REG - Jangada Mines PLC - Option to Acquire 100% of the Molly Gold Project

Jangada MinesAnnouncement

09/02/2026 07:00

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RNS Number : 1208S  Jangada Mines PLC  09 February 2026

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

9 February 2026

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

 

Option to Acquire 100% of the Molly Gold Project, Tapajós, Brazil

 

Building a high-grade gold portfolio in Brazil

 

Jangada Mines Plc (AIM: JAN), a Brazil focused natural resource development
company, is pleased to announce that it has signed a letter of intent ('LOI')
with BGold Mineração Ltda ("BGold") (the "Vendor"), pursuant to which
Jangada has been granted the right to earn an exclusive option to acquire 100%
of the high grade Molly Gold Project (the "Molly Project", "Molly" or the
"Project") located in the Tapajós region of Pará State, Brazil.  Entering
into the LOI is part of the Company's strategy of establishing Jangada as a
leading developer of high-quality gold assets across Brazil through the
targeting of advanced, data-rich gold mining projects offering scalability and
near-term revaluation potential.

 

OVERVIEW

·    LOI to acquire 100% of the 6,656.2 hectares high grade Molly Gold
Project in Brazil

·    Over 2,800m of historical drilling completed with intercepts
including:

o  3.0m @14.4g/t

o  6.5m @ 10.5g/t

o  5.07m @ 8.6 g/t and

o  1.0m @ 200.0 g/t

·    Initial JORC (2004) Inferred resource of 130,000 oz Au from 2.1Mt @
2g/t, independently estimated in 2010

·    Identified gold mineralisation extends from near surface to depths of
c.150m and over a c.400m strike length

·    Data indicates that the identified mineralisation, where the initial
resource is located, represents a small part of a much larger system

·    Mapping and geophysics indicate that the mineralised structure
continues for at least 500m west of the current drilling, beyond the defined
400m resource strike length

·    Acquisition comprises structured staged cash and shares payment based
on work commitments aligned with exploration success, together with a Net
Smelter Royalty ('NSR')

 

Jangada Mines CEO Paulo Misk said, "The Molly Project represents a high-grade,
shallow gold project in a prime gold region that aligns strongly with our
investment and development criteria. With an initial JORC resource of 130,000
ounces of gold, outstanding high-grade intercepts from drilling including 6.5m
at 10.5 g/t and 1m at 200 g/t and clearly identified expansion potential,
Molly is an excellent addition to our portfolio.

 

"Having signed the LOI, we intend to engage drilling contractors immediately
to undertake a low-cost, high impact, 2,000m drill programme to test
extensions at the initial Molly 1 target, which will generate additional
targets and provide the basis for the next phase of exploration.  The deal
structure importantly provides us with a stage-gated and highly cost-effective
framework to gain control of a gold asset with fantastic potential.

 

"We also expect our first phase drill results from Paranaíta later this
month, which will be used to update the resource estimate and better quantify
that project's potential.

 

"Our team's deep knowledge of Brazil continues to be instrumental in
identifying projects that can be advanced rapidly and we are focussed on
building a substantial, multi-project company, growing resource ounces and
establishing a production profile that delivers long-term value for all
stakeholders."

 

DETAILS

 

The Molly Gold Project ('Molly' or 'the Project')

The 6,656.2 hectares Molly Gold Project is located in the Tapajós Gold
Province of Pará State, northern Brazil, a globally recognised gold district
hosting several multi-million-ounce deposits, including Gold Mining São Jorge
Project, Tristar Castelo dos Sonhos Project, Serabi Gold's Palito Mine and G
Mining Ventures' Tocantinzinho Mine.  With estimated historical production of
up to 30 million alluvial ounces, the province remains underexplored for
large-scale hard-rock gold systems.

 

Molly lies within a proven corridor of hard-rock gold mineralisation that
demonstrates the district's capacity to host large, economically viable
deposits. The primary target is Molly 1, where high-grade quartz veins were
historically mined to depths of up to 30m. Geologically, it is hosted within
Paleoproterozoic Parauari granites, a recognised host for major gold deposits
in the Tapajós. A dominant east-west-striking quartz vein, ranging from 0.5m
to 3m in width, forms the high-grade core of the system. This is surrounded by
a classic epithermal alteration halo, including potassic, phyllic, and
argillic assemblages, which significantly expands the overall exploration
target.

 

A 2,857m 19 hole diamond drilling programme tested the down-dip extensions of
the quartz vein system beneath historical artisanal workings and intersected
high-grade, hydrothermally brecciated, sulphide-rich quartz veins, confirming
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.

 

A JORC-compliant Inferred Mineral Resource of approximately 130,000 ounces of
gold has been defined using a 0.5 g/t Au cut-off, providing a solid foundation
for future growth. This initial resource, estimated in 2010 by Geosure
Exploration & Mining Solutions Pty Ltd. provides a credible starting point
and confirms the technical validity of the Project, while leaving considerable
scope for future upgrades and expansion.

