at Gueroba, and the timing, sequencing, scope and results of that work; the ability of closer-spaced drilling to establish the geometry, continuity, extent and controls of mineralization and identify possible extensions; the potential preparation of a maiden mineral resource estimate compliant with NI 43-101 and the results thereof; the validation, relogging, reinterpretation and use of historical exploration data, drill core and sample pulps and the results thereof; planned geophysical, geological, geochemical, geotechnical, mineralogical, petrographic and preliminary metallurgical work and the results thereof; the potential identification, definition and testing of additional targets, including at Campo Grande and elsewhere on the property and whether any such targets identified have economic merit; the interpreted styles of mineralization and the potential for IOCG, IOCN, lateritic nickel and magmatic nickel-copper-PGM mineralization and the implications thereof; the timing, receipt and maintenance of required environmental licences, permits, regulatory approvals and landholder access required to complete the proposed work programs; and the Company's future exploration, development and corporate plans. Forward-looking  information is based on management's current expectations, estimates and assumptions, including that historical exploration information is sufficiently reliable to guide future work, subject to ongoing verification; that the Company will be able to obtain and maintain necessary mineral tenure, permits, licences, approvals and landholder access; that exploration activities, personnel, contractors, equipment and funding will be available as planned; that geological interpretations and exploration methods will provide a reasonable basis for target generation and drill planning; that commodity prices, costs, capital markets and general economic and operating conditions will not change materially adversely; and that operations will not be materially disrupted by environmental, social, community, political, regulatory, logistical, health and safety or other events. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These include, without limitation: the inherent uncertainty of mineral exploration and geological interpretation; unexpected or disappointing drilling, geophysical, geochemical or metallurgical results; incomplete, inaccurate or unverifiable historical data; the possibility that mineralization is discontinuous, smaller or lower grade than anticipated or does not support a mineral resource estimate; uncertainty regarding the timing, cost and completion of planned programs; permitting, mineral tenure, regulatory and land-access risks; community relations and environmental constraints, including restrictions associated with nearby protected-area buffer zones; changes in commodity prices, exchange rates, inflation and operating costs; availability of capital, contractors, equipment and skilled personnel; logistical and supply-chain disruptions; and other risks inherent in mineral exploration and development, including those described in the Company's continuous disclosure filings. Although management believes that the assumptions underlying this forward-looking information are reasonable as of the date of this news release, actual outcomes may differ materially, and readers should not place undue reliance on it. Forward-looking information speaks only as of the date hereof. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information as a result of new information, future events or otherwise.

Schedule 1 – Drillhole Location Details                                                                                 

HOLE ID	Company	East (m)	North (m)	RL (m)	Datum	Depth (m)	Azimu th	Dip	Year	Target
OPCTD-003	OZ	631480.0	9282413.0	305.0	Sirgas2000 22S	200.25	132	-51	2021	Tapuia
OPCTD-011	OZ	631351.0	9282271.5	298.7	Sirgas2000 22S	309.30	131	-56	2024	Tapuia
OPCGD-001	OZ	635985.0	9282158.0	292.0	Sirgas2000 22S	130.30	359	-60	2020	Gueroba

SOURCE Bravo Mining Corp.

Luis Azevedo, Chairman and CEO or Alex Penha, EVP Corporate Development, T: [phone],  [email protected]