{"success":true,"data":{"pressRelease":{"id":"99150","rtpr_id":"nGNX5Z055p","ticker":"BMT","exchange":"","all_tickers":["BMT"],"title":"Bahia Metals Technical Review Reinforces the Potential of the Mangueiros Main Project","author":"Globe Newswire","published_at":"2026-07-27T13:00:00.811Z","article_body":"VANCOUVER, British Columbia, July 27, 2026 (GLOBE NEWSWIRE) -- Bahia Metals\nCorp. (CSE: BMT\n(https://www.globenewswire.com/Tracker?data=0CgUNEeL0aenmxXJD-b_CHbspKuLGfWHCR2RjpV5ww2BFzMAjukEBto86SJXkf5fvBi0wkL-4MRBdeEsa43ki-Esl5w0BzLML0QzAt0YHGdeH2adruGtfHLR7QTOkOrm))\n(“Bahia” or the “Company”) is pleased to provide an update on its\ncorporate strategy and ongoing technical review of the Mangueiros Main\nNickel-Copper-Cobalt-PGM Project and regional exploration projects (the\n“Projects”) in Bahia State, Brazil.\n\nThe review has reinforced management’s view that the Mangueiros Main project\n(“Mangueiros Main”) possesses many of the characteristics associated with\na development-stage nickel sulphide asset, including significant scale\npotential, extensive historical drilling, encouraging preliminary\nmetallurgical results and access to established infrastructure within one of\nBrazil’s premier mining regions.\n\nThe Company’s flagship asset, Mangueiros Main is a technically well\nunderstood, sulphide-hosted nickel-copper-cobalt-PGM project with an\nexploration target of 75-200 Mt @ 0.20% to 0.25% NiS(1) with the potential to\nemerge as a strategic, long-life source of critical minerals. It is located in\nBahia State, Brazil, a well-established mining jurisdiction with\ninfrastructure, supportive regulatory frameworks, and a strong mining\ntradition. This combination positions Mangueiros to contribute to future\nsupply chains supporting electrification and energy transition technologies.\n\nStephen Goodman, CEO and Director of Bahia Metals Corp. comments:\n“Mangueiros Main represents a strong critical minerals exploration\nopportunity. As stated, our objective is to efficiently unlock the potential\nof Mangueiros Main through resource definition and economic evaluation.\n\nMangueiros Main benefits from a substantial technical foundation, including\nextensive drilling, geophysical surveys and encouraging preliminary\nmetallurgical work. As we continue our review, we believe Mangueiros Main is\nemerging as a compelling nickel sulphide opportunity in a jurisdiction that is\nattracting global investment in critical minerals.\n\nBeyond Mangueiros Main, we see meaningful growth potential across our broader\nasset portfolio. Mangueiros West, located just 1 km away, is emerging as a\ncompelling follow-up opportunity and is expected to be a key focus as we\ncontinue advancing the district.\n\nThe Company is focused on creating long-term shareholder value through\ndisciplined technical advancement of its assets.”\n\nFigure 1. The Mangueiros Nickel-Copper-Cobalt-PGM Project in Bahia State,\nBrazil\n\nMangueiros Main and District Investment Highlights\n* 100%-owned sulphide nickel-copper-cobalt-PGM project in Bahia State, Brazil\n* Extensive technical database including 86 drill holes totalling 12,786\nmetres\n* At Mangueiros Main * Mineralization defined over approximately 2 km strike\nlength\n* Shallow mineralization beginning at surface\n* Exploration Target of 75–200 Mt grading 0.20%-0.25% NiS1 at Mangueiros\nMain\n* Positive preliminary metallurgical testing, further studies warranted\n* Potential pathway toward an initial NI 43-101 Mineral Resource Estimate and\nPreliminary Economic Assessment\n \n* District-scale upside at Mangueiros West and Lagoa da Onça\nMangueiros Main: The Foundation of a Future Critical Minerals Hub in Bahia\nState\nMangueiros Main represents the Company’s flagship asset and is the most\nadvanced target. It serves as the cornerstone asset within what management\nbelieves could evolve into a broader district-scale nickel camp.\n\nDrilling at Mangueiros Main has confirmed a broad, continuous zone of\nnickel-copper-cobalt sulphide mineralization extending across a footprint\nmeasuring at least 2,000 meters in strike length and approximately 500 meters\nin width. Importantly, mineralization begins at surface, a characteristic that\nmay support favourable future development scenarios.\n\nThe Company benefits from an extensive technical database that includes\napproximately 12,786 meters of diamond drilling in 86 holes across the\nProjects, including 10,005 meters of drilling at the Mangueiros Main and\nadjacent targets and includes multiple geophysical datasets.\n\nThis technical foundation allows the Company to rapidly transition from\nexploration toward resource definition and project advancement.