News Releases

Bravo’s Trenching Program Continues to Expand Oxide PGM+Au Mineralization

Highlights include 112m at 1.19g/t PGM+Au, including 16m at 2.76g/t PGM+Au and, 156m at 1.01g/t PGM+Au, including 5m at 5.24g/t PGM+Au

VANCOUVER, October 16, 2024 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) is pleased to report that it has received assay results from eight trenches in the Central and North Sectors at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project (“Luanga” or “Luanga PGM+Au+Ni Project”), located in the World Class Carajás Mineral Province, state of Pará, Brazil.

“Trenching has uncovered a wider lateral extent of oxide PGM+Au mineralization at surface, which includes areas with higher grades. These findings suggest a potential increase in the volume of oxide mineralization at Luanga. Additionally, the higher-grade zones within these sections align with or enhance the grades observed in the drilling below the trench lines, supporting our interpretation of supergene enrichment,” said Luis Azevedo, Chairman and CEO of Bravo.

Highlights Include:

• Trenching across the strike of the Luanga PGM+Au+Ni deposit continues to be successful, with work to date almost complete in the North and Central Sectors. Results highlight significant expansion in the lateral extent of shallow oxide mineralization, which extends across the topographic highs, along the entire 8.1km strike length of the Luanga deposit tested to date.

• Results confirm the presence of enrichment in the saprolite zone, while encountering grades that are on par or better than the grade of the oxide mineralization and often improve upon intersections encountered by drilling in the underlying fresh rock.

• In the North Sector, trench TRC24LU043, where more pronounced topography again provides clearer evidence of supergene enrichment, returned 156.5m @ 1.01g/t PGM+Au, including 5m @ 5.24g/t PGM+Au.

• This “mushrooming” of oxide mineralization in the supergene zone demonstrates the potential for volumetric growth in future volumes of oxide mineralization.

• Drilling continues at the T5 target, with assays pending for six drill holes, all of which have all intersected copper sulphide mineralization on the eastern end of T5.

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

Luanga Trenching Program

Trenching across the strike of the Luanga PGM+Au+Ni deposit aims to improve the interpretation of near surface mineralization and to reduce the distance/spacing between assay data points with the objective of supporting mineral resource classification to the indicated category. The program continues to be successful in meeting Bravo’s objectives, with trenching almost complete in the North and Central Sectors and only eight trenches remaining to be completed this year.

Trenches TRC24LU030, 031A+B, 032, 035 and 036 (Figure 1) cover the southern extent of the Central Sector, while trenches TRC24LU043 and 044 are at the southern extent of the North Sector. Trenching continues in the Central Sector, with only 1 trench to complete before commencing in the Southwest Sector. Figure 3 shows the location of trenches in the Central Sector reported in this news release.

Figure 1: Trenching in the Central Sector.

Trenching results continue to highlight significant expansion in the lateral extent of shallow oxide mineralization, which extends across the topographically elevated areas, along the entire 8.1km strike length of the Luanga PGM+Au deposit. Results also continue to confirm the presence of enrichment in the saprolite zone (above the base of oxidation), but to lesser degree in the Central Sector where the topographic highs are less exaggerated (see the plan view in Figure 1 and Section 1 in Figure 2), encountering grades that are equal or better than average grades of oxide mineralization in surrounding drill holes. In the North Sector, trench TRC24LU043, where more pronounced topography demonstrates clearer evidence of supergene enrichment, returned a result of 156m @ 1.01g/t PGM+Au, including 5m @ 5.24g/t PGM+Au.

Figure 2 (Section 1) illustrates the extent of surface oxide mineralization compared to underlying narrower zones of primary (fresh rock) mineralization observed in drilling below the trench. This “mushrooming” of oxide mineralization in the supergene zone demonstrates the potential for volumetric growth in future oxide mineralization that it was not possible to define by drilling alone.

Trenching continues along the entire 8.1km strike length of the Luanga deposit, with work finalizing the Central Sector and progressing to completion in the Southwest Sector.

Figure 2: Central Sector (Section 1 on Figure 3) – Trenching showing the extent of surface mineralization in comparison to drilling below.

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

Luanga Drilling & Trenching Status

A total of 332 drill holes have been completed by Bravo to date, for 70,577.75 metres, including eight metallurgical holes (not subject to routine assaying). Results have been reported for 267 Bravo drill holes to date. Assay results for 57 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes). A total of 37 trenches have been completed to date (for 7,623.08 metres), with results for 36 trenches reported and results for 1 trench pending.

T5 Target – Exploration Update

Drilling continues at the T5 target, located 1km east of the Luanga PGM+Au Deposit. Assays are pending for drill holes DDH2405T012, 013, 014, 015, 016, and 017, all of which have intersected copper sulphide mineralization on the eastern end of T5.

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 3: Location of Bravo Trenches and Section 1 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 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 hydro grid power. A fully funded +70,000m 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 trees in and around the Project area, hiring and contracting locally, and working to ensure 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 “Expand”, “significant”, “greater”, “high-grade”, “validate”, “improve”, “enrichment”, “successful”, “expansion”, “clearer evidence”, “potential”, “growth”, “aims”, “highlight”, “better”, variants of these words and other similar words, phrases, or statements that certain events or conditions “may”, “should” 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; 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 results from trenching reasonably reflect consistent zones of oxide mineralization and that future results from additional trenching will continue to see similar broad distribution of oxides with higher grades that the current MRE; 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: Trench Location 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.