BRVO.V · 2023-01-18 12:00:00

Bravo Continues to Intersect Exceptional PGM Mineralized Thicknesses and Grades at Luanga Highlights include 19.8m

Drill Results

Bravo Continues to Intersect Exceptional PGM

Mineralized Thicknesses and Grades at

Luanga

Highlights include

19.8m

@ 7.1g/t PGM+Au

And

50.9m

@ 2.64g/t PGM+Au plus 0.30% Ni

And

30.5m

@ 3.09g/t PGM+Au plus 0.30% Ni

VANCOUVER, BC

Jan. 18, 2023

/CNW/ - Bravo Mining Corp. (TSXV: BRVO) (OTCQX:

BRVMF), ("

Bravo

" or the "

Company

") today announced that it has received assay results from an

additional 13 infill diamond drill holes ("DDH") from its Luanga palladium + platinum + rhodium + gold

+ nickel project ("

Luanga

" or "

Luanga PGM+Au+Ni

"), located in the Carajás Mineral Province,

state of Pará,

Brazil

"The southern extent of the Central Zone at Luanga continues to show thick, high-grade

mineralized intersections (including higher

levels of nickel sulphide

) in an area that was previously

sparsely drilled with only shallow holes on

200m

spaced sections. Intersections in previously

released drill holes

DDH22LU040 (

52.9m

@ 2.14g/t

PGM+Au plus

0.27% Ni

from

36.6m

) and

DDH22LU042 (

67.3m

@ 1.35g/t

PGM+Au plus

0.28% Ni

from

47m

)

are further supported by wide

high-grade intersections in

DDH22LU053 (

50.9m

@ 2.64g/t

PGM+Au plus

0.30% Ni

, from

90.5m

DDH22LU058 (

30.5m

@ 3.09g/t

PGM+Au plus

0.30% Ni

, from

115.4m

), and DDH22LU059

(

17.1m

@ 3.97g/

t PGM+Au plus

0.22% Ni

, from

17.2m

)

" said

Luis Azevedo

, Chairman and CEO

of Bravo. "These sections all remain open at depth, representing

substantial upside opportunity.

This part of the Central Zone at Luanga is an ideal location for the first deeper drilling, as part of

our Phase 2 Drilling Program, given evidence of significantly improving grades and widths at

depth, coupled with higher-than-expected nickel sulphide grades."

Highlights

Highlights of Bravo's most recent intercepts are tabulated below, with details attached:

HOLE-ID

From

(m)

Thickness

(m)

(g/t)

PGM + Au

(g/t)

Ni (%

Sulphide)

TYPE

DDH22LU045

0.0

12.0

1.10

0.37

0.05

0.02

1.54

DDH22LU046

0.0

35.5

1.14

0.45

0.05

0.01

1.66

Including

0.0

17.0

2.01

0.68

0.11

0.02

2.81

DDH22LU050

58.4

79.8

21.4

0.79

0.41

0.07

0.11

1.38

0.18

DDH22LU051

17.2

37.0

19.8

3.15

3.56

0.32

0.06

7.10

Ox/FR

Including

23.2

31.2

8.0

7.4

8.59

0.77*

0.15

16.9*

0.03

FR/LS

DDH22LU053

90.5

141.4

50.9

1.82

0.61

0.09

0.12

2.64

0.30

DDH22LU055

49.1

68.1

19.0

1.34

0.80

0.10

0.40

2.64

0.25

DDH22LU058

115.4

145.9

30.5

2.04

0.71

0.13

0.20

3.09

0.30

DDH22LU059

144.0

161.1

17.1

2.77

1.01

0.16

0.03

3.97

0.22

Notes:

All 'From', 'To' depths, and 'Thicknesses' are downhole.

Given the orientation of the hole and the mineralization, the intercepts are estimated to be 75% to 85% of true thickness.

Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

NA: Not Applicable as intercept is oxide, or a mix of oxide and fresh rock mineralization.

* Includes Rh >1.00g/t result. Overlimit analyses pending.

** Bravo's nickel grades are

sulphide

nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays.

138 drill holes (3 holes in 2023) have been completed by Bravo to date, for a total of 23,265

metres (or 91% of the planned 25,500 metre Phase 1 Drilling Program), including all 8 planned

twin holes and all 8 planned metallurgical ("Met") holes.

Results reported for 52 Bravo drill holes to date.

