Bravo’s North Sector Emerges as Second Thick, High-Grade Centre of Gravity for the Luanga PGM+Au+Ni Deposit Highlights include 69m at 3.8g/t PGM+Au including 5m at 25.4g/t PGM+Au, 45m at 5.0g/t PGM+Au, and 24.9m at 5.9g/t PGM+Au, 0.12% Ni
NEWS RELEASE
29 July 2024
1 | P a g e
Bravo’s North Sector Emerges as Second Thick, High-Grade Centre of Gravity
for the Luanga PGM+Au+Ni Deposit
Highlights include 69m at 3.8g/t PGM+Au including 5m at 25.4g/t PGM+Au,
45m at 5.0g/t PGM+Au, and 24.9m at 5.9g/t PGM+Au, 0.12% Ni
VANCOUVER, July 29, 2024 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “ Company”) has
received assay results from fifteen diamond drill holes (“DDH”) from the North 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.
“The numerous thick high-grade drill intercepts from the North Sector of the Luanga deposit has significantly
enhanced the resource potential in this area, thus establishing a second centre of gravity for the Luanga deposit, ”
said Luis Azevedo, Chairman and CEO . “In the Luanga deposit mineral resource estimate ( “MRE”. See press release
October 22, 2023), the Central Sector was seen to host a large proportion of the mineral resources, largely due to the
concentration of historical holes and Bravo drilling. In contrast, the North Sector had only seen limited drilling at the
time of the MRE . However, Bravo ’s recent drilling, has consistently intercepted thicker zones of higher -grade
mineralization within 150m of surface, as illustrated by the sections in this press release.”
Highlights Include:
▪ Drilling in the North Sector continues to show improvements in both grade and thickness compared to historic
drilling in this sector.
▪ Mineralization intersected to date (see Sections 1 and 2) lies within 150m of surface and is open to further
extension at depth.
▪ The North Sector at the Luanga deposit is now recognised as a second centre of gravity of multiple thick high
grade mineralized zones.
▪ The current round of BH EM (bore-hole electromagnetic) surveying is close to completion. Drilling has
recommencing at T5, testing new conductors along strike defined by this work. This will be followed by drilling
at new and re-evaluated HeliTEM targets.
HOLE-ID From To Thickness
(m)
Pd Pt Rh Au PGM + Au Ni* (%)
Sulphide TYPE (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t)
DDH24LU245 3.00 72.40 69.40 1.63 1.82 0.23 0.08 3.77 NA FR/LS
including 9.20 14.20 5.00 8.81 14.99 1.62 0.01 25.42 NA FR/LS
Also including 44.05 72.40 28.35 1.76 0.94 0.14 0.18 3.01 0.25 FR
And 115.00 143.00 28.00 1.58 1.28 0.19 0.04 3.10 0.02 FR
DDH24LU247 0.00 31.00 31.00 1.05 0.81 0.22 0.01 2.10 NA Ox
DDH24LU248 45.40 70.30 24.90 2.31 3.27 0.27 0.03 5.88 0.12 FR/LS
including 45.40 55.40 10.00 4.48 7.36 0.58 0.04 12.46 0.08 FR/LS
DDH24LU249 111.40 157.40 46.00 1.41 0.69 0.14 0.06 2.30 0.18 FR
DDH24LU250 111.50 117.50 6.00 4.18 2.92 0.49 0.32 7.91 0.11 FR
And 124.50 131.50 7.00 2.25 1.85 0.34 0.08 4.52 0.08 FR
And 66.80 67.80 1.00 156.45 158.25 >10.0 2.16 326.85 0.06 FR
DDH24LU252 0.00 152.30 152.30 0.40 0.75 0.04 <0.01 1.20 NA Ox/FR
DDH24LU254 84.50 92.50 8.00 2.76 1.28 0.24 0.19 4.47 0.15 FR
And 21.35 64.70 43.35 1.52 0.80 0.13 0.22 2.67 0.20 FR
DDH24LU258 0.00 45.60 45.60 2.48 1.85 0.34 0.34 5.01 NA Ox
DDH24LU259 8.60 10.60 2.00 12.76 42.15 4.79 2.59 62.28 NA Ox
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material.
