Molly Gold Project Drilling & Exploration Update

Jangada Mines PLC

17 August 2026

 

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

17 August 2026

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

Molly Gold Project Drilling & Exploration Update

Phase 1 Drilling Completed and Bonanza Gold Grades Reported from New Vivi Target

Jangada Mines plc (AIM: JAN), a Brazil-focused natural resources company, is pleased to report the completion of the Phase 1 drilling programme at the Molly Gold Project ("Molly" or the "Project") and the discovery of bonanza gold grades at the Vivi target. The drilling has now substantially validated historical data from Molly, while Vivi represents a major new target for development. The results highlight the Project's significant potential and represent a major step forward in unlocking a district-scale polymetallic system.

OVERVIEW

·    Drilling has successfully confirmed the historically reported exploration and drilling data, extended the previous mineralisation envelope along strike and down dip, and demonstrated the resources growth potential at Molly 1, which already has an inferred resource of 130,000 ounces of gold (oz Au) at an average grade of 2 g/t.

·    Final Phase 1 drill hole highlights include:

o  Hole 13A: 21.81 g/t Au, 9.50 g/t Ag and 0.67% Cu over 0.5m.

o  Hole 3A: 20.76 g/t Au over 0.5m, 11.50 g/t Au over 0.58 m and 5.75 g/t Au over 0.55m separately.

o  Hole 4A: 1.19 g/t Au over 14.15 m including 8.39 g/t Au, 6.10 g/t Ag, 0.37% Cu over 0.50m; 2.99 g/t Au over 0.95 m; 2.46 g/t Au, 3.00 g/t Ag over 0.66 m and 2.40 g/t Au over 1.00 m.

o  Hole 2B: 7.77 g/t Au over 0.73m.

o  Hole 11A: 3.76 g/t Au, 0.39% Cu over 3.00m (including 5.81 g/t Au over 0.95m).

o  Hole 15A: 1.96 g/t Au, 13.72 g/t Ag and 0.3% Cu over 5.74m.

·    A new style of disseminated mineralisation - discovered with Hole 4A intersecting 14.15m of disseminated gold at 1.19 g/t with a higher-grade core at 8.39 g/t over 0.50m - opens the possibility for low cost, bulk tonnage and open pit mining, which may significantly contribute to its economic attractiveness.

·    Copper mineralisation at Molly 1 has also demonstrated consistently higher grades than those historically reported and re-enforces the multi-commodity potential for the Project.

·    Geological modelling studies underway at Molly 1 to validate and upgrade resource estimates.

·    Vivi Target emerged as a highly prospective target with four rock-chip samples returning exceptionally high-grade values, including up to 306.2 g/t Au, 166.0 g/t Ag, 2.24% Cu, 2.19% Pb, and 1.12% Zn.

·    Rock chip collected along the exposed Vivi 1 quartz vein returned gold grades of 151.23 g/t Au, 49.93 g/t Au, 39.74 g/t Au and copper grades as high as 0.20%.

·    Drilling has confirmed a structurally controlled boudinage-type mineralised system at Molly 2. Highlights include

o  Hole 8A returning multiple mineralised intercepts including 3.50 g/t Au over 0.91m and 2.23 g/t Au over 0.68m, alongside the presence of zinc and copper.

o Hole 7A returning 5,42m at 1.41% Pb with 1.00m at 4.97% Pb, demonstrating an active hydrothermal system. Also, hole 7A returned 0.87m grading 3.11 g/t Au, 30.40 g/t Ag, 0.13% Cu, and 0.24% Pb.

·    A comprehensive 350 line-km Mag-drone survey and a 20.8 line-km ground Induced Polarisation (IP) survey are currently underway across the Project to refine structural interpretations and generate new high-priority drill targets. These geophysics surveys followed by a geological mapping will support further geological interpretation for additional potential resource growth at the Molly targets and additional drilling execution at the most promising targets, including Vivi.

·    With Phase 1 drilling completed the Company remains well financed with over £1million in cash and is fully funded for the next phase of exploration.

Jangada Chief Executive, Paulo Misk, said: "With the completion of Phase 1 drilling, we have confirmed the historical exploration data and extended the mineralisation envelope both along strike and down dip, underlining the substantial growth potential of a resource that already stands at 130,000oz Au. The high-grade intercepts at Molly 1, including 0.50m at 21.81g/t Au at Hole 13A, sit alongside the discovery of a new disseminated mineralisation style at Hole 4A, which opens a credible pathway to low-cost, bulk-tonnage open pit mining, a significant development for the Project's economics.

