REG - Jangada Mines PLC - £1.2 million Fundraise and TVR

Jangada MinesAnnouncement

11/02/2026 07:00

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RNS Number : 5002S  Jangada Mines PLC  11 February 2026

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

11 February 2026

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

 

£1.2m Fundraise and TVR

 

Investing in the development of the high grade, shallow, Molly and Paranaíta
Gold Projects

 in Brazil

 

Jangada Mines Plc (AIM: JAN), a Brazil focused natural resource development
company, is pleased to announce that it has raised, in aggregate, £1,200,000
before expenses (the "Fundraising") at a price of 1.4 pence ("Issue Price")
per new Ordinary Share issued, reflecting strong investor demand, as the
Company looks to advance the exploration and development of the Molly Gold
Project ("Molly") and Paranaíta Gold Project ("Paranaita") in Brazil.

 

The Fundraising consisted of a placing of £1.1m through the issue of
78,571,424 new Ordinary Shares ("Placing") by its broker, Tavira Financial
Ltd, and a cash subscription of £100,000 with Brian McMaster, Executive
Chairman of the Company, through the issue of 7,142,857 new Ordinary Shares
("Subscription"). In aggregate, the Company shall issue 85,714,281 new
Ordinary Shares (the "Fundraise Shares"). The Company shall issue one warrant
for every Fundraise Share, exercisable at 2.25 pence for two years from
Admission.

 

Use of Funds Overview

·    Proceeds will fund drilling and exploration work at the Molly Gold
Project and further exploration at the Paranaíta Gold Project, both in Brazil

o  Jangada recently signed a LOI to earn the option to purchase 100% of the
high-grade shallow Molly Gold Project subject to it completing a high impact
2,000m drill programme, which is to be executed immediately

o  Exploration results at Paranaíta reinforced confidence in achieving the
objective of defining a shallow open-pit mining opportunity

·    Board continues to look for value accretive projects where it can
utilise its in country expertise to acquire projects in similar structure to
Molly and Paranaíta, specifically low up-front cost and stage-gated, results
driven, funding requirements.

 

Jangada Mines CEO Paulo Misk said, "We are delighted with the strong investor
support for the oversubscribed Placing following the recent news on the
potential acquisition of the high-grade Molly Gold Project in Brazil and
exploration results from Paranaíta. We are now looking to advance two gold
projects in Brazil where exploration, through additional drilling and
geophysics, will allow us to fully ascertain their true potential.
Importantly, both are shallow, high grade data rich projects located in
premium gold districts with the potential for low-cost development.

 

"The funds raised will be allocated across both projects generating strong
news flow. At Molly, the Company aims to validate and build upon the existing
dataset, which includes a JORC (2004) resource estimate of 130,000 oz Au.
Outstanding high-grade drill intercepts, including 6.5 metres at 10.5 g/t Au
and 1 metre at 200 g/t Au, together with clear expansion potential, make Molly
a compelling addition to our portfolio. Supported by the current favourable
gold market conditions, initial results from Paranaíta, which currently hosts
a resource estimate of 210,000 oz Au, reinforce our confidence in achieving
the objective of defining a shallow open-pit mining opportunity at the
Paranaíta Project.

 

"We were delighted that our Chairman participated in the Fundraising as I
believe it demonstrates the confidence in both our portfolio and strategy, as
we continue to strive to achieve our objective of building a substantial,
multi-project company, growing resource ounces and establishing a production
profile that delivers long-term value for all stakeholders."

 

DETAILS

 

Background to and Reasons for the Fundraising

Jangada is a gold-focused resource development company pursuing the
establishment of a leading portfolio of high-quality gold assets across
Brazil, targeting advanced, data-rich projects with strong scalability and
near-term re-rating potential. The Company aggressively advances its assets
through low-cost exploration and technical excellence, operating a model that
prioritises minimal upfront acquisition costs, directs capital into the
ground, and links acquisition consideration to exploration success through a
combination of equity and cash.  In line with this and following the
announcement of the structured Molly Gold Project potential acquisition on
9(th) February 2026, the Company is now advancing two gold projects in
parallel.

 

The Molly Project located in the Tapajós region of Pará State, Brazil
represents a high-grade, shallow gold project in a prime gold region that
aligns strongly with the Company's investment and development criteria. It has
outstanding high-grade intercepts from historic drilling, including 6.5m at
10.5 g/t and 1m at 200 g/t, and an initial JORC resource of 130,000 ounces of
gold.  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 and 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 through exploration.

 

The Paranaíta Gold Project, located in Brazil's historically significant Alta
Floresta-Juruena Gold Province is currently under exploration.  The trenching
programme returned encouraging gold results and, when combined with historical
artisanal mining and previous data, confirmed a NE-SW trending mineralised
structure extending over 800m of strike and up to 100m in depth at the TP-02
target. Trenching delivered grades of up to 3.1 g/t Au with continuous
intervals of up to 20m, with additional results up to 4.3 g/t Au at TR-JG-05A
and TR-JG-05B. At the TP-3.2 target, soil sampling produced grades up to 6.4
g/t Au and continuous mineralised intervals of up to 32m, supported by further
anomalous results across multiple trench areas.