Given orientation of drilling and mineralization, intercepts are estimated at 125% to 140% of true thickness in the North Sector.
Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphide. Recovery methods and results will differ based on the type of mineralization.
* Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays.
NEWS RELEASE
29 July 2024
2 | P a g e
Luanga Drilling Update
Results from fifteen diamond drill holes have been received from the North Sector of the Luanga PGM+Au+Ni
deposit. All the drill holes reported herein are angled holes (-60 degrees), towards an azimuth of 090°. Together, this
set of drill holes comprise a total of 3,212.45 metres of diamond drilling.
Section 1 (Figure 1) in the North Sector shows infill and step-out drilling, with DDH24LU249 being the deepest drill
hole on the section, exhibiting a wide zone of mineralization, open at depth, within 150m from surface, and
consistently increasing in grade from DDH22LU090 to DDH24LU247 to DDH22LU086 to DDH24LU249. Trenching
(TR23LU024) in this area also demonstrates the significant volume of near surface oxide mineralization. These results
continue to bode well for potential future MRE updates. In comparison, the Central Sector has been defined to depths
of up to 400m below surface , more than twice the depth of current drilling in the North Sector . The addition of a
second centre of gravity for the Luanga PGM+Au+Ni deposit has potential to enhance future project economics , as
and when demonstrated, mineralization could potentially be extracted from shallower depths for longer periods.
Figure 1: North Sector (Section 1 on Figure 3). High-grade and thick mineralization near surface and continuing at depth.
NEWS RELEASE
29 July 2024
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Section 2 (Figure 2) is an infill section in the North Sector . Drilling also shows evidence of increasing thickness at
depth, again with mineralization defined to date less than 150m from surface and still open at depth. As with Section
1 and in comparison, to the Central Sector, there is still significant potential to extend mineralization to depth while
remaining potentially amenable to open pit exploitation, subject to future economic studies. Furthermore, Section 2
shows high volumes of mineralization in comparison to the volume of unmineralized material, demonstrating the
potential for relatively low strip ratios in these areas.
Figure 2: North Sector (Section 2 on Figure 3). Wide zones of mineralization with low proportions of unmineralized material.
HeliTEM (Helicopter borne EM) and Copper/Gold Exploration Update
Exploration is progressing on both BHEM targets and HeliTEM targets. The current round of BHEM surveying is
close to completion. Drilling has recommencing at T5, testing new conductors defined along strike by this work.
BHEM is currently in progress at T11. Following the new holes planned at T5, drilling will move to T11, followed by
initial testing of new and re-evaluated HeliTEM targets.
NEWS RELEASE
29 July 2024
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Drill Results Status Update
A total of 311 drill holes have been completed by Bravo to date, for 66,366 metres, including 8 metallurgical holes
(not subject to routine assaying). Results have been reported for 2 67 Bravo drill holes to date. Assay results for 36
Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).
Complete Table of Recent Intercepts.
