News Releases

T5 Highlights include 13.4m at 2.9% Cu, 0.4g/t Au, including 2.2m at 10.2% Cu, 1.4g/t Au; And 3.2m at 8.0% Cu, 1.8g/t Au

VANCOUVER, November 19, 2024 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) is pleased to report that it has received assay results from seven additional drill holes at the “T5” copper-gold target at its 100% owned Luanga Project. T5 lies to the east of the Luanga PGM+Au+Ni deposit located in the Carajás Mineral Province, Brazil.

“Drilling at T5 continues to generate encouraging assay results, extending the footprint of mineralization to the east, where it remains open, and now covering ~300m of strike. DDH2405T015 again shows massive sulphide copper mineralization, similar to that observed 100m away in discovery hole DDH2405T002”, said Luis Azevedo, Chairman and CEO. “Further, a large circular magnetic anomaly, which lies between numerous important mineralized features in the T5 region, appears as an exciting drill target for a potential blind source to a larger system driving these events. In other important news, the Company surpassed 1,000 days without injury or reportable environmental incident, significant ESG milestones”.

• Drill hole DDH2405T015 (Figure 3) intercepted 13.39m at 2.93% Cu, 0.39g/t Au, including 2.16m at 10.23% Cu, 1.38g/t Au one hundred metres east of discovery hole DDH2405T002.

• Mineralization at T5 now covers ~300m of strike (Figure 3) and remains open to the east. Currently, ground geophysics (Induced Polarization) is in progress at T5.

• Exploration geophysics in the T5 region has highlighted a significant circular magnetic anomaly. Centrally located among T5, historic copper workings, Bravo’s high-grade massive sulphide intersected DDH22LU047 (August 16^th, 2022 news release), and the hydrothermal alteration that exists below Luanga in the footwall of the North sector, this anomaly could potentially be the source driving all these surrounding features.

• A single line of IP (Figure 4) has been completed over the magnetic anomaly, generating a large chargeability anomaly; additional lines of IP and drill testing are planned to follow up.

Drilling Highlights

Figure 1: Massive sulphide breccia copper mineralization in DDH2405T015 at T5 (133.40 – 133.60m downhole).

Figure 2: High-grade interval of breccia copper sulphide mineralization (from red line) in DDH2405T015 at T5 (132.93 – 135.09m downhole).

T5 Target – Exploration Update

Assay results have been received from diamond drill holes DDH2405T011 to DDH2405T017 at the T5 target, with assays pending for DDH2405T018 to 021. T5 is located 1km east of the Luanga PGM Deposit. This recent drilling, including the pending holes, comprises a total of eleven holes for 2,352 metres. The status of drilling at T5 is shown in Figure 3.

Drilling continues to define the continuation of mineralization to the east, where a plunge of approximately 20° to the east is interpreted to exist. To define and better understand the plunge structure interpreted to host the mineralization, an IP (Induced Polarization) geophysical survey is currently in progress.

DDH2405T012 (Figure 3) intercepted 3.20m at 8.00% Cu, 1.83g/t Au, 75m east of discovery hole DDH2405T002 (see press release May 28, 2023), which intercepted 11.48m at 14.3% Cu, 3.3g/t Au including 2.9m at 22.9% Cu, 3.6g/t Au. Drill hole DDH2405T015 (Figure 3), 100m east of DDH2405T002, intercepted 13.39m at 2.93% Cu, 0.39g/t Au, including 2.16m at 10.23% Cu, 1.38g/t Au, DDH2405T013 and DDH2405T016 (Figure 3) also both intersected the mineralized zone, demonstrating the continuation of mineralization on this section.

The most easterly drill hole to date, DDH2405T017 intercepted two zones of mineralization, an upper zone (2.05m at 0.92% Cu, 0.23g/t Au which aligns with known mineralization to date), and a second low grade zone of copper mineralization approximately 50m (downhole) below this. Mineralization consists of disseminated, veinlet and breccia hosted copper sulphides.

To the west, DDH2405T018 is testing the potential near surface (up-plunge), while DDH2405T019 tests for potential repetition to the south (Figure 3).

Mineralization observed to date continues to be of a typical of iron oxide copper-gold (IOCG)-style, as seen in other deposits around the Carajás. The sulphide assemblage, consisting of chalcopyrite with lesser pyrrhotite does not appear to change throughout the mineralization intercepted to date. Hydrothermal alteration associated with the Cu/Au mineralization forms a continuous zone following the trend to the east. This alteration zone consists of variable thicknesses and compositions, characterized by variable amounts of biotite-actinolite-calcite-scapolite-quartz-sericite.

Mineralization at T5 now covers ~300m of strike (Figure 3) and remains open to the east. An IP survey has commenced (4 lines) at T5, to better understand the structural controls of Cu/Au mineralization associated with the sulphide zone and potential extensions.

Figure 3: T5 Current drill status and results (DDH2405T11 off the map, see Figure 6).

Exploration in the T5 Region

Exploration in the region around the T5 target has recently shown several elements that, together, significantly elevate the potential implications of a large buried circular magnetic anomaly, shown in Figure 4.

