News Releases

Highlights include 45.2m at 1.89g/t PGM+Au, 0.20% Ni; 50.0m at 1.79g/t PGM+Au; And 1.0m at 1.51% Ni

VANCOUVER, June 13, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), ("Bravo" or the "Company") announced that it has received assay results from a further ten infill diamond drill holes ("DDH") from its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga" or "Luanga PGM+Au+Ni Project"), located in the Carajás Mineral Province, state of Pará, Brazil. 

"Recent drilling in the Southwest Sector (DDH23LU142) has intercepted the first evidence of magmatic nickel sulphide mineralization outside that previously intersected in the North Sector (August 16^th, 2022 news release). This indicates the potential for nickel sulphides at depth along the entire 8.1km strike of the Luanga project. Coupled with the continuing evidence of elevated levels of disseminated nickel sulphides throughout the Central Sector, a HeliTEM survey across the entire Luanga land package has begun, designed to find indications of massive sulphides targets," said Luis Azevedo, Chairman and CEO of Bravo. "The Phase 2 drill program is progressing as planned, with drilling completed to date (assays pending) shown in Figure 4 for reference. This shows where drill coverage is heading and where future results will come from as we begin to explore the next 150m interval of mineralization vertically below the top 150m defined by historical work and Bravo's Phase 1 program."

Highlights Include:

• DDH23LU142 intersected the first evidence of magmatic nickel sulphide mineralization in the in the Southwest Sector (Figure 1).
• Drilling in the Central Sector continues to intercept magmatic nickel sulphides at depth, where results from Bravo's drilling outperform historical shallower drill results.
• Assay results continue to compare well with that of historic drilling on nearby drill sections, both in tenor and mineralized thickness.
• Deeper drilling (Phase 2 program) commenced in the Central Sector, systematically stepping back and extending drill coverage at depth on each section.
• HeliTEM (airborne electromagnetics) over the entire area (7.810ha) of the Luanga project has begun.

Notes: All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.
Given the orientation of the hole and the mineralization, the intercepts are estimated to 110% to 130% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

Luanga Drilling Update

Results from a further 10 diamond drill holes have been received, six from the Southwest Sector and four from the Central Sector. Results continue to compare well with intercepts in historic drilling on nearby drill sections. 

In the Southwest Sector (Figure 1), a 10-15cm zone of magmatic nickel sulphide mineralization was intersected, providing the first evidence of massive sulphides in the Southwest Sector. Assay results also show consistency with historical results for PGMs compared with intercepts in historic drilling on neighbouring drill sections.

Figure 1: Core Photos (DDH23LU142) showing first evidence of magmatic nickel sulphide mineralization in the Southwest Sector.

Elevated nickel values continue to be a feature of the Central Sector, broadly showing an enrichment in disseminated magmatic nickel sulphide throughout the Central Sector (Figure 2) compared to the North and Southwest Sectors. Drilling in the Central Sector continues to show mineralization dominated by one particularly thick continuous zone of mineralization (Figure 3 – Section 1), extending for kilometres of strike in the Central Sector. 

The Phase 2 program, focused on extending drill coverage at depth beyond the coverage of historical drilling, is progressing well. Completed drill holes which are pending assay results are highlighted on Figure 4, demonstrating the pattern of step out drilling on each section through this Sector. Section 1 shows the beginnings of the Phase 2 extensional drilling, in this case extending depth coverage on this section to >250m from surface.

A total of 182 drill holes (47 in 2023) have been completed by Bravo to date, for 34,149 metres, including all 8 planned twin holes and all 8 metallurgical holes (not subject to routine assaying). 

Results have been reported for 148 Bravo drill holes to date. Results for 26 Bravo drill holes are currently outstanding (excluding the metallurgical holes). As evidenced by the constantly decreasing number of holes outstanding at the laboratory, optimization of our assay process is having a positive impact on turnaround times as compared to 2022.

Completed drill holes with results pending are highlighted on Figure 4.

Figure 2: Central Sector (~2km strike) plan showing excellent results at depth, including consistently higher nickel assay results.

Figure 3: Central Sector (Section 1 on Figure 4) – Continuation of mineralization at depth, with relatively higher nickel assay results.

Complete Table of Recent Intercepts

Notes: All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.
Given the orientation of the hole and the mineralization, the intercepts are estimated to 110% to 130% of true thickness. 
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays

Figure 4: Location of Bravo Drilling and Sections Reported in this News Release

About Bravo Mining Corp.

Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo's current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

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:

Alex Penha
EVP Corporate Development
info@bravomining.com

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 "compare well", "elevated", "anticipated", "future results", "continues", 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 including the potential for additional massive Ni sulphides in the Southwest Sector; elevated Ni sulphide grades and the interpretation of a single main mineralized zone in the Central Sector; the comparisons to historical and prior Bravo drilling; the expected commencement of airborne geophysical surveys; the potential for extensions to mineralization at depth; 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 mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that Ni grades are improving to depth, that final drill and assay results will be in line with management's expectations; 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 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 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.