\n\nTechnically Well Understood Asset        \n* Drilling at Mangueiros Main confirmed a shallow, laterally continuous and\npredictable mineralized system\nPotential Scale\n* Mineralization defined over ~2.0 km strike length, widths up to 500 meters,\nand depths of up to 300 meters\nDefined Exploration Target*\n* 75-200 million tonnes grading 00.20%–0.25% NiS1, as outlined in the\nCompany’s NI 43-101 Technical Report prepared by SRK Consulting\n*The potential quantity and grade is conceptual in nature. There has been\ninsufficient analysis of existing exploration data to define a mineral\nresource and that it is uncertain if such analysis of existing data or further\nexploration will result in the target being delineated as a mineral resource.\nThe potential quantity and grade is based on existing historical data as\ndescribed above.\n \n\nFigure 2. Robust geophysical anomalies identified at Mangueiros Main and\nMangueiros West\n\nThe sulphide nature of the mineralization is particularly important, as it is\ntypically associated with conventional processing routes and lower carbon\nintensity relative to laterite deposits, reinforcing the Project’s alignment\nwith evolving ESG and downstream supply chain requirements.\n\nPreliminary metallurgical work on mineralization at the Mangueiros Main target\nwas completed in 2023(1). Four individual metallurgical samples of\napproximately 33 kg each was collected from drill core crushed rejects (3 mm)\nfrom eight drill holes and were composited. Results of the test procedure\ndemonstrated encouraging recoveries for nickel, with NiS recovery from 81.2%\nto 91.5% for blebs sample and 79.7% to 81.9% for disseminated samples. The SRK\ntechnical report(1) recommends additional metallurgical testing to expand and\nrefine nickel recoveries and greater visibility into recoveries for other\nmetals.\n\nMangueiros West Highlights\nThe Company is advancing its high-priority target at Mangueiros West, ~1 km\nfrom Mangueiros Main.\n\n Priority         Drill Hole  From (m)  Interval (m)  NiS %  Cu %  Co %  \n Target                                                                  \n Mangueiros West  MGDH-069    97.70     25.40         0.24   0.20  0.02  \n\nTable 1. Drill results from Mangueiros West, drill hole MGDG-069\n\nNote: Hole MGDH-069 ended in mineralization; the true thickness and extent of\nthe zone remains open. All reported intervals are downhole lengths and the\ntrue thickness cannot be established without additional drilling.\n* Geophysical signature comparable in scale and intensity to Mangueiros Main\n* Encouraging intercepts of sulphide nickel-copper-cobalt mineralization\nThis supports Bahia’s view that there is potential of a district-scale\nmineral system.\n\nCorporate Strategy and Development Roadmap\nAdvance Mangueiros Main through key technical milestones designed to enhance\nthe Project’s understanding and support future development decisions.\n\nSubject to the results of the ongoing technical review and available funding,\nthe Company’s current objectives include:\n* Advancing work toward an initial NI 43-101 Mineral Resource Estimate\n(“MRE”) for Mangueiros Main\n* Continuing technical evaluation of the Mangueiros West, Lagoa da Onça and\nLagoa da Onça North targets to assess their contribution to the broader\ndistrict-scale potential of the Projects\n* Advancing metallurgical, geological and engineering studies to support\nfuture technical decision-making\n* If these steps prove successful, evaluate the potential scope and timing of\na NI 43-101 Preliminary Economic Assessment (“PEA”)\nSampling, QA/QC, and Analytical Procedures\nBahia Nickel Mineração drill core (HQ – 63.5 mm) was recovered and site,\nquick logged, sealed and transported to the core facility located in the city\nof Campo Alegre de Lourdes where geologists and technicians would inspect and\nsign off on the delivered core. Drill core was then logged and marked up for\nsampling based on geological features and sulphide concentration and a center\nline was established prior to cutting. Drill cores were sawn in half, with one\nhalf remaining in the core box and the other half secured into new plastic\nsample bags with unique sample number tickets. Samples where packed into PVC\nbags (no more than 5 per bag) and were dispatched to the laboratory by a\nnationally recognized courier service every two weeks during the drill\ncampaign. All reported samples were prepared at the ALS preparation facility\nlocated in Vespasiano, MG, Brazil and shipped to the ALS laboratory in Callao,\nPeru for analysis. Samples were oven dried, crushed to 70% passing 2 mm and\nthen pulverized to grind size of 85% passing 75 microns. Method ALS Code\nNI-ICP05 was utilised for nickel analysis and multi-analysis digestion (ALS\nCode ME-ICP61) was used for the other elements with ICP-AES finish, providing\ntotal nickel content. PT, Pd and Au were analysed by fire assay with ICP-AES\nfinish (ALS Code PGM-ICP23). QA/QC procedures for the drill program include\nthe insertion of certificated standards, blanks and laboratory duplicates per\nbatch (one batch contained only one drill hole). All QAQC control samples\nreturned values within acceptable limits.