News Releases

Results Include 11m @ 4.24 g/t 3PGM+Au, 2.04% Nickel + 1.23% Copper

VANCOUVER, October 17, 2022 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) today announced that high-grade PGM assay results have been received for previously released diamond drill hole DDH22LU047.  Hole  DDH22LU047intercepted high-grade nickel and copper  at its Luanga palladium + platinum + rhodium + gold + nickel (PGM+Au+Ni) project (“Luanga”), located in the Carajás Mineral Province, state of Pará, Brazil.

The high-grade intercept in hole - DDH22LU047 graded 4.24 g/t 3PGM+Au with 2.04% nickel and 1.23% copper over 11.04m and occurs in massive and semi-massive sulphides.

“As announced in Bravo’s August 16th, 2022 news release, high-grade nickel-copper mineralization had not been previously observed at Luanga. This discovery suggests potential for other metals and styles of mineralization than previously intercepted at Luanga, and we are extremely encouraged that it also contains high grade PGMs," said Luis Azevedo, Chairman and CEO of Bravo. "Downhole EM has commenced and should greatly assist in targeting follow up drilling, whilst surface EM has the potential to identify other massive and semi-massive sulphide mineralization along Luanga’s 8.1 km mineralized strike.”
Highlights:

Notes:  All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 85% of true thickness.
Type: FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

• Two diamond drill holes have been completed on each of two drill sections located 50m north and south of DDH22LU047.
• All four step-out drill holes have intersected varying amounts of semi-massive sulphides. Assay results are pending.
• Drill rigs have been temporarily moved clear of the area while borehole electromagnetic surveys (“EM”) are completed on these four step-out drill holes.
• Following the completion of borehole EM, surface fixed loop EM will commence over the entire Luanga deposit.

DDH22LU047: High grade massive sulphide PGM + nickel + copper mineralization at 136.0m*

* Downhole depth

Luanga Drill Program

The Phase 1 diamond drill program continues as planned at Luanga. Six drill rigs are on site, with drilling progressing in various locations along the entire 8.1km strike length of the known Luanga mineralized envelope (as defined by historic drilling). To date, 91 drill holes have been completed, for a total of 15,554 metres of the planned 25,500 metre Phase 1 drill program.

Additional details for Intercept in Hole -047

Notes:  All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 85% of true thickness.
Type: FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

Location of Bravo Drilling Reported in this Document

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 “potential”, “assist”, “suggest”, and other similar words, phrases or statements that certain events or conditions “should”, or “will” occur.

In particular, this news release contains forward-looking information pertaining to the Company’s ongoing drill program and the results thereof, including the assay results for the four step-out holes near hole -047 that intercepted semi-massive sulphides; the results of geophysical surveys; the potential for the definition of new styles of 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, 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 the interpreted mineralization contains significant values of nickel, copper and also contain PGMs and Au; 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 the analytical guides. IN this case a split is collected by Bravo staff and securely delivered to the Intertek laboratory in Parauapebas where it was assayed by high priority for ore grade Ni and Cu.

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.