Molly Gold Project - Phase 2 Drilling Commencement

Jangada Mines PLC

08 June 2026

 

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

8 June 2026

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

Molly Gold Project, Brazil - Commencement of Phase 2 Drilling

Jangada Mines plc (AIM: JAN), a Brazil-focused natural resources company, is pleased to announce the commencement of its fully funded Phase 2 drilling programme at its Molly Gold Project ("Molly" or "the Project") in Brazil, following recent positive drill results highlighting the Project's potential.

OVERVIEW

·    10-hole diamond drilling programme totalling approximately 1,100 metres to test high-grade mineralisation at Molly 1 and evaluate the western and southern extensions of the newly discovered Molly 2 mineralised corridor.

·    350 line-km Mag-drone survey to provide detailed structural and lithological information across the project area including the multi kilometre Boomerang, Molly 1, Molly 2, and Vivi targets.

·    20.8 line-km ground IP survey over the Molly 2 and Vivi targets to identify sulphide-bearing zones and extensions of the known mineralised systems.

·    An 8-hole diamond drilling programme, totalling approximately 1,400 metres, to be undertaken following the Mag-drone and IP surveys, testing the potential anomalies identified by the geophysics survey at Vivi and Molly 2, as well as the deep mineralisation at Molly 1 and the western and southern extensions of the Molly 2 mineralised corridor.

·    Exploration programme designed to refine geological models, expand known mineralised zones, and generate new targets in wider licence area.

·    Phase 2 exploration programme fully funded - cash position as of 1^st June c.US$2million.

Jangada Chief Executive, Paulo Misk, said: "We believe the Molly Gold Project has huge potential.  The recent drilling has already highlighted the potential of Molly 1 to materially increase its existing 130,000 oz Au JORC [2012] resource. It also leads to a new discovery at Molly 2, as well as identifying structural extensions. Accordingly, we are accelerating the quantification of these primary targets with the Phase 2 programme.

 Beyond Molly 1 and 2, exploration data has reaffirmed the prospectivity across the broader license area, whilst the scale of artisanal activity, including the multi kilometre Boomerang target, and the prognosis that the source gold for alluvial workings is within the licence area, makes Molly very exciting.

"This next phase of exploration has been designed to refine our geological models, expand the known high grade narrow vein mineralised zones, and generate new drill targets through the integration of high-resolution geophysical surveys and focused diamond drilling programmes. This programme is expected to significantly enhance the understanding of the structural framework controlling gold mineralisation and support future resource growth opportunities across the Molly Project.

As announced last week, work is also underway at our Paranaita gold project. I look forward to providing updates over the coming weeks across both licences, having now addressed previous bottlenecks which had impacted the timing of exploration results.

Exploration Programme:

The exploration programme is designed to enhance the understanding of the structural framework controlling gold mineralisation, advance priority targets both confirmed and identified by recent field studies and drilling, and build on the current JORC [2012] resource of 130,000 oz Au from 2.1Mt @ 2g/t at a 0.5 g/t cutoff. It is funded from existing cash of c.US$2million.

A c.1,100 metre 10-hole diamond drilling programme (Figure 1), has now commenced. At the Molly 1 target, drilling will focus on the eastern portion of the mineralised system to evaluate the continuity and geological controls of high-grade gold intercepts identified in our recent 2,076 metre programme as well as previous drilling campaigns (an additional 2,800 metres has been conducted on the licence historically). At the Molly 2 target, drilling will be directed toward the western and southern extensions of the defined mineralised zones, with the objective of testing the lateral and down-plunge continuity of the system.

Figure 1: Molly drilling programme

A 350 line-kilometres high-resolution drone magnetic survey (Mag-drone) is planned across the project area. Survey lines will be flown at 100-metre spacing and will cover the Boomerang, Molly 1, Molly 2, and Vivi targets. It is intended to refine the interpretation of regional and local structural controls, identify potential mineralised corridors, and support the generation of additional drill targets and resource definition.

In addition, a ground Induced Polarization (IP) survey totalling approximately 20.8 line-kilometres is planned over the Molly 2 and Vivi targets, with survey lines spaced at 100 metres. The programme is designed to identify chargeability anomalies potentially associated with sulphide mineralisation, hydrothermal alteration zones, and extensions of known mineralised structures at depth. Figure 2 below presents the boundaries and coverage of the proposed geophysical survey programs across the Molly Project area.

Figure 2: Molly Project boundaries showing the geophysical polygon.

The results from the planned geophysical and drilling programmes will be integrated into the geological model and are expected to contribute significantly to target refinement, resource expansion and the overall evaluation of the Molly Project.

Following the Mag-drone and IP survey, an 8-hole diamond drilling programme totalling approximately 1,400 metres will be located to test anomalies identified at Vivi and Molly 2 targets and also the deep mineralisation at Molly 1 and the western and southern extensions of the Molly 2 mineralised corridor. 

Summary

The planned exploration programme at Molly represents an important step toward advancing the understanding of the geological controls on gold mineralisation and unlocking the broader potential of the asset. Through the integration of high-resolution geophysical surveys and targeted diamond drilling, the Company aims to refine existing geological models, expand known mineralised zones, and generate new exploration targets. The proposed work programmes are expected to enhance project-scale interpretation and support the continued growth of the Company's gold exploration portfolio as it looks to build a producing entity.

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 announcement of the matters based on his technical information in the form and context in which it appears.

INSIDE INFORMATION

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon publication of this announcement, this inside information is now considered to be in the public domain.

**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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