\n\nThe ALS preparation facilities and assay laboratories are independent. ALS\nassay laboratories are ISO 17025 accredited. All ALS South American sample\npreparation facilities are included in the scope of the ISO audit for the Lima\nassay laboratory and thus are also ISO 17025 accredited.\n\nAmendment of Warrant Terms\nThe Company has approved an amendment to the expiry date of 2,445,000\npreviously issued share purchase warrants. The warrants, which are currently\nscheduled to expire on September 19, 2026, will now expire on April 3, 2027.\nAll other terms of the warrants, including the exercise price of $0.50 per\nshare, remain unchanged.\n\nHolders of the warrants are advised that replacement warrant certificates will\nnot be issued, and this news release constitutes notice of the amendment. The\nCompany will file a Form 13 – Notice of Amendment of Warrant Terms with the\nCanadian Securities Exchange in connection with the amendment.\n\nQualified Person and NI 43-101 Disclosure\nTechnical information in this news release is derived from the independent\nreport entitled “NI 43-101 Technical Report – Project Status Report\nMangueiros Ni-Cu-Co Project, Bahia, Brazil” dated January 6, 2026 (effective\nNovember 15, 2024), prepared by Douglas Reid, P. Eng of SRK Consulting,\navailable on SEDAR+.\n\nThe scientific and technical information in this press release has been\nreviewed and approved by Paul Sarjeant, P.Geo. (Ontario), who is a Qualified\nPersons as defined by National Instrument 43-101. Mr. Sarjeant is independent\nof Bahia Metals Corporation.\n\nAbout Bahia Metals Corp.\nBahia Metals Corp. (CSE: BMT) is a Canadian mineral exploration and\ndevelopment company focused on advancing the Company’s flagship asset\nMangueiros Main, a nickel-copper-cobalt-PGM sulphide asset.\n\nThe Company completed its initial public offering in January 2026 raising\ngross proceeds of $5.75 million and secured a 100% interest in the Mangueiros\nMain Nickel-Copper-Cobalt-PGM Project and regional exploration projects, which\nwas originally advanced by parties affiliated with Appian Capital Advisory\nLimited.\n\nOn behalf of the Board of Directors:\n\nStephen Goodman, Chief Executive Officer, Director \nT: +1 (604) 235-7083\nE: Investors@bahiametals.com\nFollow us on LinkedIn\n(https://www.globenewswire.com/Tracker?data=SSrABuAD-d5ko9KXojd3jQX7XQon54AsLTtXfUGCSYEu1hrle-0Qq_gAf1bGrpx2OLXOgRLxLYV04pRc5lCeczhJsdSfMyLdYX2B5IQqbVG6j3SgiZWP0i0aFU3vvmO-)\nand our website\n(https://www.globenewswire.com/Tracker?data=lXnD2_TxhVOccPoqR46VZgeixxeVFu7xN7g4wOAProPlbJTZWtWqiNEZoEazDk92JJdyl7VrlI2Ct6hMgEuWvA==)\n\nThe Canadian Securities Exchange has not reviewed this press release and does\nnot accept responsibility for the adequacy or accuracy of this news release.\n\nForward-looking Statements\nThis news release contains statements and information that constitute\nforward-looking information within the meaning of applicable Canadian\nsecurities laws. Forward-looking information in this news release includes,\nbut is not limited to, statements regarding the Company’s ongoing technical\nreview of the Mangueiros Main Nickel-Copper-Cobalt-PGM Project; the potential\nadvancement of Mangueiros Main toward a maiden mineral resource estimate; the\npotential for Mangueiros to become a strategic, long-life source of critical\nminerals; the geological characteristics, scale potential, continuity and\ndistrict-scale potential of the Project; the potential for additional\ndiscoveries at Mangueiros West, Lagoa da Onça and Lagoa da Onça North; the\npotential contribution of the Project to future critical minerals supply\nchains; the expected benefits of existing historical drilling, geophysical\ndata and technical work; and the Company’s plans, objectives and\nexpectations regarding future exploration, technical studies, resource\ndefinition and development planning.