 

The drilling programme at Paranaíta is focused on expanding the current
210,000 oz Au resource to approximately 350,000 oz Au under the JORC Code
across an 8km mineralised corridor hosting multiple high-grade occurrences. A
total of 1,100m of drilling has been completed, with initial results
confirming trenching outcomes and intersecting multiple mineralised zones at
TP-02. Remaining assay results are expected shortly, after which geological
modelling and follow-up drilling will be planned to support resource expansion
and advance the definition of a scalable, shallow open-pit development
opportunity at Paranaíta.

 

The Company maintains its active project acquisition strategy to build a
portfolio of shallow, high grade data rich projects located in premium gold
districts with the potential for low-cost development. and continues to
evaluate opportunities that fit within its investment criteria.

 

Use of Proceeds

The funds raised will be used to fund drilling, geophysical and geological
studies at the Molly Gold Project, further exploration at the Paranaíta Gold
Project and for working capital purposes.

 

At Molly, as part of earning the right to the option to acquire it, the
Company has committed to undertake a low-cost, high impact, 2,000m drill
programme.  The work will focus on step-out drilling to test the western
extension identified by geophysics, alongside infill drilling to upgrade the
existing Inferred Resource of 130,000 oz Au to the Indicated category at the
Molly 1 target area (see announcement dated 9(th) February 2026). Phase 2 aims
to define a multi-pit operation, including initial drilling at the Molly 2
prospect, metallurgical test work, and preliminary economic assessments.

 

At Paranaíta assay results from the remaining drill holes are expected later
this month. Upon receipt, the Company will work with GE21 to complete detailed
geological modelling and determine the next phase of resource delineation,
including the planning of further drilling aimed at expanding the current
inferred resource of 210,000 oz Au and converting it to JORC classification.
Additionally, the Company aims to test multiple mineralised structures with
open drill targets in all directions and along the 8km mineralise corridor.

 

In tandem with exploration studies, which are expected to generate significant
news flow, the Company continues to evaluate additional opportunities, and the
funds raised will also be utilised to execute this process.

 

Details of the Fundraising

The Company has conditionally raised gross proceeds of £1,100,000 through a
placing of 78,571,424 new Ordinary Shares at a price of 1.4 pence per
Fundraise Share.  In addition, Executive Chairman Brian McMaster has
subscribed directly with the Company for a further 7,142,857 Fundraise Shares,
representing c. 8% of the Fundraising.

 

In addition, participants in the Fundraising will be issued with one warrant
for every one Fundraise Share subscribed for.  Each warrant will entitle the
holder to subscribe for one new Ordinary Share at an exercise price of 2.25
pence per new Ordinary Share and will be exercisable for a period of two years
from the date of admission of the Fundraise Shares ("Fundraise Warrants"). If
exercised in full, the Fundraise Warrants would result in the issue of a
further 78,571,424 new Ordinary Shares and raise additional gross proceeds of
approximately £1.9m.

 

The Fundraise Warrants will be unlisted and will be issued pursuant to a
warrant instrument to be entered into by the Company and investors in the
Fundraise.

 

In addition, the Company will issue warrants over 4,714,285 new Ordinary
Shares to the Company's brokers ("Broker Warrants"). The Broker Warrants will
be exercisable for a period of two years from the date of admission of the
Fundraise Shares with an exercise price of 1.4 pence per new Ordinary Share
("Broker Warrants").

 

The Fundraise Shares, when issued, will rank pari passu in all respects with
the existing Ordinary Shares. Application will be made for the Fundraise
Shares to be admitted to trading on AIM. Admission for 85,714,281 new Ordinary
Shares is expected to take place at 8.00 a.m. on 17 February 2026. The
Fundraising is conditional, inter alia, upon Admission becoming effective.

 

Related Party Transaction

The participation by Brian McMaster in the Fundraising is deemed a related
party transaction pursuant to the AIM Rules, The Directors, other than Brian
McMaster, consider, having consulted with the Company's Nominated Adviser,
Strand Hanson Limited, that the terms of his participation are fair and
reasonable in so far as Shareholders are concerned.

 

Total Voting Rights

Following Admission of the Fundraise Shares, the Company's issued ordinary
share capital will comprise 800,030,600 Ordinary Shares. There are no ordinary
shares held in treasury. Accordingly, the total number of voting rights in the
Company will be 800,030,600 and this figure may be used by shareholders as the
denominator for the purposes of determining whether they are required to
notify an interest in, or a change to their interest in, the Company under the
Disclosure Guidance and Transparency Rules.

 

**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

 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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