Jangada Mines Regulatory News (JAN)

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

10 October 2017

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

Major Resource Upgrade at the Pedra Branca Platinum Group Metals Project

Jangada Mines plc, a natural resources company developing South America's largest and most advanced platinum group metals ('PGM') project, is pleased to announce the upgrading of its mineral resources at its Pedra Branca Project (the 'Project') in north-eastern Brazil.

Overview

· Significant upgrade in the mineral resource classification of the Project

· Measured and Indicated Resources increased by 35% and 74% respectively

· 77% of the Project's resources now in the Indicated and Measured categories and expected to be converted to economic Reserves during the finalisation of the Prefeasibility Study ('PFS')

· Upgraded mineral resource expected to materially and positively impact life-of-mine and Project value

· Management continues to hit development goals - increasing resources and proving significant polymetallic credits including copper, cobalt nickel and chrome

· Management target exploration potential of greater than 3moz of PGM

· PFS and Scoping Study progressing on schedule with the Scoping Study to be completed in the near term

Brian McMaster, Executive Chairman of Jangada said, "Pedra Branca is the largest and most advanced PGM project in South America, with in excess of 1 million ounces of PGM+Au defined and exploration work totalling +US$35 million. With a clear development plan being executed since listing four months ago, we are rapidly unlocking real value as each phase is concluded. The upgrading of the current PGM resource is a further step in this process and demonstrates the long-life potential of Pedra Branca and the minimal expenditure required to increase the Project value. The next step is the conclusion of the Scoping Study, which we believe will highlight the economic potential; this has already been added to with the inclusion of copper, cobalt, nickel, chrome, rhodium and gold credits. We continue to fast-track this polymetallic project towards trial mining production in early 2018 and look to further develop its scale beyond the existing discoveries, through exploration on a further 44 exploration licences spanning 55,000 hectares, which also have significant upside potential for PGM."

The Pedra Branca Project is the largest and most advanced PGM project in South America and currently has a JORC (2012) compliant resource of approximately 1 million ounces of PGM+Au at a grade of 2.46 g/t Pd Eq, 109 Mlbs of Ni, 23 Mlbs of Cu and 6.4 Mlbs of Co and 670 kt Cr. The Project is located 280 km from the port city of Fortaleza in the northeast of Brazil and holds three mining and 44 exploration licences over an area of 55,000 ha.

Independent studies at the Project by GE21 Consultoria Mineral in Brazil ('GE21') are ongoing, including a PFS and Scoping Study; it is anticipated that the Scoping Study will be completed during the current quarter.

As the tables below demonstrate, more than 77% of the Project's resources are now in the Indicated and Measured categories and should be converted to economic Reserves during the finalisation of the PFS, which may materially impact the life of mine and Project value.

Competent Person Statement

The information in this statement which relates to the Mineral Resource is based on information compiled by Mr Bernardo H C Viana who is a geologist and full-time director and owner of GE21 and is registered as a Competent Person with the Australian Institute of Geoscientists. Mr Viana has sufficient relevant experience to the style of mineralization to qualify as a Competent Person as defined in the JORC Code (2012). Mr Viana also meets the requirements of a qualified person under the AIM Note for Mining, Oil and Gas Companies.

Cautionary Statements

The reader is cautioned that a Mineral Resource is an estimate only and not a precise and completely accurate calculation, being dependent on the interpretation of the limited information on the location, shape, and the continuity of the occurrence and the available sampling results. Actual mineralisation can be more or less than estimated depending upon the actual geological conditions. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. No Mineral Reserves are being stated.

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014.

* ENDS *

For further information, please visit www.jangadamines.com or contact:

Notes to the Editors

Jangada Mines plc is focused on developing the Pedra Branca PGM Project ('the Project'), one of the largest undeveloped PGM projects outside of Africa, with the potential to supply a market in long-term deficit. The Company is aiming to establish a low cost, low capex open pit mine, with a target to produce 30,000 oz/annum by the end of 2018 from three existing mining licences with mineralisation commencing at surface. The Project has a JORC (2012) Compliant Resource of approximately 1 million ounces of PGM+Au at a grade of 2.46 g/t Pd Eq, 109 Mlbs of Ni, 23 Mlbs of Cu and 6.4 Mlbs of Co and 670 kt Cr with mineralisation from surface and circa 52% of this contained within current mining licences and is considered a low development risk due to previous exploration work totalling + US$35 million. Additionally, the Company owns a further 44 exploration licences spanning 55,000 hectares, which have significant upside potential for PGM, nickel, copper, chrome, rhodium, gold, and vanadium. The team has a wealth of experience, not only of the Project but of mining in South America across a range of commodities.

GE21 Consultoria Mineral ('GE21')

GE21 is an independent mining consulting company with a team consisting of professionals with extensive technical and operating experience from relevant companies pioneering work in development projects, mineral exploration and consultancy since the 1980s.

Previously known as Coffey Mining, the experience of the team covers the entire mining cycle, including strategy definition, investment, target generation and selection, mineral exploration, project development, geological modelling, resource and reserves estimation compliant to JORC and NI43-101 requirements, mining planning, technical and economic studies, auditing and training.