\n\nForward-looking information is based on assumptions that management considers\nreasonable as of the date of this news release, including assumptions\nregarding the accuracy and completeness of historical exploration data, the\ninterpretation of geological and geophysical information, the availability of\nqualified personnel and contractors, the Company’s ability to obtain\nrequired permits and financing, market demand for nickel, copper, cobalt and\nPGMs, and general business, economic, regulatory and capital market\nconditions. Forward-looking information is subject to known and unknown risks,\nuncertainties and other factors that may cause actual results, performance or\nachievements to differ materially from those expressed or implied, including\nrisks related to mineral exploration and development, the absence of current\nmineral resources or reserves at the Project, uncertainty that the exploration\ntarget will be delineated as a mineral resource, limitations of historical\ndata, changes in exploration plans or budgets, commodity price volatility,\ncurrency fluctuations, permitting and regulatory risks in Brazil,\nenvironmental and social risks, availability of financing, title and access\nrisks, operational risks, and general economic and market conditions.\n\nReaders are cautioned not to place undue reliance on forward-looking\ninformation. Except as required by applicable law, Bahia Metals Corp.\nundertakes no obligation to update or revise any forward-looking information,\nwhether as a result of new information, future events or otherwise.\n\nPhotos accompanying this announcement are available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/9ef9b48b-9266-4912-9191-33192664f7d3\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/6b386432-deb7-4ea1-a719-d160c201188b\n___________________________________\n(1)( “NI 43-101 Technical Report Project Status Report Mangueiros Ni-Cu-Co\nProject Bahia, Brazil” dated January 6, 2026, with an effective date of\nNovember 15, prepared by Douglas Reid, P. Eng of SRK.)\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/c4f7685b-e7a2-4a46-af2e-07539f693294)\nThe Mangueiros Nickel-Copper-Cobalt-PGM \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/9ef9b48b-9266-4912-9191-33192664f7d3/en)\nFigure 1. The Mangueiros Nickel-Copper-Cobalt-PGM Project in Bahia State,\nBrazilMangueiros Project Area \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/6b386432-deb7-4ea1-a719-d160c201188b/en)\nFigure 2. Robust geophysical anomalies identified at Mangueiros Main and\nMangueiros West\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX5Z055p","title":"Bahia Metals Technical Review Reinforces the Potential of the Mangueiros Main Project","author":"Globe Newswire","ticker":"BMT","created":"2026-07-27T13:00:00.811Z","tickers":["BMT"],"exchange":"","article_body":"VANCOUVER, British Columbia, July 27, 2026 (GLOBE NEWSWIRE) -- Bahia Metals\nCorp. (CSE: BMT\n(https://www.globenewswire.com/Tracker?data=0CgUNEeL0aenmxXJD-b_CHbspKuLGfWHCR2RjpV5ww2BFzMAjukEBto86SJXkf5fvBi0wkL-4MRBdeEsa43ki-Esl5w0BzLML0QzAt0YHGdeH2adruGtfHLR7QTOkOrm))\n(“Bahia” or the “Company”) is pleased to provide an update on its\ncorporate strategy and ongoing technical review of the Mangueiros Main\nNickel-Copper-Cobalt-PGM Project and regional exploration projects (the\n“Projects”) in Bahia State, Brazil.\n\nThe review has reinforced management’s view that the Mangueiros Main project\n(“Mangueiros Main”) possesses many of the characteristics associated with\na development-stage nickel sulphide asset, including significant scale\npotential, extensive historical drilling, encouraging preliminary\nmetallurgical results and access to established infrastructure within one of\nBrazil’s premier mining regions.\n\nThe Company’s flagship asset, Mangueiros Main is a technically well\nunderstood, sulphide-hosted nickel-copper-cobalt-PGM project with an\nexploration target of 75-200 Mt @ 0.20% to 0.25% NiS(1) with the potential to\nemerge as a strategic, long-life source of critical minerals. It is located in\nBahia State, Brazil, a well-established mining jurisdiction with\ninfrastructure, supportive regulatory frameworks, and a strong mining\ntradition. This combination positions Mangueiros to contribute to future\nsupply chains supporting electrification and energy transition technologies.\n\nStephen Goodman, CEO and Director of Bahia Metals Corp. comments:\n“Mangueiros Main represents a strong critical minerals exploration\nopportunity. As stated, our objective is to efficiently unlock the potential\nof Mangueiros Main through resource definition and economic evaluation.\n\nMangueiros Main benefits from a substantial technical foundation, including\nextensive drilling, geophysical surveys and encouraging preliminary\nmetallurgical work. As we continue our review, we believe Mangueiros Main is\nemerging as a compelling nickel sulphide opportunity in a jurisdiction that is\nattracting global investment in critical minerals.