TIDMJAN

RNS Number : 8897Y

Jangada Mines PLC

11 December 2017

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

11 December 2017

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

Local Government Approval for Pilot Production

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 that authorisation has been received from the relevant Brazilian municipal government for pilot scale production at its Pedra Branca Project in north-eastern Brazil ('the Project').

The Company now intends to make an application to the Secretaria do Meio Ambiente do Ceará ('SEMACE') and Departamento Nacional de Produção Mineral ('DNPM') for a trial mining licence during Q1 2018. Before this application can be made, the Company is required to receive municipal government approval, which has now been received.

Brian McMaster, Executive Chairman of Jangada said, "This is a significant milestone for the Company on its road to near-term production. The local authorities (local, state and federal) in Brazil have been very supportive of our development plans at the Project and this formal approval underscores that. In light of our recent progress and positive Scoping Study results (as announced on 31 October 2017), we look forward to the continued development of the project including the conclusion of our Pre-feasibility Study during Q1 2018."

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:

 
 Jangada Mines plc                                      E: info@jangadamines.com 
 
 Strand Hanson Limited (Financial                              T: +44 (0)20 7409 
  & Nominated Adviser)                                                      3494 
  James Spinney / Ritchie Balmer 
  / Jack Botros 
 
 Beaufort Securities (Broker)                                  T: +44 (0)20 7382 
  Jon Belliss                                                               8300 
 
 St Brides Partners LTD (Financial                             T: +44 (0)20 7236 
  PR)                                                                       1177 
  Hugo de Salis / Olivia Vita

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 1.3 g/t, 109Mlbs of Ni, 23Mlbs of Cu, 6.4Mlbs of Co and 670kt of Cr. Circa 52% of this is 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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 11, 2017 02:00 ET (07:00 GMT)

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