Results for

78 Bravo drill holes remain

outstanding

Luanga Drill Program

The Phase 1 diamond drill program is close to completion, with

2,235m

remaining before the

commencement of the Phase 2 diamond drill program, which will be focused on step out drilling and

extending known zones of mineralization at depth. Phase 2 will also include drill testing geophysical

targets from the ongoing ground electromagnetic geophysical program and the planned micro-gravity

geophysical program. Drilling for 2023 started after the end of year break, with four drill rigs

currently operating on site given the significant backlog of assays and higher drill production rates

later in 2022.

Results from Luanga's Central Zone continue to show wide high-grade mineralized intersections

(including high nickel sulphides) in an area that was previously drilled with shallow holes on wide

spaced sections. All sections remain open at depth (see plan and sections below), presenting a

substantial upside opportunity and an ideal location for planned Phase 2 deeper drill testing.

Central Zone (Southern end) – Showing New Results Open at Depth, Compared to Existing Drilling.

(CNW Group/Bravo Mining Corp.)

Updated Section – DDH22LU046 up dip of DDH22LU042 (open at depth). (CNW Group/Bravo

Mining Corp.)

New Drill Section – Showing DDH22LU058 High-Grade PGM+Au, plus Ni (open at depth) (CNW

Group/Bravo Mining Corp.)

New Drill Section – Showing DDH22LU059 High-Grade PGM+Au, plus Ni (open at depth). (CNW

Group/Bravo Mining Corp.)

Complete Table of Recent Intercepts

HOLE-ID

From

(m)

Thickness

(m)

(g/t)

PGM +

Au (g/t)

Ni (%

Sulphide)

Cu (%)

TYPE

DDH22LU035

26.0

31.0

5.0

No Significant Results

0.19

DDH22LU038

0.0

7.0

0.63

0.15

0.04

0.03

0.84

And

39.4

80.5

41.1

0.08

0.04

>0.01

0.02

0.15

0.16

DDH22LU044

No Significant Results

DDH22LU045

0.0

12.0

1.10

0.37

0.05

0.02

1.54

DDH22LU046

0.0

35.5

1.14

0.45

0.05

0.01

1.66

Including

0.0

17.0

2.01

0.68

0.11

0.02

2.81

DDH22LU048

27.9

44.6

16.7

0.81

0.30

0.04

0.01

1.16

0.18

And

119.3

126.0

6.7

0.27

0.6

0.14

0.01

1.02

0.01

FR/LS

DDH22LU050

58.4

79.8

21.4

0.79

0.41

0.07

0.11

1.38

0.18

And

87.4

94.7

7.3

0.54

0.27

0.04

0.03

0.88

0.04

And

103.6

108.6

5.0

0.78

0.29

0.04

0.05

1.16

0.05

DDH22LU051

0.0

7.2

0.66

0.61

0.11

0.02

1.40

And

17.2

37.0

19.8

3.15

3.56

0.32

0.06

7.10

Ox/FR

Including

23.2

31.2

8.0

7.4

8.59

0.77*

0.15

16.9*

0.03

FR/LS

DDH22LU053

90.5

141.4

50.9

1.82

0.61

0.09

0.12

2.64

0.30

And

144.4

154.3

9.9

0.32

0.38

0.01

0.71

0.02

DDH22LU054

0.0

7.0

0.31

0.34

0.01

0.66

And

11.1

16.1

5.1

0.36

0.65

0.04

0.01

1.05

DDH22LU055

0.0

6.2

0.59

0.32

0.03

0.14

1.08

And

49.1

68.1

19.0

1.34

0.80

0.10

0.40

2.64

0.25

And

107.1

113.2

6.1

0.24

0.43

0.05

0.01

0.72

0.01

FR/LS

DDH22LU058

0.0

3.8

0.32

0.13

>0.01

0.07

0.53

And

71.8

81.8

10.0

0.49

0.15

0.04

0.14

0.81

0.27

And

99.4

106.9

7.5

0.86

0.32

0.05

0.03

1.27

0.28

And

115.4

145.9

30.5

2.04

0.71

0.13

0.20

3.09

0.30

DDH22LU059

27.2

32.2

5.0

0.50

0.20

>0.01

0.01

0.71

And

100.9

105.9

5.0

0.43

0.16

0.03

0.02

0.64

0.14

And

110.9

120.4

9.5

0.53

0.21

0.08

0.02

0.84

0.25

And

144.0

161.1

17.1

2.77

1.01

0.16

0.03

3.97

0.22

Notes:

All 'From', 'To' depths, and 'Thicknesses' are downhole.