\n\nBeyond Mangueiros Main, we see meaningful growth potential across our broader\nasset portfolio. Mangueiros West, located just 1 km away, is emerging as a\ncompelling follow-up opportunity and is expected to be a key focus as we\ncontinue advancing the district.\n\nThe Company is focused on creating long-term shareholder value through\ndisciplined technical advancement of its assets.”\n\nFigure 1. The Mangueiros Nickel-Copper-Cobalt-PGM Project in Bahia State,\nBrazil\n\nMangueiros Main and District Investment Highlights\n* 100%-owned sulphide nickel-copper-cobalt-PGM project in Bahia State, Brazil\n* Extensive technical database including 86 drill holes totalling 12,786\nmetres\n* At Mangueiros Main * Mineralization defined over approximately 2 km strike\nlength\n* Shallow mineralization beginning at surface\n* Exploration Target of 75–200 Mt grading 0.20%-0.25% NiS1 at Mangueiros\nMain\n* Positive preliminary metallurgical testing, further studies warranted\n* Potential pathway toward an initial NI 43-101 Mineral Resource Estimate and\nPreliminary Economic Assessment\n \n* District-scale upside at Mangueiros West and Lagoa da Onça\nMangueiros Main: The Foundation of a Future Critical Minerals Hub in Bahia\nState\nMangueiros Main represents the Company’s flagship asset and is the most\nadvanced target. It serves as the cornerstone asset within what management\nbelieves could evolve into a broader district-scale nickel camp.\n\nDrilling at Mangueiros Main has confirmed a broad, continuous zone of\nnickel-copper-cobalt sulphide mineralization extending across a footprint\nmeasuring at least 2,000 meters in strike length and approximately 500 meters\nin width. Importantly, mineralization begins at surface, a characteristic that\nmay support favourable future development scenarios.\n\nThe Company benefits from an extensive technical database that includes\napproximately 12,786 meters of diamond drilling in 86 holes across the\nProjects, including 10,005 meters of drilling at the Mangueiros Main and\nadjacent targets and includes multiple geophysical datasets.\n\nThis technical foundation allows the Company to rapidly transition from\nexploration toward resource definition and project advancement.\n\nTechnically Well Understood Asset        \n* Drilling at Mangueiros Main confirmed a shallow, laterally continuous and\npredictable mineralized system\nPotential Scale\n* Mineralization defined over ~2.0 km strike length, widths up to 500 meters,\nand depths of up to 300 meters\nDefined Exploration Target*\n* 75-200 million tonnes grading 00.20%–0.25% NiS1, as outlined in the\nCompany’s NI 43-101 Technical Report prepared by SRK Consulting\n*The potential quantity and grade is conceptual in nature. There has been\ninsufficient analysis of existing exploration data to define a mineral\nresource and that it is uncertain if such analysis of existing data or further\nexploration will result in the target being delineated as a mineral resource.\nThe potential quantity and grade is based on existing historical data as\ndescribed above.\n \n\nFigure 2. Robust geophysical anomalies identified at Mangueiros Main and\nMangueiros West\n\nThe sulphide nature of the mineralization is particularly important, as it is\ntypically associated with conventional processing routes and lower carbon\nintensity relative to laterite deposits, reinforcing the Project’s alignment\nwith evolving ESG and downstream supply chain requirements.\n\nPreliminary metallurgical work on mineralization at the Mangueiros Main target\nwas completed in 2023(1). Four individual metallurgical samples of\napproximately 33 kg each was collected from drill core crushed rejects (3 mm)\nfrom eight drill holes and were composited. Results of the test procedure\ndemonstrated encouraging recoveries for nickel, with NiS recovery from 81.2%\nto 91.5% for blebs sample and 79.7% to 81.9% for disseminated samples. The SRK\ntechnical report(1) recommends additional metallurgical testing to expand and\nrefine nickel recoveries and greater visibility into recoveries for other\nmetals.\n\nMangueiros West Highlights\nThe Company is advancing its high-priority target at Mangueiros West, ~1 km\nfrom Mangueiros Main.\n\n Priority         Drill Hole  From (m)  Interval (m)  NiS %  Cu %  Co %  \n Target                                                                  \n Mangueiros West  MGDH-069    97.70     25.40         0.24   0.20  0.02  \n\nTable 1. Drill results from Mangueiros West, drill hole MGDG-069\n\nNote: Hole MGDH-069 ended in mineralization; the true thickness and extent of\nthe zone remains open. All reported intervals are downhole lengths and the\ntrue thickness cannot be established without additional drilling.