en.Wedoany.com Reported - Amapá Minerals Holdings Inc. (TSX: AMAP) has released its unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis (MD&A) for the three and six months ended June 30, 2026. The Company achieved its first gold pour on May 4, 2026, producing approximately 500 ounces of gold during the quarter and recognizing initial revenue of $1.2 million.

Regarding Q2 production data, the plant processed approximately 24,587 tonnes of stockpiled material from the start of production in May through June 30, with an average feed grade of 0.59 grams of gold per tonne and a metallurgical recovery rate of approximately 72.2%. Of the 500 ounces of gold produced during the quarter, approximately 162 ounces came from recovered legacy circuit gold. The Company has commenced gold sales, selling 291 ounces during the quarter.

Regarding the phased ramp-up execution, Phase 1 of the restart strategy has been completed, focusing on restarting the processing plant and commencing production using stockpiled material. The semi-autogenous grinding (SAG) mill is operational, ball mill commissioning continues, dewatering of the TAP AB open pit has been completed, and the Company has obtained an operating permit renewal.

On June 19, 2026, the Company published a technical report for the Amapá Project prepared in accordance with National Instrument 43-101, with an effective date of January 31, 2026. The report discloses measured and indicated mineral resources of approximately 61.23 million tonnes at an average grade of 0.988 g/t gold, containing approximately 1.94 million ounces of gold (including mineral reserves); and proven and probable mineral reserves of approximately 31.69 million tonnes at a grade of 1.111 g/t gold, containing approximately 1.13 million ounces of gold, supporting a 10-year open pit mine life plan.

As of June 30, 2026, the Company held cash and cash equivalents of $2.8 million, positive net working capital of $13.7 million, and total equity of $135.5 million. Total financial and debt-like liabilities amounted to $66.0 million, primarily consisting of long-term liabilities, with the majority denominated in Brazilian reais. CEO Ivan Truzzi stated that achieving first gold production marks the project's entry into the operational ramp-up phase, and the Company will leverage its strengthened balance sheet following the initial public offering (IPO) to focus on safely and efficiently delivering the ramp-up plan.

Subsequent to quarter-end, on July 30, 2026, the Company completed a full initial public offering of 127,272,728 common shares at an offering price of C$1.10 per share, raising total gross proceeds of C$140.0 million. Following the IPO, major shareholders exercised 28,581,117 common share warrants at an exercise price of C$1.00 per share, providing approximately C$28.5 million in additional equity capital to the Company.

Amapá Minerals is a Canadian gold mining company whose principal asset is the Amapá Project located in the state of Amapá in northern Brazil, situated in the Guiana Shield along the Vila Nova greenstone belt. The project is a gold mining operation with historical production of approximately 1.59 million ounces of gold between 2005 and 2022, equipped with a recently refurbished 10,000-tonne-per-day carbon-in-leach processing plant, which is now in the ramp-up phase. The Q2 2026 financial statements and MD&A are available under the Company's profile on SEDAR+ and on the Company's website at www.amapaminerals.com.

The scientific and technical information in this news release has been reviewed and approved by Wagner Palheiros (P.Eng.), Rodrigo Cordova (B.Sc. Mining Engineering), Juliano Lima (B.Sc. Geological Engineering), and Gabriel Freire (B.Sc. Geology), each of whom is an independent qualified person within the meaning of National Instrument 43-101 (NI 43-101). The mineral resource and mineral reserve information is derived from the "Technical Report on the Mineral Resources and Mineral Reserves of the Amapá Project, Amapá State, Brazil" (effective date January 31, 2026, dated June 19, 2026), which is available on SEDAR+.