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

1 March 2021

Jangada Mines plc

Strengthening of Senior Management Team to Advance Ferrovanadium Project

Jangada Mines plc ("Jangada" or "the Company"), a natural resources company, is pleased to announce the appointment to the Company's senior technical team of Mr. José Luiz de Oliveira Martins as Vice President, Project Manager and Mr. Marcos Goossens as Senior Manager, Metallurgy, both effective immediately. The addition of two highly experienced senior managers is in line with Jangada's strategy to become a ferrovanadium producer and reflects the progress made at its 100%-owned Pitombeiras Vanadium Project ("Pitombeiras" or "the Project"), Ceará State, Brazil.  This includes a recently completed Preliminary Economic Assessment ('PEA') which confirmed the Project's robust economics: US$106.5 million post-tax Net Present Value; 317.8% post-tax Internal Rate of Return; and three-month payback (see announcement of 16 February 2021).

Brian McMaster, Executive Chairman of Jangada, said: "I am delighted to welcome José Luiz and Marcos Goossens as key members of Jangada's management team; to be able to attract such high calibre professionals to our Company speaks volumes about the excellent potential of the Pitombeiras Vanadium Project. The appointments bring in-depth expertise and proven track-records in mining project development, metallurgy, construction and operations, which will be instrumental in unlocking Pitombeiras' value as highlighted in the recently published PEA. Having them as part of the team will allow us to move faster in many aspects of project development than if we were using external consultants. Their initial areas of focus include capex optimisation and equipment sourcing, as well as closely leading the ongoing metallurgical tests, which will be essential components of the revised PEA expected to be delivered by end of Q2 2021."   

José Luiz de Oliveira Martins

Mr. Martins has over 35 years of mining experience, having played key roles on project feasibility studies, development, construction and operations of major iron ore, copper, coal and bauxite mines in Brazil and internationally. Most recently, Mr. Martins was Director of Operations with Vale S/A at its Moatize Coal Mine in Mozambique, where he was responsible for the mine operation, including the mineral processing plants, dams, and associated mining equipment maintenance. The Moatize Coal Mine is a 15Mty operation with 3,300 direct employees and about 3,000 contractors. Prior to Vale, Mr. Martins held the position of Chief Operating Officer (COO) with MRN - Mineração Rio do Norte S.A, where he was responsible for overseeing all aspects of mine operations, including bauxite mines, ore beneficiation plant, dams, railroad and port and equipment maintenance. MRN produces about 18Mtpy of bauxite with a team of 1,200 direct employees and about 1,000 contractors.

Marcos Goossens

With 40 years multi-disciplined mining experience, Mr. Gossens brings to Jangada expertise on mining processing, mineral metallurgy, product development and quality acquired from key roles on small to major iron ore and manganese operations, among other minerals. He has held senior operational roles with Vale S/A and MMX Mineração e Metálicos, as well as working as a consultant for dozens of projects in Brazil and internationally.

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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