Investee Company Update

Jangada Mines plc (AIM: JAN), a Brazil-focused natural resources company, is pleased to announce that it has received a positive shareholder update from one of its investee companies, Fodere Titanium Limited ("Fodere"), in which Jangada holds a 7.8% equity interest following its c.£1 million investment in 2021. In addition, Jangada has received notification from Axies Ventures Limited of its intention to pursue an IPO, in which the Company holds a 4.4% equity interest.

Both investments now have the potential to generate significant near-medium term capital release opportunities for Jangada, supplementing the Company's existing cash position in excess of £1 million.

Fodere Update Overview:

The update highlighted progress across Fodere's development programme, engineering activities, technology platform and funding strategy, including a potential IPO. The company, now renamed Fodere Critical Minerals to reflect the broader applications of its technology and market potential, has refocused its near-term strategy on the United States, where a proposed pre-commercial plant in Mississippi is central to its development plans. The move is expected to improve access to capital, strategic partners and US government support, while South Africa remains part of the longer-term strategy.

Key developments include:

• Mississippi plant: Designed to demonstrate the Fodere process at commercially relevant scale and establish the technical and economic basis for larger projects.
• Tronox MOU: Signed for proposed feedstock from Tronox's Hamilton site, which is expected to simplify processing and reduce technical risk. Testing also indicates potential recovery of niobium and zirconium, alongside titanium and vanadium.
• Engineering: Two US engineering partners are reviewing the existing design for adaptation to US requirements, with OmniEM remaining involved.
• Financing: A US investment bank is leading a proposed US$10-15 million pre-IPO financing, targeted for completion by the end of October 2026, ahead of a potential US listing in H1 2027.
• Shareholder liquidity: Mechanisms to provide liquidity for existing shareholders being explored with pre-IPO and IPO financing
• Government support: Preliminary discussions have commenced regarding US Federal Government funding and incentives. UK EIS eligibility is also being assessed [in relation to the pre-IPO financing].
• Corporate strategy: The change to Fodere Critical Minerals reflects the Company's broader focus on recovering multiple critical minerals from industrial residues.
• US leadership: Former Tronox Senior Vice President Melissa H. Zona is working alongside US Chairman and CEO Jeff Quinn to strengthen US execution capability.

Fodere's immediate priorities are to complete the engineering review, finalise plant design and costs, progress the Tronox arrangements, advance government funding discussions and complete the proposed pre-IPO financing, before moving towards construction and commissioning of the Mississippi plant.

The Board of Fodere is exploring potential mechanisms to provide liquidity for existing shareholders as the pre-IPO financing and potential US listing progress. The structure and timing have not yet been finalised although the Jangada Board will consider its options regarding its shareholding in Fodere if and when such an offer arises.

Axies Ventures Limited ('Axies') Update

The Company has also received an update from Axies in which it invested £150,000 in two tranches in 2022 and 2026. The Company has multiple prospective high-grade copper and copper gold projects in Cyprus and Canada. The portfolio has been developed to a stage where the company believes that it will be ready for an IPO in Q4 2026 at a significant multiple to Jangada's entry point.

Brian McMaster, Chairman of Jangada, said: "We have significant capital invested in two companies that are both progressing towards potential liquidity events. While there has been some concern around a possible capital raise, with more than £1 million in cash, sufficient funding for our current work programmes in Brazil and the potential for additional proceeds from realising our investments in Fodere and Axies, we believe Jangada is in a strong financial position to continue building shareholder value without the need for immediate dilution."

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