Jangada Mines Regulatory News (JAN)

To view the announcement with the illustrative maps and diagrams please use the following link:http://www.rns-pdf.londonstockexchange.com/rns/7456T_1-2020-7-22.pdf

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

22 July 2020

Jangada Mines plc

Final Drilling Results from Goela Targets

Jangada Mines plc ('Jangada' or 'the Company'), a natural resources company, is pleased to announce final assay results from its diamond drilling ('DD') programme at its Pitombeiras Vanadium Project ('Pitombeiras' or 'the Project') in Brazil. The programme has evaluated the structural corridor associated with the known vanadium titanomagnetite ('VTM') mineralisation, which includes the Pitombeiras North and Pitombeiras South anomalies and the newly discovered Goela VTM targets.

Highlights:

· Final five assay results received from the Goela Target, including:

o 27.75 metres at 0.65% vanadium pentoxide ('V2O5'), 12.95% titanium dioxide ('TiO2') and 63.69% ferric oxide ('Fe2O3'), including 9.50 metres at 0.77% V2O5, 15.19% TiO2 and 72.44% Fe2O3 on drillhole DD20PI24

o 29.00 metres at 0.59% V2O5, 11.96% TiO2 and 58.64% Fe2O3, including 7.00 metres at 0.79% V2O5, 15.41% TiO2 and 73.26% Fe2O3 on drillhole DD20PI26

Brian McMaster, Executive Chairman of Jangada, said: "The 2020 drilling campaign has been an overwhelming success, underpinning the significant prospectivity of Pitombeiras as a result of the consistency of returned grades, widths and continuity. The results of these latest and final drill holes have further confirmed this and also highlighted the effectiveness of our exploration approach of utilising airborne magnetic surveys to delineate VTM drilling targets. The Pitombeiras North and Goela targets are two out the six identified airborne magnetic anomalies and our technical team strongly believe that the VTM system will continue to grow as we expand our drilling footprint, which is now being considered as part of our ongoing development strategy. In the meantime, the 2020 drill results, together with results from our 2019 drill programme, will be used to prepare an initial JORC Resource estimate, which we look forward to sharing further details on in due course."

Further Information:

A total of 19 DD holes have been completed in 2020 for a total of 1,360.80 metres, including 1,058.85 metres at the Pitombeiras North target and 301.95 metres at the Goela target. Of these, 16 from a total of 19 drillholes intersected VTM mineralisation.

Assay results have been received for all 16 DD holes, including the remaining five holes from the Goela target, including:

· Hole DD20PI24: 27.75 metres at 0.65% V2O5, 12.95% TiO2 and 63.69% Fe2O3, including 9.50 metres at 0.77% V2O5, 15.19% TiO2 and 72.44% Fe2O3

· Hole DD20PI25: 7.27 metres at 0.55% V2O5, 10.79% TiO2 and 54.04% Fe2O3, including 2.28 metres at 0.73% V2O5, 14.45% TiO2 and 67.60% Fe2O3

· Hole DD20PI26: 29.00 metres at 0.59% V2O5, 11.96% TiO2 and 58.64% Fe2O3, including 7.00 metres at 0.79% V2O5, 15.41% TiO2 and 73.26% Fe2O3

· Hole DD20PI27: 6.85.00 metres at 0.40% V2O5, 13.77% TiO2 and 66.13% Fe2O3

· Hole DD20PI28: 1.93 metres at 0.59% V2O5, 11.79% TiO2 and 59.32% Fe2O3

· Hole DD20PI28: 3.12 metres at 0.43% V2O5, 9.30% TiO2 and 44.63% Fe2O3

The Pitombeiras Project has returned in total 20 VTM mineralised holes out of the 24 holes drilled in the 2019 and 2020 drilling campaign, which has intersected weighted average grades and apparent widths of 0.545% V2O5, 10.86% TiO2 and 56.71% Fe2O3 over an average thickness of 25.16m, as set out in Table 1 and Figure 1 (Pitombeiras North target) and Figure 2 (Goela target).

The Pitombeiras North and Goela targets are two out of the six prospective airborne magnetic anomalies identified with VTM's signatures similar to Pitombeiras North target over a total area of 1,958 hectares.

Table 1:

Figure 1: Plan view with drilling results from Pitombeiras North target (including 2019 and 2020 drill intersections).

Figure 2: Plan view with drilling results from Goela target

Quality Assurance & Quality Control

All drill samples have been prepared and analysed by SGS-Geosol Laboratórios Ltda ('SGS-Geosol') based in Belo Horizonte, Brazil. SGS-Geosol is ISO14001:2004 and ISO 9001:2008 accredited and is independent of Jangada. The samples were analysed by fusion with lithium tetraborate-XRF for Al2O3, CaO, Co, Fe2O3, K2O, MgO, MnO, Na2O, P2O5, SiO2, TiO2, V2O5 and retained moisture (LOI) by multi-temperature.

QA/QC procedures include the submission by Jangada of systematic duplicates, blanks and standard samples within every sample batch submitted to SGS. In addition, SGS-Geosol inserts its own standards, blanks and duplicate samples. The results from these control samples indicate acceptable consistency of analysis.

Qualified Person Review

The technical information in this announcement has been reviewed by Mr. Paulo Ilidio de Brito, who is a member of the Australian Institute of Geoscientists (MAIG #5173) and a member of AusIMM - The Australasian Institute of Mining and Metallurgy (MAusIMM #223453). Mr. Brito is a professional senior geologist with +35 years of experience in the mining industry, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Mr. Brito also meets the requirements of a qualified person under the AIM Note for Mining, Oil and Gas Companies. Mr. Brito has no economic, financial or pecuniary interest in the Company and he consents to the inclusion in this document of the matters based on his technical information in the form and context in which it appears.

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

**ENDS**

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