HOLE-ID From To Thickness
(m)
Pd Pt Rh Au PGM + Au Ni* (%)
Sulphide
Cu (%)
Sulphide TYPE (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t)
DDH24LU243 162.45 169.45 7.00 0.22 0.73 0.04 <0.01 0.99 0.01 FR
DDH24LU245 3.00 72.40 69.40 1.63 1.82 0.23 0.08 3.77 NA FR/LS
including 9.20 14.20 5.00 8.81 14.99 1.62 0.01 25.42 NA FR/LS
Also including 44.05 72.40 28.35 1.76 0.94 0.14 0.18 3.01 0.25 FR
And 79.70 89.40 9.70 0.65 0.55 0.09 0.12 1.41 0.09 FR
And 115.00 143.00 28.00 1.58 1.28 0.19 0.04 3.10 0.02 FR
And 150.00 154.00 4.00 0.46 0.19 0.04 0.01 0.70 0.05 FR
And 182.00 190.00 8.00 0.34 0.11 0.02 0.02 0.49 0.07 FR
And 197.00 201.05 4.05 0.40 0.10 0.02 <0.01 0.52 0.05 FR
DDH24LU247 0.00 31.00 31.00 1.05 0.81 0.22 0.01 2.10 NA Ox
And 51.65 93.50 41.85 0.84 0.41 0.09 0.01 1.35 0.11 FR
including 60.65 76.50 15.85 1.15 0.55 0.12 0.01 1.84 0.13 FR
And 102.50 115.50 13.00 0.27 0.25 0.04 <0.01 0.57 0.03 FR
And 119.50 123.50 4.00 0.77 0.34 0.05 0.01 1.16 0.05 FR
And 151.50 153.50 2.00 5.06 2.49 0.21 0.01 7.77 0.10 FR
And 162.50 171.50 9.00 0.36 0.13 0.01 0.01 0.50 0.06 FR
DDH24LU248 0.00 3.91 3.91 0.79 0.44 0.08 0.01 1.32 NA Ox
And 45.40 70.30 24.90 2.31 3.27 0.27 0.03 5.88 0.12 FR/LS
including 45.40 55.40 10.00 4.48 7.36 0.58 0.04 12.46 0.08 FR/LS
And 75.90 79.90 4.00 0.86 0.41 0.06 0.02 1.35 0.26 FR
And 96.15 100.30 4.15 0.57 0.31 0.03 0.02 0.93 0.14 FR
DDH24LU249 0.00 6.80 6.80 0.30 0.32 0.06 0.01 0.69 NA Ox
And 18.00 26.00 8.00 0.27 0.77 0.22 <0.01 1.27 NA FR/LS
And 33.90 46.35 12.45 0.51 0.77 0.04 0.01 1.33 0.01 FR
And 54.35 60.35 6.00 0.51 0.30 0.06 0.01 0.88 0.06 FR
And 181.10 187.10 6.00 0.25 0.51 0.07 <0.01 0.83 0.01 FR
And 94.10 102.00 7.90 0.36 0.82 0.11 0.02 1.30 0.02 FR
And 111.40 157.40 46.00 1.41 0.69 0.14 0.06 2.30 0.18 FR
And 173.90 182.90 9.00 0.79 0.41 0.09 0.09 1.37 0.14 FR
And 241.00 244.00 3.00 <0.01 <0.01 0.01 0.02 0.03 0.01 0.68 FR
DDH24LU250 111.50 117.50 6.00 4.18 2.92 0.49 0.32 7.91 0.11 FR
And 124.50 131.50 7.00 2.25 1.85 0.34 0.08 4.52 0.08 FR
DDH24LU251 0.00 3.30 3.30 0.36 0.30 0.07 0.01 0.74 NA Ox
And 66.80 67.80 1.00 156.45 158.25 >10.0 2.16 326.85 0.06 FR
DDH24LU252 0.00 152.30 152.30 0.40 0.75 0.04 <0.01 1.20 NA Ox/FR
including 0.00 27.45 27.45 0.56 1.41 0.03 0.01 2.00 NA Ox
And 192.50 197.50 5.00 0.84 0.28 0.04 0.13 1.29 0.13 FR
DDH24LU253 0.00 28.50 28.50 0.36 0.70 0.03 0.01 1.09 NA Ox
And 120.30 123.30 3.00 0.61 0.28 0.02 <0.01 0.92 0.03 FR
DDH24LU254 0.00 27.30 27.30 0.38 0.12 0.01 0.08 0.58 NA Ox
And 41.30 80.90 39.60 0.75 0.37 0.06 0.12 1.31 0.19 FR
And 84.50 92.50 8.00 2.76 1.28 0.24 0.19 4.47 0.15 FR
And 93.50 101.50 8.00 0.39 0.21 0.02 0.05 0.67 0.13 FR
And 193.00 196.00 3.00 0.39 1.06 0.39 0.01 1.85 0.05 FR
And 208.00 216.00 8.00 0.55 0.36 0.07 0.01 1.00 0.01 FR
And 227.00 231.00 4.00 0.18 0.06 0.02 0.05 0.31 0.07 0.72 FR
NEWS RELEASE
29 July 2024
5 | P a g e
HOLE-ID From To Thickness
(m)
Pd Pt Rh Au PGM + Au Ni* (%)
Sulphide
Cu (%)
Sulphide TYPE (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t)
DDH24LU255 0.00 1.84 1.84 1.30 1.28 0.23 0.04 2.85 NA Ox