\n* Geophysical signature comparable in scale and intensity to Mangueiros Main\n* Encouraging intercepts of sulphide nickel-copper-cobalt mineralization\nThis supports Bahia’s view that there is potential of a district-scale\nmineral system.\n\nCorporate Strategy and Development Roadmap\nAdvance Mangueiros Main through key technical milestones designed to enhance\nthe Project’s understanding and support future development decisions.\n\nSubject to the results of the ongoing technical review and available funding,\nthe Company’s current objectives include:\n* Advancing work toward an initial NI 43-101 Mineral Resource Estimate\n(“MRE”) for Mangueiros Main\n* Continuing technical evaluation of the Mangueiros West, Lagoa da Onça and\nLagoa da Onça North targets to assess their contribution to the broader\ndistrict-scale potential of the Projects\n* Advancing metallurgical, geological and engineering studies to support\nfuture technical decision-making\n* If these steps prove successful, evaluate the potential scope and timing of\na NI 43-101 Preliminary Economic Assessment (“PEA”)\nSampling, QA/QC, and Analytical Procedures\nBahia Nickel Mineração drill core (HQ – 63.5 mm) was recovered and site,\nquick logged, sealed and transported to the core facility located in the city\nof Campo Alegre de Lourdes where geologists and technicians would inspect and\nsign off on the delivered core. Drill core was then logged and marked up for\nsampling based on geological features and sulphide concentration and a center\nline was established prior to cutting. Drill cores were sawn in half, with one\nhalf remaining in the core box and the other half secured into new plastic\nsample bags with unique sample number tickets. Samples where packed into PVC\nbags (no more than 5 per bag) and were dispatched to the laboratory by a\nnationally recognized courier service every two weeks during the drill\ncampaign. All reported samples were prepared at the ALS preparation facility\nlocated in Vespasiano, MG, Brazil and shipped to the ALS laboratory in Callao,\nPeru for analysis. Samples were oven dried, crushed to 70% passing 2 mm and\nthen pulverized to grind size of 85% passing 75 microns. Method ALS Code\nNI-ICP05 was utilised for nickel analysis and multi-analysis digestion (ALS\nCode ME-ICP61) was used for the other elements with ICP-AES finish, providing\ntotal nickel content. PT, Pd and Au were analysed by fire assay with ICP-AES\nfinish (ALS Code PGM-ICP23). QA/QC procedures for the drill program include\nthe insertion of certificated standards, blanks and laboratory duplicates per\nbatch (one batch contained only one drill hole). All QAQC control samples\nreturned values within acceptable limits.\n\nThe ALS preparation facilities and assay laboratories are independent. ALS\nassay laboratories are ISO 17025 accredited. All ALS South American sample\npreparation facilities are included in the scope of the ISO audit for the Lima\nassay laboratory and thus are also ISO 17025 accredited.\n\nAmendment of Warrant Terms\nThe Company has approved an amendment to the expiry date of 2,445,000\npreviously issued share purchase warrants. The warrants, which are currently\nscheduled to expire on September 19, 2026, will now expire on April 3, 2027.\nAll other terms of the warrants, including the exercise price of $0.50 per\nshare, remain unchanged.\n\nHolders of the warrants are advised that replacement warrant certificates will\nnot be issued, and this news release constitutes notice of the amendment. The\nCompany will file a Form 13 – Notice of Amendment of Warrant Terms with the\nCanadian Securities Exchange in connection with the amendment.\n\nQualified Person and NI 43-101 Disclosure\nTechnical information in this news release is derived from the independent\nreport entitled “NI 43-101 Technical Report – Project Status Report\nMangueiros Ni-Cu-Co Project, Bahia, Brazil” dated January 6, 2026 (effective\nNovember 15, 2024), prepared by Douglas Reid, P. Eng of SRK Consulting,\navailable on SEDAR+.\n\nThe scientific and technical information in this press release has been\nreviewed and approved by Paul Sarjeant, P.Geo. (Ontario), who is a Qualified\nPersons as defined by National Instrument 43-101. Mr. Sarjeant is independent\nof Bahia Metals Corporation.\n\nAbout Bahia Metals Corp.\nBahia Metals Corp. (CSE: BMT) is a Canadian mineral exploration and\ndevelopment company focused on advancing the Company’s flagship asset\nMangueiros Main, a nickel-copper-cobalt-PGM sulphide asset.\n\nThe Company completed its initial public offering in January 2026 raising\ngross proceeds of $5.75 million and secured a 100% interest in the Mangueiros\nMain Nickel-Copper-Cobalt-PGM Project and regional exploration projects, which\nwas originally advanced by parties affiliated with Appian Capital Advisory\nLimited.