Enova Mining Advances Exploration at Santo Antônio do Jacinto Project

Enova Mining's First Exploration at Santo Antônio do Jacinto Reveals Promising Potential for Rare Elements

Enova Mining Limited (ASX: ENV) has completed its maiden geochemical sampling program at the Santo Antônio do Jacinto project in Brazil's Minas Gerais state, marking a significant first step in evaluating the area's rare element potential. The company collected 52 rock chip samples across its 23,409-hectare tenement package, establishing the first-ever systematic exploration of this greenfield opportunity.

Untapped Potential in Brazil's Mineral-Rich Araçuaí Orogen

The Santo Antônio do Jacinto project is strategically positioned within the fertile Araçuaí Orogen, a globally recognized rare earth and critical minerals province. This completely unexplored tenement package represents a true greenfield opportunity for Enova to potentially add substantial value to its growing critical minerals portfolio.

"Enova's exploration team's high rate of discovery success at major projects such as Coda and East Salinas and strong prospectivity potential of our tenements put us in good stead for continued success," stated Eric Vesel, CEO and Executive Director of Enova Mining.

The sampling program, conducted in August 2025, was designed to establish a geochemical baseline, assess regional geology, and generate priority targets for follow-up work. Results are expected by the end of September 2025.

Favorable Geological Setting for Rare Element Mineralization

The Santo Antônio do Jacinto Granite is a late- to post-tectonic intrusion represented by a large elliptical batholith covering approximately 350 square kilometers. Field observations during exploration at Enova Mining Ltd's Santo Antônio do Jacinto revealed extensive porphyritic granite outcrops consistent with the company's geological model for rare element enriched hard-rock and regolith systems.

The collected samples were primarily taken from areas showing low magnetic anomalies (ranging from approximately -22 nT to 100 nT), which are representative of felsic granitic rocks. This correlation between magnetic anomalies and geological units, particularly within granitic terrains, provides valuable insights into potential rare element enrichment zones.

Key geological features observed during sampling include:

• Leuco-granite with light-colored, coarse-grained texture composed predominantly of quartz and feldspar
• Porphyritic texture characterized by large, well-formed feldspar phenocrysts embedded within a finer-grained granitic matrix
• Type-I porphyritic granite classification, highlighting strong geological significance within the broader Jequitinhonha region

Understanding Ion Adsorption Clay Deposits: A Critical Source of Rare Earth Elements

Ion adsorption clay (IAC) deposits represent one of the most commercially important sources of heavy rare earth elements (HREEs) globally. Unlike traditional hard-rock deposits, IACs form when rare earth elements leach from their parent rocks and become loosely bound to clay minerals through ion-exchange processes.

These deposits are particularly valuable because:

1. They contain higher proportions of the most commercially valuable rare earth elements, including dysprosium, terbium, and yttrium
2. The mineralization is easily extractable using simple leaching methods
3. They typically contain minimal radioactive elements like thorium and uranium

The geological setting at Santo Antônio do Jacinto, with its extensive granite outcrops undergoing weathering in a tropical climate, presents favorable conditions for the formation of such deposits. The systematic sampling approach will help identify areas where these valuable clay deposits may have developed.

Next Steps: Refining Targets and Accelerating Exploration

Following the completion of this maiden regional geochemical sampling program, Enova is advancing to a more detailed, tightened grid sampling initiative. This next phase will focus on refining high-priority targets through closer-spaced sampling, enabling more precise delineation of potential rare element mineralization zones.

The results will directly support drill planning, with the objective of fast-tracking the definition of drill-ready targets and unlocking the full potential of this strategically located critical minerals asset. Additionally, the company is planning a diamond drilling campaign at East Salinas to further expand their exploration efforts.

Brazil: A Premier Mining Destination

Brazil offers a stable, low-risk environment for mining investment, underpinned by a well-established and globally competitive resources sector. As a top exporter of iron ore, gold, bauxite, lithium, rare earths and more, Brazil—particularly the states of Minas Gerais and São Paulo—recognizes mining as a cornerstone of economic development.

The country boasts investor-friendly policies, with no government ownership mandates, minimal interference, and a progressive regulatory framework encouraging exploration and new project development. Brazil's attractive cost structure, highly skilled workforce, advanced mining services sector, and robust infrastructure further enhance its status as a prime destination for resource investment.

Expanding Enova's Critical Minerals Portfolio

The Santo Antônio do Jacinto project complements Enova's existing portfolio of critical mineral assets in Brazil and Australia, which includes:

• The CODA Group of Projects – prospective for clay-hosted rare earth elements and titanium discovery
• The Poços de Caldas Project – a promising ionic adsorption clay REE opportunity
• The Charley Creek Project – prospective for alluvial rare earths, rubidium, and uranium
• The Lithium Valley Projects – including Santo Antonio Do Jacinto, Caraí, Santo Antônio do Jacinto, and Resplendor

Enova is simultaneously advancing work on several projects, with metallurgical studies at CODA focused on the concentration of titanium, REE, niobium, and scandium metals. The company is also conducting auger drilling at East CODA and planning a diamond drilling program at East Salinas.

Why Investors Should Take Note of Enova Mining

Enova Mining presents a compelling investment opportunity in the critical minerals sector for several key reasons:

1. Strategic Asset Portfolio: With over 82,265 hectares of tenements in Brazil, Enova has established a significant footprint in one of the world's most prospective regions for rare earth elements and critical minerals.

2. Systematic Exploration Approach: The company employs rigorous, data-driven exploration methods, utilizing advanced techniques such as hyperspectral analysis to identify high-potential targets.

3. Diversified Project Pipeline: Enova is advancing multiple projects simultaneously at different stages of development, creating multiple potential value-creation opportunities.

4. Experienced Technical Team: The company's exploration success at projects like CODA and East Salinas demonstrates its technical capability to identify and develop critical mineral resources.

5. Exposure to High-Growth Market: Critical minerals, particularly rare earth discovery in Brazil are essential components in renewable energy technologies, electric vehicles, and advanced electronics—all rapidly growing markets.

With assay results from exploration at Enova Mining Ltd's Santo Antônio do Jacinto expected by the end of September, near-term catalysts could provide investors with valuable insights into the project's potential and Enova's growing position in the critical minerals space.

The exploration at Enova Mining Ltd's Santo Antônio do Jacinto represents a strategic expansion of the company's footprint in Brazil's mineral-rich Minas Gerais state. As global demand for critical minerals continues to grow, particularly for applications in clean energy technologies and advanced electronics, Enova is well-positioned to capitalize on the potential of its diversified project portfolio. In contrast, other mining companies like Lachlan Star with copper-gold targets and Askari Metals' tin-tantalum discovery are also making strides in different mineral sectors, highlighting the diverse opportunities in the global mining landscape.

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