And 60.60 63.60 3.00 0.71 0.45 0.06 0.01 1.23 0.02 FR
And 77.60 90.60 13.00 1.08 0.97 0.19 0.01 2.26 0.02 FR
And 152.30 164.30 12.00 0.42 0.21 0.03 0.02 0.68 0.08 FR
And 185.05 185.85 0.80 0.41 0.14 0.05 <0.01 0.60 2.11 FR
DDH24LU256 0.00 8.35 8.35 1.39 0.55 0.10 0.10 2.14 NA Ox
And 21.35 64.70 43.35 1.52 0.80 0.13 0.22 2.67 0.20 FR
And 71.70 72.70 1.00 8.56 8.86 1.50 0.53 19.40 0.01 FR
And 85.60 89.60 4.00 0.72 0.35 0.04 0.03 1.14 0.06 FR
And 131.60 166.60 35.00 0.61 0.35 0.06 0.05 1.07 0.10 FR
DDH24LU257 0.00 18.80 18.80 0.35 0.62 0.09 0.01 1.07 NA Ox
DDH24LU258 0.00 45.60 45.60 2.48 1.85 0.34 0.34 5.01 NA Ox
And 88.60 90.60 2.00 2.18 9.91 2.19 0.15 14.43 0.01 FR/LS
And 99.60 104.60 5.00 0.26 0.28 0.08 0.01 0.62 0.01 FR
And 162.60 180.60 18.00 0.30 0.18 0.03 0.03 0.53 0.03 FR
DDH24LU259 8.60 10.60 2.00 12.76 42.15 4.79 2.59 62.28 NA Ox
And 13.60 73.90 60.30 0.31 0.54 0.05 <0.01 0.91 0.01 Ox/FR
And 77.90 78.90 1.00 0.66 13.98 3.03 <0.01 17.67 0.01 FR/LS
And 134.45 172.70 38.25 0.41 0.40 0.06 0.01 0.88 0.05 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material.
Given orientation of drilling and mineralization, intercepts are estimated at 125% to 140% of true thickness in the North Sector.
Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphide. Recovery methods and results will differ based on the type of mineralization.
* Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historical total nickel assays
NEWS RELEASE
29 July 2024
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Figure 3: Location of Bravo Drilling and Sections Reported in this News Release
NEWS RELEASE
29 July 2024
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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 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, 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 Nationa l 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
NEWS RELEASE
29 July 2024
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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 “thick”, “high-grade”, “centre of gravity”, “numerous”, “significantly”,
“enhanced”, “ potential”, “ concentration”, “ consistently”, “ improvement”, “ extension”, “centre of gravity”,
“numerous”, “bodes well”, 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 drill program and the results there of; comparisons to historical and /or prior Bravo drilling; the
potential for extensions to mineralization at depth; the potential for gre ater thicknesses and/or higher grades at
depth; the impact of current and future drilling on future mineral resource estimates, after taking into account other
modifying factors; whether or not the mineralization is amenable to open pit mining and, if so , to what extent; the
potential for a second centre of gravity for the Luanga deposit; potential economic outcomes, including strip ratios,
in future economic studies; 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 busin ess 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 p laced 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.