News Releases

Highlights include 39.6m at 5.41g/t PGM+Au, 51.3m at 3.12g/t PGM+Au and 52.0m at 2.23g/t PGM+Au

VANCOUVER, August 13, 2024 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) has received assay results from seven trenches in the Central Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit (“Luanga deposit” or “Luanga PGM+Au+Ni deposit”), located in the Carajás Mineral Province, state of Pará, Brazil.

“Bravo’s trenching program continues to return excellent results, with grades higher than the average oxide grades reported in the  Mineral Resource Estimate (“MRE”). In addition, the greater lateral extent of oxide PGM+Au mineralization at surface is likely to increase the volume of oxide material,” said Luis Azevedo, Chairman and CEO of Bravo. “Furthermore, it is encouraging to see that trenching results from the Central Sector continue to follow the trend observed in the North Sector, with broad lateral distribution at surface, combined with supergene enrichment. With trenching now completed across more than half of the Luanga deposit, results continue to outperform expectations.”

Highlights Include:

• Results from the Central Sector trenches continue to demonstrate the broader lateral extent of surface oxide mineralization in comparison to the zones of primary (fresh rock) mineralization observed in drilling below the trenches (including 52m wide in TRC24LU007 and 51m wide in TRC24LU008).
• Results continue to confirm the presence of supergene enrichment in the saprolite zone (above the base of oxidation), encountering grades that are generally higher than MRE average grades for oxide mineralization.
• Grades in trenches further corroborate or improve upon intersections encountered by drilling in the underlying fresh rock, while higher-grade zones within trenches, such as TRC24LU001 (39.6m at 5.41g/t PGM+Au) also validate or surpass the high-grade intersections encountered by prior drilling.
• Results to date suggest more tonnes of oxide at higher grades, assuming similar cut-off grades to prior estimates.
• Trenching is planned to cover the entire 8.1km strike length of the Luanga deposit and, with work nearly complete in the Central Sector, only the Southwest Sector and a small portion of the North Sector remains.
• Outside of the main PGM+Au+Ni deposit, the project remains prospective for Cu+Au+/-Ni discoveries  with  drilling in progress at T5 and T6. This will be followed by drilling at new HeliTEM targets.

Notes:
All ‘From’, ‘To’ depths, and ‘Thicknesses’ are along the topographic surface. 
Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

Luanga Trenching Program

Trenching across the strike of the mineralization in the Central Sector (Figure 1) aims to better interpret near surface mineralization, reduce the distance/spacing between assay data points for later resource classification, and define the lateral extent, or dispersion of, surface oxide mineralization. The program continues to be successful, demonstrating that surface enrichment of surface oxide material is not confined to areas of more pronounced topographic relief, like the North Sector of the Luanga Deposit. Initially, the Central Sector, with its flatter terrain, was thought to have less potential for supergene enrichment and/or extensive lateral dispersion due to its lower topographic relief. However, this is now proven not to be the case as results from a further seven adjacent trenches (Figure 1) continue to demonstrate in the core of the Central Sector.  Further, the highest grades in the oxides appear to correlate with the up-dip projection of the Main Sulphide Zone (Figure 3).

Recent results continue to confirm the presence of supergene enrichment in the saprolite zone (above the base of oxidation), encountering grades that are generally higher than MRE average grades for oxide mineralization, and higher than grades reported in drilling intersections directly below the trenches (Figure 2). These new trench results support results reported previously for the first seven trenches at the Central Sector (see April 15^th 2024). Like previous Central Sector trenching, results again show significantly greater dispersion as compared to the mineralized thicknesses encountered in drilling below the trenches.

Trenches shown in Figure 1 cover the central part of the Central Sector. Trenching continues in the Central Sector, progressing towards the Southwest Sector. Figure 4 shows the location of trenches reported in this press release.

Figure 1: Arial View of Trenching in the Central Sector, with Assay Results

Figure 2 (Section 1) demonstrates the extent of surface oxide mineralization, in comparison to the thickness of  mineralization intersected by drilling in the primary (fresh rock) zone below the trench. This “mushrooming” of oxide mineralization in the supergene zone demonstrates the potential for increased volumes of oxide mineralization as compared to prior estimates, assuming similar cut-off grades. 

Trenching is continuing to cover the entire 8.1km strike length of the Luanga deposit, with work close to completion in the Central Sector, which will leave only the Southwest Sector and a small portion of the North Sector to complete the trenching program.

Figure 2: Central Sector (Section 1 on Figure 4) – Trenching showing supergene enrichment and lateral extents to surface mineralization. 

Figure 3 also shows a plan view of trench results reported in this press release, together with their geological mapping and interpretation. This work provides a consistent surface plan of mineralization which, when combined with the drill sections below, creates a far more accurate 3D of both geology and mineralization. This detail is  expected to enhance the accuracy and reliability of future MRE’s and 3D geological models. 

The same sampling, assay laboratory procedures and QAQC protocols as applied to drill core sampling are applied to trench samples.

Figure 3: Trenching in the Central Sector showing supergene enrichment and lateral extents to surface mineralization. 

Drill Results Status Update

A total of 315 drill holes have been completed by Bravo to date, for 67,168 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 267 Bravo drill holes to date. Assay results for 40 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).

Complete Table of Recent Intercepts - Trenching

Notes:
All ‘From’, ‘To’ depths, and ‘Thicknesses’ are along the topographic surface. 
Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

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

About Bravo Mining Corp.

Bravo is a Canadian 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 project is also prospective for copper-gold+/-nickel discoveries, as seen by recent drill intercepts in initial testing of geophysical targets outside of the main Luanga PGM+Au+Ni deposit (see news releases dated May 28, 2024  and June 10, 2024).

The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo’s current Environmental, Social and Governance activities includes planting more than 30,000 high-value trees in the project area and surrounding communities, 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:

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 “extends”, “excellent”, “higher”, “greater”, “increase”, “encouraging”, “trend”, “enrichment”, “outperform”, “improve”, “high-grade”, “prospective”, “better”, “successful”, “extensive”, “significantly”, “greater”, “potential”, “increased”, “enhance”, 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 trenching program; the interpretation of the results of trench data, including that the mineralization thickens in the saprolite, is locally supergene enriched, and the impact on future mineral resource estimates thereof; the potential that similar thickening and supergene enrichment may be present along the entire strike length of the Luanga deposit and the impact on mineral resource estimates thereafter; the potential future economics of the saprolite material, including the recoverability of PGMs and Au therein; the results of planned additional trenching; the potential for discoveries of Cu+Au+/-Ni mineralization outside of the main Luanga PGM+Au+Ni deposit, the potential tonnes, grade and commercial viability of such, and the results of continuing exploration of geophysical targets; 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 PGM and/or Ni grades and mineralized thicknesses 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 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.