News Releases

Highlights Include 44.5m at 2.07g/t PGM+Au, 24.0m at 2.98*g/t PGM+Au and 16.0m at 4.11g/t PGM+Au

VANCOUVER, March 21, 2022 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) announced that it has received assay results from twenty-seven diamond drill holes (“DDH”) concentrated mostly in the Northern Sector of 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.

“The latest results from Luanga’s Northern Sector continue to provide excellent results, comparing well with historic drilling on nearby drill sections, in both tenor and mineralized thickness. Results also confirm that rhodium is a significant part of the Luanga project, with unique high-grade levels of rhodium now identified in all three Sectors at Luanga.” Drilling in the Northern Sector has not yet made significant progress into the basal ultramafic footwall; however, we still see evidence for increasing levels of magmatic nickel sulphides as drilling approaches the basal position,” said Luis Azevedo, Chairman and CEO of Bravo. “We look forward to starting the Phase 2 program including testing the potential depth extents of Luanga PGM+Au+Ni mineralization combined with testing the potential for magmatic nickel sulphide mineralization at depth.”

Highlights Include:

• Assay results received from drilling in the Northern Sector compare well with intercepts in historic drilling on nearby drill sections both in tenor and mineralized thickness.
• Mineralization in the Northern Sector of Luanga is typified by multiple stacked zones of PGM+Au mineralization, with magmatic nickel sulphide mineralization appearing to be more prevalent on the footwall (basal) ultramafic side of the system.
• Surface geophysical programs have commenced with detailed ground magnetics. Fixed Loop ground electromagnetics (EM) will commence on arrival of the EM crew, while micro-gravity surveying will be completed after the detailed magnetic survey. All geophysical surveys will start in Luanga’s Central Sector, where the basal (footwall) harzburgite (ultramafic) sequence is significantly thicker, and nickel potential expected to be better, supported by recent higher-grade nickel intercepts.

Notes:
All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material. ‘EOH’ End Of Hole.
Given the orientation of the hole and the mineralization, the intercepts are estimated to be 75% to 95% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
* Includes result/s Rh >1.00g/t requiring re-assay with a higher detection limit, results pending.
** Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays

Luanga Northern Sector Infill Drilling

Drill results received from Luanga’s Northern Sector, like results from the rest of the Luanga trend, continue to compare well with intercepts in historic drilling on nearby drill sections, in both tenor and mineralized thickness (see Sections 1, 2, 3). Together, Figures 1 and 2 show an ~2.5km strike perspective of Luanga’s Northern Sector, where results presented in this press release can be viewed on a broader scale, displayed over nickel-in-soil geochemistry The ultramafic footwall is towards the eastern (right-hand) side of the figures.

Figure 1: Northern Sector A. Results consistent with historic drilling, with drilling now closed to 100m spaced sections.

Figure 2: Northern Sector B. Results consistent with historic drilling, with drilling now closed to 100m spaced sections.

Figure 3 (Section 1 on Figure 6) is typical of mineralization in the Northern Sector of Luanga, where multiple stacked zones of PGM+Au mineralization are hosted in the orthopyroxenite transitional zone, while the footwall ultramafic and its associated more significant magmatic nickel sulphide mineralization is yet to be encountered below.

Figure 3: Northern Sector Section 1 – Multiple stacked zones of mineralization.

Figure 4 (Section 2 on Figure 6) again shows multiple stacked zones on PGM+Au mineralization hosted in the orthopyroxenite transitional zone, while the footwall ultramafic is yet to be encountered below.

Figure 4: Northern Sector Section 2 – Multiple stacked zones of mineralization.

Figure 5 (Section 3 on Figure 6) is the most southerly section of the Northern Sector. Here multiple stacked zones of mineralization have started to give way to a lesser number of thicker zones of mineralization (typical of the Central Sector) while, at the same time, mineralization passes through vertical in inclination and becomes steeply dipping to the east, where it continues for the next >5km, through the Central and Southwest Sectors (see sections in a previous news release featuring the Central Sector, February 28^th, 2023.

Figure 5: Central Sector Section 3 – Multiple zones begin to give way to a lesser number of thicker zones as seen in the Central Sector.

Luanga Drill Program Progress

A total of 160 drill holes (25 in 2023) have been completed by Bravo to date, for 27,794 metres, including all 8 planned twin holes and all 8 metallurgical holes (not being subject to routine assaying).

Results have been reported for 85 Bravo drill holes to date. Excluding the metallurgical holes, results for48 Bravo drill holes are currently outstanding.

Approximately 9 priority drill holes (4 currently in progress) remain to complete the redrill of the historic mineral resource area. Once these holes are completed and results received, preparation of Bravo’s maiden mineral resource estimate for Luanga will commence, and drilling will shift to Phase 2.

The Phase 2 program of work will focus on step out and exploration. Extensional drilling has the objective of extending known zones of PGM+Au+Ni mineralization at depth, below the approximate 150m vertical depth previously defined by historic drilling.

The Phase 2 program also includes a significant budget allocation for exploration. This work will focus on following up newly identified higher-grade magmatic nickel (± copper) sulphide mineralization types identified within the Luanga footwall (stratigraphically below PGM+Au mineralization), the potential feeder zone(s) to Luanga, and the exploration of new targets outside of the currently defined mineralized trends.

Complete Table of Recent Intercepts

Notes:
All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material. ‘EOH’ End Of Hole.
Given the orientation of the hole and the mineralization, the intercepts are estimated to be 75% to 95% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
* Includes result/s Rh >1.00g/t requiring re-assay with a higher detection limit, results pending.
** Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays

DDH22LU095 returned no significant results, whiles holes DDH22LU060 and 063 intercepted only weak mineralization, as these holes are on the far east of their respective sections, having passed over the top of the mineralization. DDH22LU096 is on the western end of a section outside the limits of known mineralization.

Figure 6: 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 “multiple”, “concentrated”, “excellent”, “compare”, “confirm”, “significant”, “unique”, “high-grade”, “increasing”, “approaches”, “potential”, “appear”, “prevalent”, “better”, “supported”, variants of these words and other similar words, phrases, or statements that certain events or conditions “will” or occur. This news release contains forward-looking information pertaining to the Company’s ongoing drill programs and the results thereof; the expected completion of geophysical surveys and the results of such surveys; the potential for the definition of new styles of mineralization and extensions to depth, the interpretation that Ni grades increase in the basal portions of the intrusion, the potential for a feeder zone(s) 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 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 ALS 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 ALS laboratory by Bravo staff. Additional information about the methodology can be found on the ALS global website (ALS) in their analytical guide. 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.