Bahia Metals delivers 313M tonnes inferred resources at 0.33% Ni at Mangueiros

VANCOUVER, British Columbia, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Bahia Metals Corp. (CSE: BMT) (“Bahia” or the “Company”) announces an initial, pit-constrained Mineral Resource Estimate (“MRE”) for Mangueiros Main, its flagship sulphide nickel-copper-cobalt-platinum group metals (“PGM”) asset in Bahia State, Brazil.

The initial MRE defines 313 million tonnes of Inferred Mineral Resources at 0.33% Nickel Total Equivalent. The MRE was prepared by P&E Mining Consultants Inc. (“P&E”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and CIM Definition Standards for Mineral Resources and Mineral Reserves (May 10, 2014) and has an effective date of April 22, 2026.

Stephen Goodman, Bahia Metals CEO and Director, commented: “ The delivery of the independent Mineral Resource Estimate, less than a year after our IPO, is a defining milestone for Bahia Metals and our flagship asset, Mangueiros Main. With the MRE complete, the Company will continue to assess the development potential of Mangueiros Main.

The scale of this sulphide nickel Mineral Resource, with substantial copper and cobalt credits, provides a technical foundation for advancing a Preliminary Economic Assessment (“PEA”) for Mangueiros Main. The Company is pleased that the MRE exceeds the upper end of the historical exploration target tonnage range for the project (source: SRK Consulting, effective date November 15, 2024).”

Mineral Resource Highlights

313 million tonnes of pit-constrained Inferred Mineral Resources grading 0.18% Nickel Sulphide (“NiS”), 0.22% Nickel Total (“NiT”), 0.13% copper (“Cu”) and 0.015% cobalt (“Co”).

Equivalent grades of 0.27% nickel sulphide equivalent (“NiSEq”) and 0.33% nickel total equivalent (“NiTEq”).

Contained metal of approximately 554,000 tonnes NiS, 675,000 tonnes NiT, 411,000 tonne