News Releases

Highlights include 122m at 2.59g/t PGM+Au, including 13m at 9.46g/t PGM+Au; 26m at 3.96g/t PGM+Au and 15m at 3.47g/t PGM+Au.

VANCOUVER, December 14, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) announced that it has received assay results from a further five trenches. Four are in the North Sector, while the fifth is the first trench from the Central Sector, at 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.

“Bravo’s trenching program continues to return excellent results that are significantly better than average oxide grades reported in the existing Mineral Resource Estimate (“MRE”). In addition, the expanded lateral extent of oxide PGM+Au mineralization at the surface is likely to increase the oxide volume component of a future MRE update. The high-grade zones present within these broad intersections also continue to support our interpretation of supergene enrichment occurring in the near-surface oxide zone,” said Luis Azevedo, Chairman and CEO of Bravo. “Furthermore, it is encouraging to see the first trench results from the Central Sector showing the same broad distribution and high grades we have consistently observed in both the North and Southwest Sectors.”

Highlights Include:

• Results continue to demonstrate expansion of the lateral extents of surface oxide mineralization, draped over the topographic high of the outcropping Luanga mineralized trend.
• Trenching also consistently reveals the presence of supergene enrichment in the saprolite zone, situated at the base of oxidation.
• Results at the southern end of the North Sector continue to show broad distribution of oxide mineralization (TRC23LU019 with 150m at 1.38g/t PGM+Au), including zones of high-grade mineralization (26m at 3.96g/t PGM+Au).
• The first trench completed in the Central Sector (TRC23LU016) has also returned high-grade mineralization (122m at 2.59g/t PGM+Au, including 13m at 9.46g/t PGM+Au) that also further supports the intersection of high-grade supergene mineralization in nearby drill hole PPT-LUAN-FD0124 (16m at 13.13g/t PGM+Au).
• Returned grades are consistently better than MRE average grades for the oxide zone, indicating potential for increased tonnes of oxide mineralization at higher grades in future mineral resource updates.
• Trenching is planned to continue along the entire 8.1km strike length of the Luanga deposit, with work now progressing in the Central Sector.

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 outcrop/sub-crop aims to better interpret near surface mineralization and to reduce the distance/spacing between assay data points for later resource classification to the indicated category. To date, the program has been highly successful.

Results for trenches TRC23LU017 to 020 cover the southern end of the North Sector while TRC23LU016 is the first trench in the Central Sector (Figure 1). Trenching is now continuing in the Central Sector (TRC23LU013, 014, 015 results pending – Figure 1). Figure 3 shows the location of trenches reported in this press release.

Figure 1: Trenching in the North and Central Sectors.

Trenching results continues to highlight significant expansion in the lateral extent of shallow oxide mineralization, which extends out across the topographic ridge along the 8.1km strike length of the Luanga deposit. Results also confirm the presence of supergene enrichment in the saprolite zone (above the base of oxidation), encountering significantly higher than the MRE average grades in the oxide mineralization. The presence of supergene enrichment is also supported by intersections in shallow drillholes nearby (Figure 2 – Section 1) and reported in previous trench results (see September 26^th 2023 and May 08^th, 2023).

Figure 2 (Section 1) demonstrates the lateral extent of surface oxide mineralization, while the high-grade zone (13m at 9.46g/t PGM+Au) in TRC23LU016 supports the high-grade supergene mineralization in nearby drill hole PPT-LUAN-FD0124 (16m at 13.13g/t PGM+Au).

Trenching to date continues to be successful, and is likely to enhance future MREs, and is very cost effective. Trenching is planned to continue along the entire 8.1km strike length of the Luanga deposit, with work now progressing in the Central Sector.

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

Figure 2: Central Sector (Section 1 on Figure 3) – Trenching showing supergene enrichment and lateral extents to surface mineralization’.

Luanga Drilling & Trenching Status

A total of 246 drill holes (111 in 2023) have been completed by Bravo to date, for 53,140 metres, including 8 planned twin holes and 8 metallurgical holes (not subject to routine assaying). Results have been reported for 213 Bravo drill holes to date. Results for 25 Bravo drill holes are currently outstanding (excluding the 8 metallurgical holes).  A total of 18 trenches have been completed in2023, with results for 15 trenches reported and  results for 3 pending.

Complete Table of Recent Intercepts - Trenching

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

Figure 3: 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 Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines, 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 is currently underway. 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”, “expect”, “anticipated”, “future results”, “continue”, “outstanding results”, “positive impact”, “potential”, “successful”, “interpretation”, 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.