Investee Company Update

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

3 September 2026

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

Investee Company Update

Fodere and Axies make significant progress and head toward IPOs

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."

ENDS

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

About Jangada Mines Plc

Jangada Mines Plc (AIM: JAN) is a natural resource development company with assets in Brazil. It is led by a team with deep industry, financial and in-country experience, and has a dual growth strategy to advance its portfolio projects including the high-grade Molly Gold Project, the Paranaíta Gold Project and the 100%-owned Pitombeiras vanadium titanomagnetite Project; and utilise its proven in-country and geological expertise to identify/acquire additional projects that it can rapidly advance to build value for shareholders.

The Company has a 7.8% interest in Fodere Critical Minerals, a transformative mineral processing business centred around a patented hydrometallurgical and pyrometallurgical extraction platform. Further information is available at www.foderegroup.com. Additionally, the Company has a 4.4% stake in Axies Ventures Ltd which is advancing a portfolio of copper and gold exploration targets in recognized geological proven regions within Cyprus and Canada. www.axiesventures.com.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.