Bahia Metals Corp
VANCOUVER, British Columbia, Sept. 24, 2026 (GLOBE NEWSWIRE) -- Bahia Metals Corp. (CSE: BMT) ("Bahia" or the "Company") announces that it has filed on SEDAR+ an independent Technical Report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the initial Mineral Resource Estimate ("MRE") for the Company's Mangueiros Main Nickel-Copper-Cobalt Sulphide Project in Bahia State, Brazil.
The report, titled "Mineral Resource Estimate of the Mangueiros Main Nickel-Copper-Cobalt Sulphide Project, Bahia State, Brazil" (the "Technical Report"), has an effective date of April 22, 2026 and is dated September 24, 2026.
The Technical Report supports the initial MRE announced by the Company on August 10, 2026. There are no material differences between the MRE disclosed in that news release and the MRE contained in the Technical Report.
The Technical Report is available under the Company's profile at www.sedarplus.ca.
Mineral Resource Highlights
Large initial Mineral Resource: 313 million tonnes of pit-constrained Inferred Mineral Resources grading 0.18% nickel sulphide ("NiS"), 0.22% total nickel ("NiT"), 0.13% copper ("Cu") and 0.015% cobalt ("Co").
Equivalent grades: 0.27% nickel sulphide equivalent ("NiSEq") and 0.33% nickel total equivalent ("NiTEq").
Significant copper and cobalt contribution across the entire resource: Across the full 313 million-tonne Mineral Resource, copper and cobalt increase the grade from 0.22% NiT to 0.33% NiTEq. This is a 50% uplift over the total nickel grade, with copper and cobalt collectively contributing approximately one-third of the reported NiTEq grade.
Substantial contained-metal inventory: Approximately 554,000 tonnes NiS, 675,000 tonnes NiT, 411,000 tonnes Cu and 46,000 tonnes Co.
Pit-constrained Mineral Resource: The Mineral Resource is constrained within a conceptual open pit and reported at a 0.09% NiSEq cut-off grade.
Low estimated strip ratio: The conceptual resource pit has an estimated strip ratio of well below 1:1 waste to mineralized material.
Resource-growth potential: The MRE covers Mangueiros Main. Mineralization remains open in multiple directions, and the Company's additional district exploration targets are not included in the MRE.
Clear next step: The size, continuity and polymetallic nickel-copper-cobalt character of the Mangueiros Main Mineral Resource provide an appropriate basis for Bahia to proceed with the Preliminary Economic Assessment ("PEA").
1 US$ metal prices used were $7.50/lb Ni, $4.50/lb Cu and $20/lb Co. Process recoveries were 87% NiS, 82% Cu and 50% Co.
NiSEq% = NiS % + (Cu % x 0.566) + (Co % x 1.533); NiTEq% = NiT % + (Cu % x 0.647) + (Co % x 1.754).