"We are equally excited by the emergence of Vivi as a compelling new target. Bonanza rock-chip results of up to 306.2g/t Au alongside strong silver, copper, lead and zinc values point to a high-grade system that warrants immediate follow-up. At Molly 2, drilling has confirmed a structurally controlled, boudinage-type mineralised system, with results such as 5.42m at 1.41% Pb pointing to an active hydrothermal system with further discovery potential.

"With geological modelling underway to upgrade our resource estimates, and a substantial regional Mag-drone and ground IP survey now in progress across the Project, we are well placed to generate a strong pipeline of high-priority exploration and will unlock the broader potential of the project. This is a pivotal period for Jangada, and I look forward to updating shareholders as this work progresses."

DETAILS

The Molly Project continues to deliver highly encouraging exploration results underlining the project wide potential with the results from Molly 1, Molly 2 and Vivi targets, located in the southern part of the mining claim (Figure 1), reinforcing its potential as a significant polymetallic mineral system.

Molly 1 Deposit - Confirmation of Historical Data and Continuity

Drilling at Molly 1 has successfully confirmed the findings of historical exploration and the 2,857m drilling campaign has identified a robust, near-surface epithermal gold system, which yielded significant intercepts including 3.0m at 14.4g/t Au, 5.07m at 8.6g/t Au, 6.5m at 10.5g/t Au and 1.0m at 200g/t Au.

The Phase 1 drilling programme has now intersected multiple high-grade intervals across several holes, with results ranging from narrow, exceptionally high-grade veins to broader, more consistent mineralised zones. In essence, the Phase 1 campaign has demonstrated the robustness and continuity of the mineralised system at Molly.

The most significant result came from Hole 4A, which returned a robust intersection of 14.15m of disseminated gold at 1.19 g/t with a higher-grade core at 8.39 g/t over 0.50m. This hole is approximately 150m to the west of Hole 3A, where exceptional results were reported including 0.58m grading 11.50 g/t Au, 21.30 g/t Ag, and 0.47% Cu, as well as a particularly high-grade interval of 0.50m grading 20.76 g/t Au, 6.30 g/t Ag, and 0.58% Cu and another one of 0.55m grading 5.75 g/t Au, 9.00 g/t Ag, and 1.35% Cu.

Additional drilling across the target has returned multiple narrow, high-grade intercepts, consistent with the geology encountered by operating mines in the region. Hole 2B yielded 0.73m grading 7.77 g/t Au, 7.10 g/t Ag, and 0.23% Cu, while Hole 2A returned 0.78 m grading 2.92 g/t Au, 8.20 g/t Ag, and 0.17% Cu. Hole 3B delivered 1.19 m grading 1.97 g/t Au, with a higher-grade sub-interval of 0.66m grading 2.87 g/t Au and 6.20 g/t Ag, as well as an additional 0.89m grading 2.29 g/t Au.

These results provide compelling support for the lateral continuity of the mineralised structure and reinforce the interpretation of a robust, multi-vein hydrothermal system with significant polymetallic potential. The correlation between mineralised intercepts across multiple holes demonstrates that high-grade mineralisation remains open along strike and highlights the potential for additional mineralised shoots within the system.

To validate and confirm the resource estimates of Molly 1, the Company has initiated comprehensive geological modelling studies. The results will provide a solid foundation for future resource growth and potential resource expansion.

The results from the Phase 1 drilling programme at Molly 1 continue to demonstrate the strength and complexity of the mineralised system, with multiple high-grade gold intersections associated with significant silver and copper mineralisation. Importantly, these results are not limited to isolated high-grade occurrences but define a broader polymetallic mineralised system displaying consistent evidence of structural control and continuity.

Molly 1 may represent an important component of a larger hydrothermal mineralised system. When considered alongside Molly 2, Vivi and Boomerang, the results support the potential for a more extensive mineralised system across the Molly Project, warranting further drilling and geological modelling to define its continuity and scale.

