Brasnova Energy Materials Inc. has executed a modified binding agreement with BGC Gold Inc. to expand its footprint in Brazil’s Bahia Gold Belt to 17,457.20 hectares across five gold projects through earned equity ownership in a subsidiary of BGC.

Under the updated terms dated August 27, 2026, Brasnova holds the option to acquire a 50 percent interest in the five gold projects by expending CA$1,000,000 over a period of twenty-four months. This financial commitment includes all amounts previously spent on the Capela Gold Project, as well as ongoing work expenditures and holding fees due across the portfolio. Once Brasnova fulfills these expenditure obligations, BGC will transfer the 50 percent equity ownership of its Brazilian subsidiary to Brasnova.

The modified transaction significantly enlarges the company’s regional holding compared to its initial agreement announced on January 19, 2026, which covered 3,935.25 hectares at a single BGC project. The expanded five-project portfolio positions the asset package alongside established regional operations, including Pan American Silver's Jacobina gold mining complex and Equinox Gold's Santa Luz complex in the same gold belt.

Prior to finalising the expanded agreement, Brasnova advanced surface exploration across the initial Capela project area. Fieldwork included a rock chip sampling program that returned encouraging surface results in July 2026, highlighted by a peak assay of 4.13 g/t gold.

The exploration team has since continued systematic geological mapping and sampling to better define the geometry and lateral extent of the mineralized system within the property. Brasnova is currently awaiting laboratory assay results for five analytical batches totaling 110 samples submitted to SGS Geosol. This ongoing work program comprises 52 rock samples, 14 active stream sediment samples, and 44 soil samples designed to evaluate broader mineralized occurrences and guide subsequent exploration phases across the expanded land package.

Read the full announcement: Brasnova Energy Materials Inc. Modified Option on Five Gold Projects Creating a District Scale Gold Portfolio in the Bahia Gold Belt of Brazil