REG - Jangada Mines PLC - Molly Gold Project Drilling Update

Jangada MinesAnnouncement

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RNS Number : 5915Y  Jangada Mines PLC  30 March 2026

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

30 March 2026

Jangada Mines plc ('Jangada' or 'the Company')

 

Molly Gold Project Drilling Update

 

Advancing Towards Resource Growth in a Prime Gold Jurisdiction

 

Jangada Mines plc (AIM: JAN), a Brazil-focused natural resource development
company, is pleased to announce a positive update on the ongoing diamond
drilling campaign at the Molly Gold Project ('Molly' or the Project') in the
Tapajós Gold Province of Pará State in Brazil.

 

Overview:

·    13 holes drilled for a total of 2,076 metres primarily targeting the
high-grade Molly 1 & 2 targets

·    Highly encouraging indications from step-out drilling has reinforced
district-scale prospectivity

·    All holes drilled contained quartz vein and/or disseminated
sulphides, the host for gold in this style of mineralisation

·    44 samples sent to labs with assay results expected mid-April

·    Expectation remains to materially build on existing JORC resource of
130k oz Au

·    Minimum drilling requirements of 2,000 metres successfully met,
Company to exercise option to acquire 100% of the 6,656.2-hectare project

·    Completion of Phase 1 drilling expected early April, Phase 2 of
drilling and geological work to commence shortly thereafter

·    Fully funded for the next phase of exploration

 

Paulo Misk, CEO of Jangada Mines, commented: "We are delighted with the
initial findings of the drill campaign at Molly, where every hole has
intersected quartz veining and/or disseminated sulphides, the characteristic
host for gold in this style of mineralised system. The Molly 2 target has
returned the correct geological signatures, indicating continuity of
mineralisation and highlighting the potential to significantly grow the
130,000 oz JORC resource in the near term."

 

"With all holes returning encouraging geological signatures and intersections,
we believe there is a clear pathway to expanding the resource through
continued drilling. If the geology and grades continue to deliver, the project
has the potential to evolve into a much larger gold system, underpinned by
multiple targets and broader district-scale prospectivity."

 

"We are excited by the progress made and look forward to maintaining strong
news flow in the coming weeks as assay results are received and the next fully
funded phase of exploration gets underway."

 

Drilling Campaign:

The campaign at Molly focused on infill drilling at the highly prospective
Molly 1 target to upgrade the historic JORC 130,000 oz Au Inferred Resource.
Step-out drilling was also undertaken to the west, including the Molly 2
target, as well as to the east, with early indications suggesting substantial
extensions in both directions.

 

To date 13 holes have been drilled for a total of 2,076 metres, with hole
depths ranging from 150-250 metres. Due to positive core retrieved, the
programme has been widened to approximately 2,480 metres, exceeding initial
plans by 480 metres. Importantly and highly encouragingly, all holes drilled
to date contained quartz vein and/or disseminated sulphides. Furthermore, the
drilling of the western extension and Molly 2 delivered highly encouraging
geological indicators and intercepts of massive sulphides, reinforcing
confidence in the scale and quality of the mineralised system. The balance of
the Phase 1 drilling campaign is expected to be completed in the first week of
April.  Given positive results the Board has decided to execute the exercise
of its option to acquire the Project (see below).

 

Figure 1: Drill holes for the current campaign extending to the Molly 2 target

 

A total of 44 samples have been submitted for assay, with results expected in
mid-April. These results will provide critical insight into the mineral
composition of the project, potentially building significantly on the initial
declared JORC inferred resource of 130k oz Au from 2.1Mt @ 2g/t at a 0.5 g/t
cutoff and guide the Company in its next phase of drilling.  The intention is
to publish an updated resource number as soon as possible.

 

Underscoring the potential of the system, the historic 2,857 metre 19-hole
diamond drilling programme has previously confirmed the presence of a robust
high-grade, near-surface epithermal primary gold system at shallow depths:
Grades included 3.0m @ 14.4g/t, 5.07m @ 8.6g/t, 6.5m @ 10.5g/t and 1m @ 200
g/t.

