# Bravo Reports Results of Pre-Feasibility Study for its Luanga Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90 Original source: https://www.newswire.ca/news-releases/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project-826517320.html Publisher: cnw Original announcement: 2026-09-22T10:31:24.756Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-22T10:38:56.919Z Atlas analysis updated: 2026-09-22T10:38:56.919Z - Company: Bravo Mining Corp. - Ticker: BRVO - Exchange: Unavailable - Region: Pará State, Brazil - Primary commodity: Palladium - Secondary commodities: Platinum, Rhodium, Gold, Nickel, Copper - Document categories: Resource update, Metallurgy, Other - Extracted: 2026-09-22 10:38:57 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Bravo Mining Corp. announced robust Pre-Feasibility Study results for its Luanga Project, featuring an after-tax NPV of US$1.45 billion and an IRR of 35.1%. The study establishes a maiden Mineral Reserve of 86.7 Mt grading 2.77 g/t PdEq, and highlights improved metallurgical recoveries for key metals. The project benefits from a vertically integrated operation with a smelter in a Brazilian Export Processing Zone, offering fiscal advantages and a 10-year mine life. Reasoning: The Pre-Feasibility Study for the Luanga Project demonstrates robust economics with a significant after-tax NPV of US$1.45 billion and an IRR of 35.1%, supported by a maiden Mineral Reserve and improved metallurgical recoveries, indicating a de-risked and viable project with further upside potential. - Positive factor: Robust economics with high after-tax NPV and IRR for the Base Case PFS. - Positive factor: Maiden Mineral Reserve declared, indicating a de-risked project stage. - Positive factor: Significant improvements in metallurgical recoveries for gold and nickel with Jameson Cell technology. - Positive factor: Vertical integration strategy with ZPE benefits reduces costs and captures more value. - Positive factor: Strong cash position to fund future studies and development. - Positive factor: Potential for resource and reserve growth from ongoing infill drilling. - Positive factor: Potential for additional revenue from copper credit, not included in current economics. - Negative factor: Inferred Mineral Resources are not included in the Base Case mine plan, limiting current economic scope. - Negative factor: The Mineral Resource estimate effective date is February 18, 2025, and does not include 22,100m of 2026 drilling, suggesting the resource could be larger. - Negative factor: Platinum recovery slightly decreased compared to the 2025 PEA. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 68 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("concentrator"\) **POX/BIOX Route** Polarity: neutral Definition: Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX. Why it applies: the document describes a pox\_biox route \("roasting"\) ## Extracted facts Stored fact records: 68. Some facts used in scoring do not have a stored record. ## Resource Estimates (68) ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-0) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:16c784e17ce328ab2779 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 17700000 - Grade: 0.95 - Grade Unit: g/t - Contained Metal: 541 - Contained Unit: koz - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.95 Context: 17.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-1) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:16c784e17ce328ab2779 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 17700000 - Grade: 0.82 - Grade Unit: g/t - Contained Metal: 466 - Contained Unit: koz - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for platinum is a significant component of the project's overall metal content and economic viability. - Positive factor: Maiden Proven Reserve declared for platinum, adding to project confidence. Evidence · table > 0.82 Context: 17.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-2) Luanga · rhodium #### Identity - Project: Luanga - Commodity: rhodium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:16c784e17ce328ab2779 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 17700000 - Grade: 0.12 - Grade Unit: g/t - Contained Metal: 70 - Contained Unit: koz - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for rhodium adds to the overall value of the project, despite being a smaller component. - Positive factor: Maiden Proven Reserve declared for rhodium, contributing to the project's PGM basket. Evidence · table > 0.12 Context: 17.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-3) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:16c784e17ce328ab2779 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 17700000 - Grade: 0.08 - Grade Unit: g/t - Contained Metal: 44 - Contained Unit: koz - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for gold adds to the overall value of the project, despite being a smaller component. - Positive factor: Maiden Proven Reserve declared for gold, contributing to the project's PGM basket. Evidence · table > 0.08 Context: 17.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-4) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cc78d72164e7b6f333be - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 17.7 - Grade: 0.95 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.95 Context: 17.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-5) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cc78d72164e7b6f333be - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 17.7 - Grade: 0.82 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.82 Context: 17.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-6) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cc78d72164e7b6f333be - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 17.7 - Grade: 0.08 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.08 Context: 17.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-7) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cc78d72164e7b6f333be - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 17.7 - Grade: 0.1765 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.1765 Context: 17.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-8) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:8f0c31580fce80987cd2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 69 - Grade: 0.93 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.93 Context: 69.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-9) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:8f0c31580fce80987cd2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 69 - Grade: 0.65 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.65 Context: 69.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-10) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:8f0c31580fce80987cd2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 69 - Grade: 0.07 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.07 Context: 69.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-11) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:8f0c31580fce80987cd2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 69 - Grade: 0.1786 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.1786 Context: 69.