Given the orientation of the hole and the mineralization, the intercepts are estimated to be 75% to 85% of true thickness.

Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

NA: Not Applicable as intercept is oxide, or a mix of oxide and fresh rock mineralization.

* = Includes Rh >1.00g/t result. Overlimit analyses pending.

** = Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays

Results from Bravo's drilling continue to show the same as trend noted previously, with results

comparing well with, or exceed intercepts in historic drill holes on nearby drill sections, in both tenor

and mineralized thickness. Hole DDH22LU044 was collared on an exploration target far from the

mineralized horizon. Hole DDH22LU035 was drilled too far east, starting in footwall rocks below the

mineralized zone, before exiting the Luanga complex and intersecting low grade copper

mineralisation associated with hydrothermal alteration.

Location of Bravo Drilling Reported in this News Release (CNW Group/Bravo Mining Corp.)

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.

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 "exceptional", "high-grade",

"substantial upside", "opportunity", "significantly improving", "higher-than-expected", "exceed",

"excellent" and other similar words, phrases, or statements that certain events or conditions

"should" or "will" occur. This news release contains forward-looking information pertaining to the

Company's ongoing re-assay and drill programs and the results thereof; the expected completion

of geophysical surveys and the results of such surveys; the potential for the definition o new styles

of mineralization and extensions to depth 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 that the interpreted mineralization contains significant values of nickel,

PGMs and Au; that the mineralization remains open to depth, that grades 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

HOLE-ID

Company

East (m)

North (m)

RL (m)

Datum

Depth (m)

Azimuth

Dip

Sector

DDH22LU035

Bravo

660050.30

9341925.04

279.61

SIRGAS2000 UTM22S

201.95

90.00

-60.00

Northwest

DDH22LU038

Bravo

659975.28

9341875.03

268.01

SIRGAS2000 UTM22S

149.00

90.00

-60.00

Northwest

DDH22LU044

Bravo

656950.01

9339949.95

282.64

SIRGAS2000 UTM22S

116.45

360.00

-60.00

Regional

DDH22LU045

Bravo

658594.91

9340859.19

246.20

SIRGAS2000 UTM22S

154.40

330.00

-60.00

Central

DDH22LU046

Bravo

658272.83

9340618.34

269.55

SIRGAS2000 UTM22S

150.25

330.00

-60.00

Central

DDH22LU048

Bravo

658416.99

9340768.02

254.80

SIRGAS2000 UTM22S

130.30

330.00

-60.00

Central

DDH22LU050

Bravo

657400.01

9339857.06

263.99

SIRGAS2000 UTM22S

130.15

360.00

-60.00

Southwest

DDH22LU051

Bravo

659500.87

9343075.02

268.15

SIRGAS2000 UTM22S

151.45

90.00

-60.00

Northwest

DDH22LU053

Bravo

658389.87

9340615.20

276.84

SIRGAS2000 UTM22S

155.05

330.00

-60.00

Central

DDH22LU054

Bravo

658556.96

9340924.02

241.98

SIRGAS2000 UTM22S

150.10

330.00

-60.00

Central

DDH22LU055

Bravo

657300.00

9339814.66

259.24

SIRGAS2000 UTM22S

134.55

360.00

-60.00

Southwest

DDH22LU058

Bravo

658458.99

9340694.91

278.43

SIRGAS2000 UTM22S

170.15

330.00

-60.00

Central

DDH22LU059

Bravo

658743.97

9340801.03

250.61

SIRGAS2000 UTM22S

175.05

330.00

-60.00

Central

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.

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.

Bravo ALS

Preparation

Method

For All Elements

Pt, Pd, Au

Ni-Sulphide

Trace Elements

PREP-31DH

PGM-ICP27

Rh-MS25

Ni-ICP05

ME-ICP61

SOURCE

Bravo Mining Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/January2023/18/c4797.html

%SEDAR: 00054599E

For further information:

For further information about Bravo, please visit www.bravomining.com or

contact: Alex Penha, EVP Corporate Development, [email protected]

CO: Bravo Mining Corp.

CNW 06:30e 18-JAN-23

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