 

Source: Independent technical report on Sao Domingos gold project, prepared 15 October 2013, by Geosure Exploration & Mining Solutions Pty Ltd. The Mineral Resource Estimate was prepared by Mr. Michael Montgomery of Geosure Exploration & Mining Solutions Pty Ltd, a Competent Person as defined by the JORC Code (2004 Edition).

 

Geophysical data indicates that the identified mineralisation where the
initial resource is located represents only part of a much larger system, with
a well-defined structural corridor extending more than 500m to the west. This
highlights strong potential for significant resource expansion.

 

Assay results from drilling validate the high-grade nature of the system.
Statistical analysis of 180 mineralised samples returned a maximum raw value
of 32.99 g/t gold, demonstrating the presence of locally very high-grade zones
within the broader mineralised structure. These results support the potential
for both grade and tonnage growth with further drilling.

 

A three-dimensional geological and mineralisation model shows that gold
mineralisation extends from near surface to depths of approximately 150m over
a strike length of around 400m. The system remains open both at depth and
along strike, particularly to the west, where drilling has not yet tested the
interpreted continuation of the structure.

 

 

Ground-based spectral induced polarisation (IP) and magnetic surveys have
revealed a strong structural trend linking the Molly 1 prospect with the Molly
2 area to the west. Interpretation of these geophysical anomalies suggests
that both areas form part of the same mineralised system, offset by later
faulting. This significantly increases the size of the exploration target and
supports a district-scale geological model.

 

Mapping and geophysics indicate that the mineralised structure continues for
at least 500m west of the current drilling, beyond the defined 400m resource
strike length. This untested extension has the potential to more than double
the strike extent of known mineralisation, representing a major opportunity
for resource growth.

 

The Phase 1 work will focus on step-out drilling to test the western extension
identified by geophysics, alongside infill drilling to upgrade the existing
Inferred Resource to the Indicated category. Phase 2 aims to define a
multi-pit operation, including initial drilling at the Molly 2 prospect,
metallurgical test work, and preliminary economic assessments. The Company is
funded for both programmes.

 

TRANSACTION DETAILS

Jangada has signed an LOI for an exclusive option with BGold to acquire a 100%
interest in the Molly Project. The option terms comprise 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.

 

Initial Drilling Obligation and Option Right:

Within three (3) months of signing the LOI, Jangada shall complete a minimum
of 2,000m of diamond drilling on the Project (the "Initial Program"). Upon
timely completion of the Initial Program, Jangada shall have the exclusive
right to enter into the Option on the terms set out below (the "Option
Terms"), subject to the parties entering into a definitive agreement at that
time, but which is expected to be based on the commercial terms outlined
below.

 

Summary of Option Terms:

On execution of definitive agreements:

·    Cash payment of US$100,000 to BGold

·    Issuance of US$250,000 in Jangada shares, priced at the closing
market price on acceptance of the LOI, and subject to an escrow period to be
agreed

·    Commitment to complete a further 2,500 metres of drilling within 12
months

On first anniversary of signing definitive agreements:

·    Cash payment of US$150,000

·    Issuance of US$500,000 in Jangada shares, priced at the then
prevailing market price (or cash at Jangada's discretion)

·    Completion of an additional 10,000 metres of drilling over the
following 12 months and delivery of either:

o  An updated JORC-compliant Mineral Resource Estimate, or

o  a Preliminary Economic Assessment (PEA)

Resource-based consideration:

·    Payment of US$5.00 per ounce of total defined Indicated Resources
(JORC or NI 43-101 equivalent), payable 50% in cash and 50% in shares

·    The same per-ounce payment applies to any future resource updates

·    Upon payment, the Project will be transferred to a wholly owned
subsidiary of Jangada

Royalty:

·    BGold will retain a 2.0% NSR on future production

NSR advance:

·    If commercial production has not commenced within five years of
signing definitive agreements, Jangada will pay an annual NSR advance of
US$100,000, creditable against future royalty payments

 

Related Party Transaction

Luis Azevedo, a director of the Company is a 100 per cent. Shareholder in
BGold. Accordingly, the Company entering into the LOI and the Initial Program
commitment, is deemed to be a related party transaction pursuant to the AIM
Rules, The Directors, other than Luis Azevedo, consider, having consulted with
the Company's Nominated Adviser, that the terms of such arrangements are fair
and reasonable in so far as Shareholders are concerned.

 

Next Steps

Jangada intends to commence the Initial Program immediately. Alongside, the
parties will work to finalise and execute definitive documentation consistent
with the LOI, subject to customary regulatory approvals as needed.

 

**ENDS**

 

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

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

                 Broker

 

About Jangada Mines Plc

Jangada Mines Plc (AIM: JAN) is a Brazil-focused natural resource development
company advancing a portfolio of gold and critical mineral assets. While its
initial focus is on its principal asset, the highly prospective Paranaíta
Gold Project in Mato Grosso, Jangada aims to develop a pipeline of mechanised,
medium-scale gold operations across Brazil, targeting safe, efficient, and
scalable production growth. The Company also holds interests in the
Pitombeiras Vanadium-Titanium-Iron Project in Brazil and an equity stake and
South American rights in Fodere Titanium, a UK-based zero-waste metal recovery
technology company.

 

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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