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-12) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:c0709def194b5938a823 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 86.7 - Grade: 0.93 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.93 Context: 86.7 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-13) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:c0709def194b5938a823 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 86.7 - Grade: 0.68 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.68 Context: 86.7 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-14) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:c0709def194b5938a823 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 86.7 - Grade: 0.07 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.07 Context: 86.7 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-15) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:c0709def194b5938a823 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 86.7 - Grade: 0.1781 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.1781 Context: 86.7 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-16) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:6d41fbd890858b8c5e68 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 4000000 - Grade: 0.9 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.90 Context: 4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-17) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:6d41fbd890858b8c5e68 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 4000000 - Grade: 0.88 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.88 Context: 4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-18) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:6d41fbd890858b8c5e68 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 4000000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.05 Context: 4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-19) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:c379ac092e86411a05c8 - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 32000000 - Grade: 0.97 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.97 Context: 32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-20) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:c379ac092e86411a05c8 - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 32000000 - Grade: 0.67 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.67 Context: 32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-21) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:c379ac092e86411a05c8 - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 32000000 - Grade: 0.04 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.04 Context: 32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-22) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:c379ac092e86411a05c8 - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 32000000 - Grade: 0.11 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.11 Context: 32 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-23) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:b6bb8758dd65f05467c7 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 36000000 - Grade: 0.96 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.96 Context: 36 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-24) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:b6bb8758dd65f05467c7 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 36000000 - Grade: 0.69 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.69 Context: 36 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-25) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:b6bb8758dd65f05467c7 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 36000000 - Grade: 0.04 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.04 Context: 36 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-26) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:b6bb8758dd65f05467c7 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 36000000 - Grade: 0.1 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.10 Context: 36 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-27) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:84de98ea90c4f66c50d1 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6000000 - Grade: 0.97 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.97 Context: 6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-28) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:84de98ea90c4f66c50d1 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6000000 - Grade: 0.73 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.73 Context: 6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-29) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:84de98ea90c4f66c50d1 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6000000 - Grade: 0.04 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.04 Context: 6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-30) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:076efad5fcfddc6fc5bf - Mining method: open\_pit - Material type: High talc - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2000000 - Grade: 1.12 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 1.12 Context: 2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-31) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:076efad5fcfddc6fc5bf - Mining method: open\_pit - Material type: High talc - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2000000 - Grade: 0.54 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.54 Context: 2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-32) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:076efad5fcfddc6fc5bf - Mining method: open\_pit - Material type: High talc - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2000000 - Grade: 0.11 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.11 Context: 2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-33) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:076efad5fcfddc6fc5bf - Mining method: open\_pit - Material type: High talc - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2000000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.13 Context: 2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-34) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:8aba40eb13c54846c3ed - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 113000000 - Grade: 0.99 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.99 Context: 113 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-35) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:8aba40eb13c54846c3ed - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 113000000 - Grade: 0.59 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.59 Context: 113 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-36) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:8aba40eb13c54846c3ed - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 113000000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.05 Context: 113 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-37) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:8aba40eb13c54846c3ed - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 113000000 - Grade: 0.14 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.14 Context: 113 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-38) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cc77e99cfdcbfbbb4bb2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 122000000 - Grade: 0.99 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.99 Context: 122 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-39) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cc77e99cfdcbfbbb4bb2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 122000000 - Grade: 0.59 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.59 Context: 122 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-40) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cc77e99cfdcbfbbb4bb2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 122000000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.05 Context: 122 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-41) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cc77e99cfdcbfbbb4bb2 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 122000000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.13 Context: 122 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-42) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:ae3989396e7acf94f1a0 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 10000000 - Grade: 0.94 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.94 Context: 10 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-43) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:ae3989396e7acf94f1a0 