\n\nOn behalf of the Board of Directors:\n\nStephen Goodman, Chief Executive Officer, Director \nT: +1 (604) 235-7083\nE: Investors@bahiametals.com\nFollow us on LinkedIn\n(https://www.globenewswire.com/Tracker?data=SSrABuAD-d5ko9KXojd3jQX7XQon54AsLTtXfUGCSYEu1hrle-0Qq_gAf1bGrpx2OLXOgRLxLYV04pRc5lCeczhJsdSfMyLdYX2B5IQqbVG6j3SgiZWP0i0aFU3vvmO-)\nand our website\n(https://www.globenewswire.com/Tracker?data=lXnD2_TxhVOccPoqR46VZgeixxeVFu7xN7g4wOAProPlbJTZWtWqiNEZoEazDk92JJdyl7VrlI2Ct6hMgEuWvA==)\n\nThe Canadian Securities Exchange has not reviewed this press release and does\nnot accept responsibility for the adequacy or accuracy of this news release.\n\nForward-looking Statements\nThis news release contains statements and information that constitute\nforward-looking information within the meaning of applicable Canadian\nsecurities laws. Forward-looking information in this news release includes,\nbut is not limited to, statements regarding the Company’s ongoing technical\nreview of the Mangueiros Main Nickel-Copper-Cobalt-PGM Project; the potential\nadvancement of Mangueiros Main toward a maiden mineral resource estimate; the\npotential for Mangueiros to become a strategic, long-life source of critical\nminerals; the geological characteristics, scale potential, continuity and\ndistrict-scale potential of the Project; the potential for additional\ndiscoveries at Mangueiros West, Lagoa da Onça and Lagoa da Onça North; the\npotential contribution of the Project to future critical minerals supply\nchains; the expected benefits of existing historical drilling, geophysical\ndata and technical work; and the Company’s plans, objectives and\nexpectations regarding future exploration, technical studies, resource\ndefinition and development planning.\n\nForward-looking information is based on assumptions that management considers\nreasonable as of the date of this news release, including assumptions\nregarding the accuracy and completeness of historical exploration data, the\ninterpretation of geological and geophysical information, the availability of\nqualified personnel and contractors, the Company’s ability to obtain\nrequired permits and financing, market demand for nickel, copper, cobalt and\nPGMs, and general business, economic, regulatory and capital market\nconditions. Forward-looking information is subject to known and unknown risks,\nuncertainties and other factors that may cause actual results, performance or\nachievements to differ materially from those expressed or implied, including\nrisks related to mineral exploration and development, the absence of current\nmineral resources or reserves at the Project, uncertainty that the exploration\ntarget will be delineated as a mineral resource, limitations of historical\ndata, changes in exploration plans or budgets, commodity price volatility,\ncurrency fluctuations, permitting and regulatory risks in Brazil,\nenvironmental and social risks, availability of financing, title and access\nrisks, operational risks, and general economic and market conditions.\n\nReaders are cautioned not to place undue reliance on forward-looking\ninformation. Except as required by applicable law, Bahia Metals Corp.\nundertakes no obligation to update or revise any forward-looking information,\nwhether as a result of new information, future events or otherwise.\n\nPhotos accompanying this announcement are available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/9ef9b48b-9266-4912-9191-33192664f7d3\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/6b386432-deb7-4ea1-a719-d160c201188b\n___________________________________\n(1)( “NI 43-101 Technical Report Project Status Report Mangueiros Ni-Cu-Co\nProject Bahia, Brazil” dated January 6, 2026, with an effective date of\nNovember 15, prepared by Douglas Reid, P. Eng of SRK.)\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/c4f7685b-e7a2-4a46-af2e-07539f693294)\nThe Mangueiros Nickel-Copper-Cobalt-PGM \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/9ef9b48b-9266-4912-9191-33192664f7d3/en)\nFigure 1. The Mangueiros Nickel-Copper-Cobalt-PGM Project in Bahia State,\nBrazilMangueiros Project Area \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/6b386432-deb7-4ea1-a719-d160c201188b/en)\nFigure 2. Robust geophysical anomalies identified at Mangueiros Main and\nMangueiros West\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-07-27T13:00:00.884512207Z","server_sent_at_ms":1785157200884},"received_at":"2026-07-27T13:00:00.959Z","source_url":"https://www.globenewswire.com/news-release/2026/07/27/3333582/0/en/bahia-metals-technical-review-reinforces-the-potential-of-the-mangueiros-main-project.html"},"analysis":{"id":"88189","press_release_id":"99150","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Exploration target is conceptual in nature; insufficient data to define a mineral resource","No current mineral resources or reserves defined at the project"],"eventType":"operations_update","narrative":"Bahia Metals announced that a technical review has reinforced the potential of its Mangueiros Main project, outlining a conceptual exploration target of 75 to 200 million tonnes grading 0.20% to 0.25% nickel sulphide.