Bravo Intercepts 115.6m at 1.38g/t PGM+Au from Surface and 44.0m at 1.88g/t PGM+Au, 0.20% Ni, including 18.0m at 3.29g/t PGM+Au, 0.30% Ni Result is the thickest interval of continuous PGM+Au mineralization to date at Luanga
NEWS RELEASE
18 April 2023
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Bravo Intercepts 115.6m at 1.38g/t PGM+Au from Surface and
44.0m at 1.88g/t PGM+Au, 0.20% Ni, including 18.0m at 3.29g/t PGM+Au, 0.30% Ni
Result is the thickest interval of continuous PGM+Au mineralization to date at Luanga
VANCOUVER, April 18, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “ Company”)
announced that it has received assay results from a further ten diamond infill drill holes (“DDH”) from 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.
“New results from Luanga’s infill drilling completed in 2022 continue to encourage, comparing well with historic
drilling on nearby drill sections, and to previously reported results from Bravo ’s drilling on the same drill sections.
DDH22LU100 from the North Sector is now the thickest known interval of continuous PGM+Au mineralization to date
in the Luanga deposit. DDH22LU122 (North Sector) and DDH22LU123 (Central Sector) show continuing evidence of
increasing levels of magmatic nickel (± copper) sulphide mineralization as drilling approaches the footwall ultramafic
sequence,” said Luis Azevedo, Chairman and CEO of Bravo . “We look forward to advancing the Phase 2 program of
extensional drilling, probing deeper into the Luanga deposit.”
Highlights Include:
▪ Assay results received from drilling at all three Sectors of the Luanga deposit continue to compare well with
intercepts in historic drilling on nearby drill sections, both in tenor and mineralized thickness, and to previously
reported results from Bravo drilling on the same drill sections.
▪ With a downhole thickness of 115.6m from surface, DDH22LU100 has intersected the thickest known interval
of continuous mineralization to date within the Luanga deposit.
▪ A geophysical contractor is expected to start the HeliTEM (Helicopter Electromagnetic) survey over the entire
Luanga project in May 2023. Surface micro-gravity and detailed ground magnetics are in progress.
▪ The surface trenching program will recommence in Q2.
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
PGM +
Au (g/t) Ni* (%) Cu (%) TYPE
DDH22LU100 0.0 115.6 115.6 0.53 0.84 0.01 0.00 1.38 NA NA Ox/FR
DDH22LU105 52.4 59.4 7.0 1.57 0.82 0.12 0.32 2.65 0.01 0.05 FR
DDH22LU115 31.0 67.0 36.0 0.93 0.93 0.15 0.03 2.04 0.18 0.02 FR
DDH22LU119 63.9 86.9 23.0 0.88 0.32 0.04 0.02 1.25 0.13 0.01 FR
DDH22LU121 44.7 53.7 9.0 1.29 0.75 0.15 0.08 2.27 0.12 001 FR
DDH22LU122 0.0 12.2 12.2 1.52 1.09 0.25 0.12 2.99 NA NA Ox
DDH22LU123 149.5 193.5 44.0 1.34 0.45 0.06 0.02 1.88 0.20 0.02 FR
Including 174.5 192.5 18.0 2.37 0.79 0.12 0.01 3.29 0.30 0.02 FR
DDH22LU125 0.0 27.5 27.5 2.09 1.01 0.27 0.03 3.40 NA NA Ox
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material.
Given the orientation of the hole and the mineralization, the intercepts are estimated to be 80% to 95% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. 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 historic total nickel assays
Luanga Drilling Assay Results Update
NEWS RELEASE
18 April 2023
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A total of 169 drill holes (34 in 2023) have been completed by Bravo to date, for 29,393 metres, including all 8 planned
twin holes and all 8 metallurgical holes (not subject to routine assaying).
The Phase 1 drilling program has concluded, and the Phase 2 program has commenced (Figure 1).
Results have been reported for 119 Bravo drill holes to date. Excluding the metallurgical holes, results for 42 Bravo
drill holes are currently outstanding.
Figure 1: CEO, President, and VP Exploration at the first drill site of the Phase 2 Drilling Program.
Drill results received from all three sectors at Luanga continue to compare well with intercepts in historic drilling on
nearby drill sections and to previously reported results from Bravo drilling on the same drill sections (see Sections 1
and 2).
Drill results were received for four drill holes in the North Sector and continue to show multiple stacked zones of
mineralization, as reported in previous news releases. DDH22LU100 is an exception to this, intersecting 115.6m of
continuous mineralization from surface (the thickest mineralized interval intersected to date at Luanga), followed by
narrow zones of seemingly unrelated copper (±gold) mineralization at depth. DDH22LU122 (North Sector ) also
returned narrow intervals of magmatic nickel/copper sulphide mineralization at depth , adding further evidence to
the potential for magmatic nickel (± copper) sulphides at depth.