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 10000000 - Grade: 0.79 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.79 Context: 10 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-44) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:ae3989396e7acf94f1a0 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 10000000 - Grade: 0.04 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.04 Context: 10 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-45) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:9f94d4f54ce32bff8d6a - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 145000000 - Grade: 0.98 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.98 Context: 145 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-46) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:9f94d4f54ce32bff8d6a - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 145000000 - Grade: 0.6 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.60 Context: 145 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-47) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:9f94d4f54ce32bff8d6a - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 145000000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.05 Context: 145 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-48) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:9f94d4f54ce32bff8d6a - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 145000000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.13 Context: 145 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-49) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cedeeb5488fd62c5200b - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 158000000 - Grade: 0.98 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.98 Context: 158 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-50) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cedeeb5488fd62c5200b - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 158000000 - Grade: 0.62 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.62 Context: 158 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-51) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cedeeb5488fd62c5200b - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 158000000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.05 Context: 158 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-52) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cedeeb5488fd62c5200b - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 158000000 - Grade: 0.12 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.12 Context: 158 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-53) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cae0547629678803dc46 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 3000000 - Grade: 0.88 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.88 Context: 3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-54) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cae0547629678803dc46 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 3000000 - Grade: 1.04 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 1.04 Context: 3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-55) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cae0547629678803dc46 - Mining method: open\_pit - Material type: oxide - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 3000000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.05 Context: 3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-56) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:ef5f3a9d184895a2ef13 - Mining method: open\_pit - Material type: High talc - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 1.08 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 1.08 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-57) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:ef5f3a9d184895a2ef13 - Mining method: open\_pit - Material type: High talc - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 0.53 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.53 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-58) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:ef5f3a9d184895a2ef13 - Mining method: open\_pit - Material type: High talc - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 0.1 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.10 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-59) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:ef5f3a9d184895a2ef13 - Mining method: open\_pit - Material type: High talc - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 0.14 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.14 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-60) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cd0d74a6e40cc516ee62 - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 75000000 - Grade: 0.97 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.97 Context: 75 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-61) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cd0d74a6e40cc516ee62 - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 75000000 - Grade: 0.58 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.58 Context: 75 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-62) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cd0d74a6e40cc516ee62 - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 75000000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.05 Context: 75 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-63) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:cd0d74a6e40cc516ee62 - Mining method: open\_pit - Material type: fresh - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 75000000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.13 Context: 75 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-64) Luanga · palladium #### Identity - Project: Luanga - Commodity: palladium - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:145a4c9a75df14eaebc5 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 78000000 - Grade: 0.97 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.97 Context: 78 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-65) Luanga · platinum #### Identity - Project: Luanga - Commodity: platinum - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:145a4c9a75df14eaebc5 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 78000000 - Grade: 0.59 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.59 Context: 78 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-66) Luanga · gold #### Identity - Project: Luanga - Commodity: gold - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:145a4c9a75df14eaebc5 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 78000000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.05 Context: 78 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/bravo-reports-results-of-pre-feasibility-study-for-its-luanga-project--2d0ee17c-172a-499e-8ab2-cb8d5da48a90#fact-resource-facts-67) Luanga · nickel #### Identity - Project: Luanga - Commodity: nickel - Region: brazil - Reported Region: Pará State, Brazil - Ticker: BRVO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Porfirio Cabaleiro Rodriguez - Resource group id: resource:145a4c9a75df14eaebc5 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 78000000 - Grade: 0.13 - Grade Unit: % - Cutoff Grade: 0.87 - Cutoff Unit: g/t PdEq #### Prior Estimate - Resource Date: 2026-09-16 #### Metal Equivalent - Metal Eq. Grade: 2.99 - Metal Eq. Unit: g/t PdEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Proven Reserve for palladium contributes significantly to the project's overall economic viability and confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Maiden Proven Reserve declared, indicating high confidence in this portion of the resource. - Positive factor: High contained metal for palladium in the Proven category. Evidence · table > 0.13 Context: 78 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.