\n\nDrilling has defined mineralization over a 2 km strike length with widths up to 500 meters, and preliminary metallurgical testing demonstrated nickel recovery rates between 79.7% and 91.5%.\n\nThe company also approved an amendment extending the expiry of 2,445,000 warrants to April 3, 2027, and plans to advance the project toward a maiden Mineral Resource Estimate.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Exploration update confirms historical targets but no resource defined yet."},"keyFigures":{"customDimensions":{"width_meters":500,"strike_length_km":2,"total_drill_holes":86,"total_drill_meters":12786,"warrant_exercise_price":0.5,"warrants_amended_count":2445000,"mangueiros_drill_meters":10005,"exploration_target_grade_nis":"0.20%-0.25%","exploration_target_tonnage_mt":"75-200","nickel_recovery_blebs_percent":"81.2% to 91.5%","nickel_recovery_disseminated_percent":"79.7% to 81.9%"}},"quotedText":"Mangueiros Main represents a strong critical minerals exploration opportunity.","namedEntities":{"people":[{"name":"Stephen Goodman","role":"CEO and Director"},{"name":"Douglas Reid","role":"P. Eng., SRK Consulting"},{"name":"Paul Sarjeant","role":"P.Geo., Qualified Person"}],"products":["Mangueiros Main","Mangueiros West","Lagoa da Onça","Lagoa da Onça North"],"companies":[{"name":"Bahia Metals Corp.","ticker":"BMT"},{"name":"SRK Consulting","relationship":"technical report author"},{"name":"Appian Capital Advisory Limited","relationship":"related party (original project advancer)"},{"name":"Canadian Securities Exchange","relationship":"exchange"}],"dollarAmounts":[{"amount":"$5.75 million","context":"initial public offering gross proceeds"},{"amount":"$0.50","context":"warrant exercise price"}]},"materialImpact":{"score":2,"reasoning":"Exploration update confirms historical data and sets a conceptual exploration target, but no mineral resource is currently defined. The warrant extension is a minor administrative adjustment."},"tickerRelevance":{"others":[],"primary":"BMT"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"exploration_update","sectorWeight":"materials"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":2,"narrative":"Bahia Metals announced that a technical review has reinforced the potential of its Mangueiros Main project, outlining a conceptual exploration target of 75 to 200 million tonnes grading 0.20% to 0.25% nickel sulphide.\n\nDrilling has defined mineralization over a 2 km strike length with widths up to 500 meters, and preliminary metallurgical testing demonstrated nickel recovery rates between 79.7% and 91.5%.\n\nThe company also approved an amendment extending the expiry of 2,445,000 warrants to April 3, 2027, and plans to advance the project toward a maiden Mineral Resource Estimate.","key_figures":{"customDimensions":{"width_meters":500,"strike_length_km":2,"total_drill_holes":86,"total_drill_meters":12786,"warrant_exercise_price":0.5,"warrants_amended_count":2445000,"mangueiros_drill_meters":10005,"exploration_target_grade_nis":"0.20%-0.25%","exploration_target_tonnage_mt":"75-200","nickel_recovery_blebs_percent":"81.2% to 91.5%","nickel_recovery_disseminated_percent":"79.7% to 81.9%"}},"named_entities":{"people":[{"name":"Stephen Goodman","role":"CEO and Director"},{"name":"Douglas Reid","role":"P. Eng., SRK Consulting"},{"name":"Paul Sarjeant","role":"P.Geo., Qualified Person"}],"products":["Mangueiros Main","Mangueiros West","Lagoa da Onça","Lagoa da Onça North"],"companies":[{"name":"Bahia Metals Corp.","ticker":"BMT"},{"name":"SRK Consulting","relationship":"technical report author"},{"name":"Appian Capital Advisory Limited","relationship":"related party (original project advancer)"},{"name":"Canadian Securities Exchange","relationship":"exchange"}],"dollarAmounts":[{"amount":"$5.75 million","context":"initial public offering gross proceeds"},{"amount":"$0.50","context":"warrant exercise price"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-27T16:18:21.643Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"micro-cap","eventGravity":"exploration_update","sectorWeight":"materials"}},"durationMs":null,"modelName":"glm-4.7"}}