The magnetic anomaly is proximal to the T5 target, which lies to the northeast. Recent geological mapping and reconnaissance has revealed historic copper workings to the southeast (Figure 5) of the magnetic anomaly, while to the east of the magnetic anomaly lies the high-grade massive sulphide (11m @ 2.04% Nickel + 1.23% Copper) intersected in Bravo drill hole DDH22LU047 (August 16^th, 2022 news release) and its related EM (electromagnetic) anomaly (Figure 4).

Furthermore, drilling in the North Sector at the Luanga PGM+Au+Ni deposit has consistently intersected hydrothermal IOCG-style hydrothermal alteration at the base of drill holes on the eastern edge of the North Sector (below the Luanga footwall), which is located directly west of the magnetic anomaly (Figure 4). This alteration is unrelated to the Luanga deposit and its uniquely different style of alteration.

With the recent discovery of the T5 target on the eastern side of the magnetic anomaly, the potential significance of this magnetic target has increased.

A single line of IP (Figure 4) has been completed over the magnetic anomaly, with additional IP and drill testing planned to follow.

Figure 4: The location of a large buried circular magnetic anomaly, and the weight of evidence surrounding this feature.

The IP line utilized a dipole-dipole arrangement, with electrode spacing of 25m (first pass), followed by a spacing of 50m (second pass). After data processing and interpretation, a pseudo section (Figure 5) was generated showing the presence of a significant chargeability anomaly. This may be indicative of sulphide concentration (disseminated, massive or semi-massive).

The association of a highly magnetic circular feature with a high chargeability anomaly, together with the nearby Cu and Ni/Cu sulphide occurrences at T5 (to the west) and in hole DDH22LU047 (to the east), along with the extensive IOCG hydrothermal alteration in the footwall of nearby Luanga North Sector all come together to create a credible potential blind source for a larger IOCG system.

The Company will first complete a (third pass) of dipole-dipole IP over the circular anomaly, with an electrode spacing of 80m, allowing greater depths to be effectively tested. Following this, the IP program at T5 will be completed.

Figure 5: IP Pseudo section showing the top of a significant chargeability anomaly, commencing from ~200m below surface.

Drill Results Status Update

A total of 342 drill holes have been completed by Bravo to date, for 72,674.35 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 304 Bravo drill holes to date. Assay results for 30 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes). A total of 43 trenches have been completed to date (for 8,317 metres), with results for 37 trenches reported and results for 6 trenches pending.

Complete Table of Recent Intercepts.

Figure 6: Drilling at T5, as reported in this News Release

Safety & Environment

Bravo has been exploring the Luanga mineralized system since early 2022, with peak activity levels seeing more than 100 people on site and up to six drills operating. Througout this period, Bravo has treated the safety of its employees, contractors, consultants and visitors and protection of the environment with the utmost priorty. Bravo appreciates the hard work and focus of the entire team on safety and environmental protection, which has resulted in more than 1,000 consective days without a lost time injury or reportable environmental incident. Safety and environmental protection represent two key components of Bravo’s Environmental, Social and Governance strategy.

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its PGM and copper-gold Luanga Project in the world-class Carajás Mineral Province, Para State, Brazil.

Bravo is one of the most active explorers in Carajás. The team, comprising of local and international geologists, has a proven track record of PGM, nickel, and copper discoveries in the region. They have successfully taken a past IOCG greenfield project from discovery to development and production in the Carajás.

The Luanga Project is situated on mature freehold farming land and benefits from being located close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and hydroelectric grid power. A fully funded +70,000 infill, step out and exploration drilling and trenching program is nearing completion in 2024. Bravo’s current Environmental, Social and Governance activities includes planting more than 30,000 high-value trees in and around the project area, and hiring and contracting locally.

Technical Disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company’s “qualified person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Mottram has verified the technical data and opinions contained in this news release.

For further information about Bravo, please visit www.bravomining.com or contact:

Luis Azevedo, Chairman and CEO or
Alex Penha, EVP Corporate Development
T: +1-416-509-0583
info@bravomining.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “potential”, “highlight”, “encouraging”, “exciting”, “larger”, “significant”, “high-grade”, “continuation”, “better”, “elevate”, variants of these words and other similar words, phrases, or statements that certain events or conditions “may” or “will” occur. This news release contains forward-looking information pertaining to the Company’s ongoing drill program and the results thereof; the potential for new and/or different styles of mineralization in some areas, such as IOCG-style, the presence of which is publicly well documented in the Carajás mineral province; whether or not the mineralization interested at T5 is in fact IOCG-style, some variant of such or another style of mineralization; the potential continuity of mineralization between holes; the grades and implications of unassayed holes; the visual identification of minerals in the core; whether the mineralization at T5 is open to expansion or not; whether the other anomalies are related to mineralization; whether the circular anomaly west of T5 represents economically significant mineralization or not and, if so, what grade and quantity; whether current and planned IP anomalies represent economically significant mineralization; and the Company’s plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted along strike and up and down dip; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo’s Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

Quality Assurance and Quality Control (“QAQC”) is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.