Molly 1 - Drill Results Summary (Complete Phase 1 Results)

Hole ID	From (m)	To (m)	Width (m)	Au (g/t)	Ag (g/t)	Cu (%)	Other Metals (%)	Mineralised Intersection
1A	139.61	140.52	0.91	3.04	3.30	0.04	Pb: 0.062 Zn: 0.038	0.91m @ 3.04g/t Au
1B	174.42	175.46	1.04	1.12	11.30	0.56	-	1.04m @ 1.12g/t Au + 11.30g/t Ag + 0.56g/t Cu
2A	138.18	138.96	0.78	2.92	8.20	0.17	Pb: 0.036 Zn: 0.001	0.78m @ 2.92g/t Au + 8.20g/t Ag + 0.17% Cu
2B	158.42	159.15	0.73	7.77	7.10	0.23	Pb: 0.025 Zn: 0.002	0.73m @ 7.77g/t Au + 7.10g/t Ag + 0.23% Cu
3A	103.32	103.90	0.58	11.50	21.30	0.47	Pb: 0.017 Zn: 0.009	0.58m @ 11.50g/t Au + 21.30g/t Ag + 0.47% Cu
3A	124.47	124.97	0.50	20.76	6.30	0.58	Pb: 0.002 Zn: 0.021	0.50m @ 20.76g/t Au + 6.30g/t Ag + 0.58% Cu
3A	131.05	131.60	0.55	5.75	9.00	1.35	Pb: 0.002 Zn: 0.038	0.55m @ 5.75g/t Au + 9.00g/t Ag + 1.35% Cu
3B	22.00	22.50	0.50	1.64	1.40	0.22	Pb: 0.002 Zn: 0.005	0.50m @ 1.64g/t Au + 1.40g/t Ag
3B	24.80	25.53	0.73	1.60	1.30	0.008	Pb: 0.002 Zn: 0.003	0.73m @ 1.60g/t Au + 1.30g/t Ag
3B	62.18	63.85	1.67	1.66	1.14	0.14	Pb: 0.005 Zn: 0.003	1.67m @ 1.67g/t Au + 1.14g/t Ag
3B	118.47	119.66	1.19	1.97	4.15	0.22	Pb: 0.010 Zn: 0.021	1.19m @ 1.97g/t Au + 0.22% Cu (incl. 0.66m @ 2.87g/t Au + 6.20g/t Ag)
3B	126.93	127.82	0.89	2.29	1.60	0.02	Pb: 0.005 Zn: 0.004	0.89m @ 2.29g/t Au + 1.60g/t Ag
4A	96.26	110,41	14.15	1.19	1.18	0.06	Pb: 0.007 Zn: 0.011	14.15m @ 1.19g/t Au including 0.50 m @ 8.39 g/t Au
11A	88.37	89.10	0.73	1.99	-	0.10	-	0.73m@1.99g/t Au
11A	89.60	92.60	3.00	3.76	2.74	0.39	-	3.00m@3.76g/t Au + 0.39% Cu including 0.95m@5.81g/t Au + 0.48% Cu
13A	36.38	37.87	1.49	1.15	0.96	0.06	-	1.49m@1.15g/t Au + 0.96g/t Ag + 0.06% Cu
13A	42.06	42.56	0.50	21.81	9.50	0.67	-	0.50m@21.81g/t Au + 9.50g/t Ag + 0.67% Cu
13A	46.63	47.70	1.07	3.87	2.00	0.10	-	1.07m@3.87g/t Au + 0.10% Cu
13A	49.99	50.50	0.51	2.68	9.80	0.99	-	0.51m@2.68g/t Au + 9.80g/t Ag + 0.99% Cu
13A	51.49	51.99	0.50	4.71	5.60	0.26	-	0.50m@4.71g/t Au + 5.60g/t Ag + 0.26% Cu
13A	52.96	53.96	1.00	1.29	1.20	0.06	-	1.00m@1.29g/t Au
13A	62.07	63.08	1.01	1.52	1.40	0.08	-	1.01m@1.52g/t Au
15A	68.26	74.00	5.74	1.96	13.72	0.39	-	5.74m@1.96g/t Au + 13.72g/t Ag + 0.38% Cu including 1.19m @ 2.73g/t Au + 29.80g/t Ag + 1.08% Cu and 0.60m @ 5.72g/t Au + 38.60g/t Ag + 0.82% Cu

(Note: Widths represent drilled core lengths and do not represent true widths. All assays are uncut.)

The Vivi Target - Exceptional High-Grade Discovery

The Vivi target is situated approximately 800m to the west of the existing Molly 2 deposit and comprises two parallel N290-trending mineralised structures, approximately 100m apart (Figure 1), referred to as Vivi 1 and Vivi 2 (subdivision of Vivi target). Both structures are characterised by quartz veins displaying intense sulphide mineralisation, including pyrite, arsenopyrite, galena, and pyrrhotite (Figure 2 and Figure 3).