 

Project Development:

Once all the drill results have been returned and evaluated, the Company will
immediately plan and execute extensive exploration work to further ascertain
the potential of the immediate Molly 1&2 target zones and quantify the
extent of this mineralised structure as well as the wider licence. The
medium-term aim is to define a multi-pit operation with work including further
drilling at the Molly 2 prospect, metallurgical test work, and preliminary
economic assessments. The Company is funded for these programmes.

In May, the Company aims to initiate further mapping, geophysical, geochemical
studies and trenching at selected targets. Geophysical work is currently
anticipated to be completed up to September 2026 and will play a key role in
identifying new drill targets across the broader area, including the Boomerang
zone.  Boomerang is an area north of Molly 1 where extensive garimpeiros work
has been conducted.  The extent of the workings highlights the potential of
an enlarged mineralised system either below or within the elevated higher
ground either side of the workings area.

Figure 2: Molly 1&2, east and west area of interest and the Boomerang area

 

The Company remains well funded to complete the next stage of its exploration
activities.  Overall, the Board believes there is a clear pathway to growing
the resource through continued drilling and exploration. If the geology
continues to deliver positive results, the project has the potential to evolve
into a much larger gold system, supported by multiple targets and broader
district-scale potential.

 

BGold Acquisition Option:

As per the initial agreement announced on 9 February 2026 an exclusive option
was signed with BGold to acquire a 100% interest in the Molly Project. The
option terms comprised staged initial cash and share payments, together with
work commitments, aligned with exploration success, with additional
consideration payable in cash and shares upon the definition of mineral
resources. The Vendor will retain a 2.0% 'NSR royalty, with any NSR advance
deferred if production is delayed. Jangada will act as operator during the
option period and will fund all exploration and development activities.

 

The initial drilling obligation and option right terms have now been
fulfilled, being the completion of a minimum of 2,000 metres of diamond
drilling on the Project. Accordingly, a definitive agreement is being
finalised and subject to the necessary AIM regulatory approvals being obtained
to enter into it on the terms intended, it will involve an initial cash
payment of US$100,000 to BGold and the issuance of US$250,000 in Jangada
shares. Any shares issued to the vendor will be subject to a 1-year hard lock
up from the date of issuance. Further announcements will be made as and when
appropriate.

 

Qualified Person Signoff:

The resource information in this announcement has been reviewed by Mr. Emerson
Ricardo Re who is a senior professional geologist with 25 years of experience
in the mining industry, which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he has
undertaken to qualify as a Competent Person as defined in the 2012 edition of
the JORC Code. Mr. Re also meets the requirements of a competent person under
the AIM Note for Mining, Oil and Gas Companies. Mr. Re has no economic,
financial or pecuniary interest in the Company, and he consents to the
inclusion in this document of the matters based on his technical information
in the form and context in which it appears.

 

**ENDS**

 

For further information, please visit http://www.jangadamines.com, follow us
on social media (LinkedIn and X: @Jangada Mines Plc or contact:

 

  Hugo de Salis   Jangada Mines plc                   hugo@lepanto.co.uk

 Ritchie Balmer   Strand Hanson Limited               Tel: +44 (0)20 7409 3494

 James Spinney    Nominated & Financial Adviser

 Harry Hiley
 Jonathan Evans   Tavira Financial Ltd                Tel: +44 (0)20 7100 5100

                  Broker

 

About Jangada Mines Plc

Jangada is a natural resource development company listed on AIM of the London
Stock Exchange (AIM:JAN) with assets in Brazil. It is led by a team with deep
industry, financial and in-country experience, and has a dual growth strategy
to:

·    Advance its portfolio projects including the high-grade Molly Gold
Project, the Paranaíta Gold Project and the 100%-owned Pitombeiras vanadium
titanomagnetite Project

·    Utilise its proven in-country and geological expertise to
identify/acquire additional projects that it can rapidly advance to build
value for shareholders.

 

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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