BMV Secures Option on Santa Teresa Gold Project

07 September 2026

Bluebird Mining Ventures Ltd

("BMV" or the "Company")

BMV Secures Option to Acquire High-Grade Santa Teresa Gold Project, Mexico

Option secured over an existing independently reported high-grade gold resource with significant district-scale exploration potential

Bluebird Mining Ventures Ltd (LSE: BMV) is pleased to announce that it has entered into an agreement securing an exclusive option to acquire 100% of El Alamo Resources Limited ("EARL"), which holds interests in the Santa Teresa Gold Project in Baja California, Mexico ("Santa Teresa" or the "Project").

Santa Teresa has an existing NI 43-101 Inferred Mineral Resource of 230,000 tonnes at 8.7 g/t Au containing 64,000 ounces of gold, with extensive historic and modern exploration supporting BMV's rationale for evaluating the potential for a materially larger mineralised system.

The transaction follows the appointment of Paul Allen Ray, CEO of Raptor Capital International ("Raptor"), to BMV's Board Advisory Committee in January 2026 and the subsequent collaboration between BMV and Raptor to identify and evaluate gold opportunities. Santa Teresa is the first significant project to emerge from that relationship.

Highlights

·      BMV has secured an exclusive 120-day option to acquire 100% of EARL and its interests in Santa Teresa.

·      Existing NI 43-101 Inferred Mineral Resource of 64,000 oz at 8.7 g/t Au, using a 4.0 g/t cut-off and grades capped at 20 g/t.

·      The same resource model calculates 282,000 oz at 38.2 g/t Au on an uncapped basis. This is not a reported mineral resource but illustrates the exceptionally high-grade and variable nature of the mineralisation.

·      Historic production across the wider El Alamo district is estimated at approximately 100,000 to 200,000 oz of gold.

·      Significant previous exploration includes 7,025 metres across 32 diamond holes by Premier Gold Mines, together with extensive historic drilling on adjoining concessions.

·      BMV intends to seek to consolidate adjoining concessions and undertake targeted work to determine the potential to expand the existing resource.

·      Initial cash commitment of £75,000, with £250,000 in BMV shares payable on completion.

·      Further consideration is payable only upon independently verified resource milestones of 250,000 oz, 500,000 oz and 1 million oz.

·      Subject to completion, Paul Ray is expected to act as Principal Project Lead, working alongside BMV management and independent technical advisers.

Transaction Terms

BMV pays £75,000 to secure the option and 120-day exclusivity period. If BMV exercises the option and the acquisition completes, BMV will issue £250,000 of new ordinary shares, priced according to an agreed market-price methodology immediately preceding completion.

Further consideration will become payable upon independently verified mineral resources reaching:

Aggregate acquisition consideration therefore reaches £3.0 million only if an independently verified resource of at least 1 million ounces is established. Milestone consideration may, at BMV's election, be satisfied in cash, BMV shares or a combination.

The Seller will additionally retain a 1% net smelter return royalty. The resource thresholds are consideration milestones only and should not be interpreted as estimates or forecasts of future mineral resources.

Project Opportunity

Gold was discovered in the El Alamo district in 1888, with subsequent historic production estimated at approximately 100,000 to 200,000 ounces.

Modern exploration includes Premier Gold Mines' 7,025-metre drilling programme at Santa Teresa and extensive historic Calais Resources drilling on adjoining ground. Calais reported multiple narrow, exceptionally high-grade intersections, including grades exceeding 100 g/t Au. These historic results are not current mineral resources but contribute to BMV's rationale for evaluating Santa Teresa as part of the wider El Alamo mineralised system. The 2016 APEX technical report identifies additional exploration potential both within Santa Teresa and immediately north-west of the existing claim. The same resource model calculates approximately 282,000 ounces at 38.2 g/t Au when grades are not capped at 20 g/t. This uncapped calculation is not a reported mineral resource, and APEX does not recommend its use for mineral-resource reporting.

BMV's strategy is to seek to consolidate the relevant concessions, integrate the substantial historic geological database and undertake targeted exploration and technical work to determine the potential to expand the existing independently reported resource.

Raptor Collaboration and Project Leadership

Paul Ray joined BMV's Board Advisory Committee in January 2026, bringing nearly five decades of international mining and exploration experience. Since his appointment, BMV and Raptor have collaborated on identifying and evaluating gold opportunities. Subject to completion, Paul is expected to act as Principal Project Lead for Santa Teresa, initially focusing on concession consolidation, integration of historic technical information and development of the programme required to advance the Project towards an updated independent mineral resource.

Paul is also the Seller and sole director of EARL. Accordingly, he has not participated and will not participate on BMV's behalf in the evaluation, negotiation or approval of the acquisition, which is being considered by BMV's non-conflicted directors and advisers.

Sath Ganesarajah, Chief Executive Officer of BMV, commented: "This transaction reflects the direction in which we are repositioning BMV. Following the recent disposal of our Asian gold assets, where we saw no clear near-term route to monetisation or cash flow, our focus is increasingly on acquiring gold interests where there are multiple credible pathways to value.

"Santa Teresa is fundamentally different. We are acquiring an interest in an established high-grade gold resource, with substantial historic investment and exploration already completed, while structuring the majority of the acquisition consideration around independently verified resource growth.

"Importantly, we are not dependent on a single development outcome. As the resource is consolidated and advanced, potential routes to monetisation could include development, partnership, sale or ultimately bringing production into BMV's emerging gold streaming platform.

"This is the model we want to pursue: acquire identifiable gold value on disciplined terms, increase that value through targeted work and retain flexibility over how and when we monetise it."

Further announcements will be made as appropriate.

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About Bluebird Mining Ventures Ltd

Bluebird Mining Ventures Ltd (LSE: BMV) is a gold streaming, mining and treasury company focused on building long-term shareholder value through disciplined capital allocation into scarce real-world assets.

The Company applies a capital-light streaming and royalty model across opportunities in metals, energy and treasury management, seeking to generate recurring cash flows while maintaining a strong focus on balance sheet discipline and long-term net asset value growth.

Drawing on its heritage in precious metals, BMV aims to develop scalable investment platforms that provide exposure to scarce assets without the operational risks associated with direct ownership or operation.

For more information, please visit www.bmvbtc.com.