Initial results from four rock-chip samples collected from the mineralised quartz veins returned highly significant gold, silver, and base-metal grades. The most exceptional result came from sample V2b at Vivi 2 (Vivi target), which returned an outstanding 306.2 g/t Au, 166.0 g/t Ag, 2.24% Cu, 2.19% Pb, and 1.12% Zn from a 1.8-metre-thick mineralised vein (Figure 4). Results from V1 returned 21.52g/t Au and V2a returned 11.04 g/t Au + 8.3g/t Ag.

Recent rock chip sampling collected along the exposed Vivi (Vivi 1) quartz vein returned outstanding results of 151.23 g/t Au, 49.93 g/t Au, and 39.74 g/t Au. There is substantial evidence that Vivi 1 is a rich polymetallic system due to the high grade also for other base metal such as copper with results of 0.18% Cu, 0.2% Cu, 0.11% Cu, 0.10% Cu, 0.16% Cu; Silver with results of 83.8 g/t Ag, 32.0 g/t Ag, 30.0 g/t Ag and Lead with results of 0.95% Pb, 0.42% Pb, 0.33% Pb, 0.32% Pb as shown in the table below.  Trenching and geochemical sampling have been carried out at the Vivi target as part of the ongoing exploration program, providing additional geological and geochemical information to support target evaluation.

Figure 1 - Vivi target: Vivi 1 and Vivi 2 Mineralised Quartz vein

Vivi - Rock-Chip Sample Results Summary

Sample ID	Target	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)	Description
V1	Vivi	21.52	-	0.25	0.42	0.96	Quartz vein sample
V2a	Vivi	11.04	8.3	-	0.33	-	Quartz vein sample
V2b	Vivi	306.2	166.0	2.24	2.19	1.12	1.8m thick mineralised vein
BGD-30.008	Vivi	0.16	-	0.18	-	-	Quartz vein sample
BGD-30.011	Vivi	0.31	-	0.20	-	-	Quartz vein sample
BGD-30.014	Vivi	151.23	83.8	0.11	0.95	0.02	Quartz vein sample
BGD-30.015	Vivi	1.91	1.9	-	-	-	Quartz vein sample
BGD-30.016	Vivi	49.93	32.0	0.10	0.32	0.03	Quartz vein sample
BGD-30.017	Vivi	39.74	30.0	0.16	0.19	0.03	Quartz vein sample

(Note: All assays are uncut. V2b represents the most exceptional result from a 1.8-metre-thick mineralised quartz vein.)

As the next phase of exploration at Vivi, the Company will commence its maiden drill programme following the completion and interpretation of the ongoing high-resolution drone magnetic (Mag-drone) survey. The survey is expected to identify the key structural controls associated with gold mineralisation and guide the positioning of the initial drill holes to evaluate the target's full exploration potential.

Figure 2 - Vivi Target (Vivi 1)

Figure 3 - Vivi Target (Vivi 1): Rock Sample collected for laboratory analysis

Figure 4 - Vivi Target (Vivi 2), a 1.8-metre-thick mineralised vein

Molly 2 Advanced Target - Confirmation of Boudinage System

Drill holes 5A, 6A, 8A, 9A, and 10A were designed to test the interpreted junction between the Molly 1 and Molly 2 structures. The results confirm a boudinage-type mineralised system, demonstrating that mineralisation remains strongly controlled by structural architecture.

Hole 8A delivered the most notable intercepts, returning 0.91m grading 3.50 g/t Au, 0.68m grading 2.23 g/t Au, 0.79m grading 1.29 g/t Au, 0.89m grading 0.96 g/t Au, and 0.69m grading 0.91 g/t Au. Other holes, such as 5A (0.91m at 1.51 g/t Au) and 6A (0.79m at 0.31 g/t Au, 2.30g/t Ag and 0.13% Cu), intersected narrower zones containing gold with associated copper and zinc mineralisation.

Hole 7A highlights the polymetallic nature of the hydrothermal system, intersecting two mineralised intervals: 0.87 m grading 3.11 g/t Au, 30.40 g/t Ag, 0.13% Cu, and 0.24% Pb; and 5.42 m grading 1.41% Pb (including 1.00 m at 4.97% Pb) and 0.12% Zn.

The presence of gold accompanied by copper and zinc indicates that the hydrothermal system remains active across this area. While these intercepts are narrower than those at Molly 1, they provide crucial geological information regarding the geometry of the system and will add material volume to the overall mineral resource estimate.

