REG - Jangada Mines PLC - Company Update

Jangada MinesAnnouncement

26/09/2025 07:00

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RNS Number : 9149A  Jangada Mines PLC  26 September 2025

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

26 September 2025

Jangada Mines plc ('Jangada')

 

Company Update

 

Focussing capital on new gold strategy and fast tracking the Paranaíta Gold
Project

 

Jangada Mines Plc (AIM: JAN), a Brazil focussed natural resource development
company, is pleased to announce that it has sold its entire investment holding
in Blencowe Resources PLC ('Blencowe') to focus its cash resources on the
implementation of its new gold strategy, in particular, the development of the
high grade Paranaíta Gold Project ('Paranaíta' or 'the Project') in Brazil.

 

Following the sale of its Blencowe holding of 21,050,000 Ordinary Shares and
the Company's £800,000 capital raise in August 2025, Jangada is now
well-capitalised to implement its new strategy and accelerate activities at
Paranaíta, where it holds management control. Trenching has commenced, with
samples currently being collected and negotiations with drilling contractors
underway. An update on this will be provided in the coming weeks. The team is
encouraged by analysis of existing project data and is now focused on an
exploration programme to support delivery of a PEA for a high-grade, open-pit
operation targeting annual production of ~20,000 oz Au.

 

Jangada's CEO, Paulo Misk, commented: "We see exceptional value uplift
potential in Paranaíta, which is now our primary focus.  Accordingly,
selling our Blencowe holding allows all our capital to be focussed on
delivering our development objectives in a project where we maintain
management control.  Drilling targeting the shallow TP2 and TP2.3 zones aims
to upgrade the current 210,000 oz Au resource to a targeted ~350,000 oz Au
under JORC reporting, with the immediate goal of delivering a PEA for a
c.20,000 ounce-per-year operation. These are exciting times for Jangada, and I
look forward to providing further updates on our activities towards building a
major, Brazil-focused gold producer and creating long-term value for all
stakeholders."

 

About Paranaíta:

Paranaíta is a 7,211-hectare gold-rich porphyry-epithermal system with
extensive historical data, a record of artisanal mining, and structural
similarities to nearby producing high-grade gold deposits.  To date, 15
primary high-grade gold occurrences have already been identified along an 8 km
east-west mineralised corridor. An internally generated resource estimate
currently stands at approximately 210,000 oz Au grading 3.165 g/t, compliant
with Comissão Brasileira de Recursos e Reservas standards. This is expected
to be readily converted to JORC classification and expanded further with
additional exploration work.

 

More than US$2 million has already been spent on historic exploration that
identified six high-priority zones and yielded excellent results, underscoring
Paranaíta's potential. Samples returned up to 135 g/t Au, drill intercepts
and trenching highlights include 5.0 metres at 5.48 g/t Au and 3.8 metres at
12.5 g/t Au respectively. The alignment of widespread gold mineralisation,
geochemical anomalies, and their correlation with magnetic structures strongly
indicates the potential presence of a large-scale deposit and we are confident
of 1 million oz. Importantly metallurgical test results yielded average
overall gold recovery of 86%.

 

 

ENDS

 

For further information please visit www.jangadamines.com
(http://www.jangadamines.com/)  or contact:

 

 Jangada Mines plc                     Brian McMaster (Chairman)  Tel: +44 (0)20 7317 6629
 Strand Hanson Limited                 Ritchie Balmer             Tel: +44 (0)20 7409 3494

 (Nominated & Financial Adviser)       James Spinney

                                       David Asquith
 Tavira Financial Ltd                  Jonathan Evans             Tel: +44 (0)20 7100 5100

 (Broker)
 Investor Relations                    Hugo de Salis              hugo@lepanto.co.uk

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

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