Molly 2 - Drill Results Summary (Highlights)

Hole ID	From (m)	To (m)	Width (m)	Au (g/t)	Ag (g/t)	Cu (%)	Other Metals (%)	Mineralised Intersection
5A	48.48	49.39	0.91	1.51	4.00	0.04	Pb:0.019 Zn:0.026	0.91m @1.51g/t Au
6A	105.18	105.97	0.79	0.31	2.30	0.13	-	0.79m @ 0.31g/t Au
7A	71.75	72.62	0.87	3.11	30.40	0.13	Pb:0.242 Zn:0.003	0.87m@3.11g/t Au + 30.40g/t Ag + 0.13% Cu + 0.24% Pb
7A	122.32	127.74	5.42	0.01	1.50	-	Pb:1.41 Zn:0.10	Including 1.00m @ 4.97% Pb
7B	55.00	55.50	0.50	2.13	1.30	0.03	Pb: 0.011 Zn: 0.006	0.50m@2.13g/t Au
7B	103.95	104.45	0.50	1.16	36.00	0.16	Pb:0.259 Zn: 0.110	0.50m@1.16g/t Au +36g/t Ag + 0.16% Cu + 0.26% Pb + 0.11% Zn
8A	25.15	25.94	0.79	1.29	2.70	0.04	Pb:0.009 Zn:0.001	0.79m @ 1.29g/t Au
8A	76.58	77.47	0.89	0.96	2.80	0.02	Pb:0.089 Zn:0.129	0.89m @ 0.96g/t Au + 0.13% Zn
8A	128.71	129.40	0.69	0.91	1.40	0.03	Pb:0.007 Zn:0.009	0.69m @ 0.91g/t Au
8A	140.14	141.05	0.91	3.50	10.70	0.09	Pb:0.020 Zn:0.003	0.91m @ 3.50g/t Au + 10.70 g/t Ag
8A	141.89	142.57	0.68	2.23	3.10	0.02	Pb:0.007 Zn:0.108	0.68m @ 2.23g/t Au + 0.108% Zn

(Note: Widths represent drilled core lengths and do not represent true widths. All assays are uncut.)

Field observations suggest that the mineralisation is structurally controlled and remains open along strike and at depth. The results from the ongoing Mag-drone geophysical survey are expected to identify the most relevant and conducive structures for Au mineralisation at Molly 2.

Exploration Update

Ongoing geological mapping, geochemical sampling, and drilling activities have consistently identified mineralised zones with favourable grades and widths, supporting the exploration model and demonstrating the Project's capacity to host economically significant mineralisation (Figure 5).

A high-resolution geophysical programme at the Project commenced on 1 July 2026. This comprises a 350 line-km drone magnetic (Mag-drone) survey covering the Boomerang, Molly 1, Molly 2, and Vivi targets, together with a 20.8 line-km ground Induced Polarisation (IP) survey over the Molly 2 and Vivi targets. The programme is designed to improve the interpretation of structural controls, delineate mineralised corridors, identify sulphide-related chargeability anomalies, and generate additional high-priority drill targets across the Project area. The geophysical survey and the geological mapping results will support the next phase drilling campaign that will be announced in due course.

The 350 line-km Mag-drone survey is particularly important for the Boomerang target, a multi-kilometre district-scale prospect characterised by a dense concentration of historical artisanal mining pits across its entire extent. These workings represent surface expressions of widespread, high-grade gold mineralisation at depth, and the geophysical data will be instrumental in defining priority drill targets and revealing the full economic potential of this transformational opportunity.

The Company believes the Project has strong potential to host mineralised structures comparable to those identified elsewhere within the Tapajós Gold Belt, including Serabi Gold's producing Coringa mine and Cabral Gold's Cuiu Cuiu project.

Figure 5 - South of the Molly Project showing the targets Molly 1, Molly 2 and Vivi

Qualified Person

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 www.jangadamines.com, follow us on social media, LinkedIn and X: @Jangada Mines Plc, or contact:

Hugo de Salis	Jangada Mines plc	[e-mail]
Ritchie Balmer James Spinney Harry Hiley	Strand Hanson Limited Nominated & Financial Adviser	Tel: [phone]
Jonathan Evans	Tavira Financial Ltd Broker	Tel: [phone]

About Jangada Mines Plc

Jangada Mines Plc (AIM: JAN) is a natural resource development company 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; and 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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