Drill results were received from five infill drill holes from the Central Sector and, as has been reported previously,
mineralization is more typically dominated by one thicker zone of mineralization. Results in the Central Sector also
continue to compare well with intercepts in historic drilling on neighbouring drill sections, and to shallower (up-dip)
drilling (DDH22LU040 and 044, Figure 2 – Section 1) by Bravo on the same section.
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18 April 2023
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Figure 2: Central Sector (Section 1 on Figure 5) – Ultramafic footwall sequence containing magmatic nickel sulphides.
Figure 3: North Sector – DDH22LU123. Harzburgite from the ultramafic footwall sequence.
It is worth noting again that the Luanga intrusion has been turned on to its side. In the Southwest and Central Sectors
Luanga has been rotated beyond vertical (I.E., is overturned), such that the basal (footwall) ultramafic sequence lies
DDH22LU123 @124.2m.
1.43g/t PGM+Au, 0.21% Ni
Harzburgite, medium- coarse
grained. Strongly magnetic. ~7%
disseminated magmatic sulphides.
NEWS RELEASE
18 April 2023
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geographically above the known PGM+Au+Ni deposit. DDH22LU123 (Section 1) is a good example of Bravo’s drilling
first needing to pass through ever-increasing thicknesses of the footwall ultramafic sequence to reach the interpreted
down-dip extensions of the Luanga PGM+Au+Ni deposit. As shown on the section, zones of magmatic nickel
sulphides continue to be present in the footwall ultramafic. Figure 3 (DDH22LU123) shows a typical example of
Harzburgite ultramafic containing disseminated magmatic nickel sulphides.
Figure 4: Southwest Sector (Section 2 on Figure 5) – Multiple zones of mineralization.
DDH22LU119 (Figure 4 – Section 2) was the only drill hole in this group of results from the Southwest Sector, with
results comparing well with intercepts in historic drilling on neighbouring drill sections and comparing favourably to
up-dip drilling (DDH22LU114) by Bravo on the same section.
Phase 2 Drill Program
The Phase 2 program has commenced, with 21,500 meters of drilling planned, focused on extensional drilling to
depth (below the known mineralization) and exploration of new targets.
The extensional drilling seeks to follow the known Luanga PGM+Au+Ni mineralization down-dip while, at the same
time, extending holes to depths sufficient to test the interface between the PGM host sequence and the ultramafic
footwall sequence.
NEWS RELEASE
18 April 2023
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The Phase 2 program also includes a significant budget allocation for exploration , with an accelerated geophysical
program aimed at generating magmatic nickel sulphide exploration targets and examining the entire Luanga project
area, including areas outside the mineralized footprint identified to date.
A geophysical contractor is expected to start the HeliTEM (Helicopter Electromagnetic) survey over the entire Luanga
project in May 2023. They are currently working on mobilization and permits.
Surface geophysical programs, micro-gravity and detailed ground magnetics, are now both in progress at Luanga.
Complete Table of Recent Intercepts
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
PGM +
Au (g/t) Ni* (%) Cu (%) TYPE
DDH22LU100 0.0 115.6 115.6 0.53 0.84 0.01 0.00 1.38 NA NA Ox/FR/LS
And 129.6 142.9 13.3 0.30 0.75 0.01 0.05 1.11 0.01 0.19 FR
Including 140.9 142.9 2.0 0.05 0.04 0.01 0.32 0.41 0.01 1.20 FR
And 147.9 150.9 3.0 0.00 0.01 0.00 0.05 0.07 0.01 0.35 FR
DDH22LU105 0.0 2.0 2.0 0.52 0.21 0.03 0.05 0.81 NA NA Ox
And 33.4 37.4 4.0 0.57 0.16 0.00 0.01 0.75 0.01 0.01 FR
And 45.4 74.0 28.6 0.67 0.39 0.06 0.07 1.18 0.10 0.06 FR
Including 52.4 59.4 7.0 1.57 0.82 0.12 0.32 2.65 0.01 0.05 FR
And 79.5 85.5 6.0 0.50 0.27 0.03 0.01 0.82 0.02 0.03 FR
DDH22LU109 0.0 3.7 3.7 0.42 0.45 0.02 0.01 0.90 NA NA Ox
DDH22LU115
11
0.0 3.1 3.1 0.62 0.40 0.02 0.06 1.10 NA NA Ox
And 31.0 67.0 36.0 0.93 0.93 0.15 0.03 2.04 0.18 0.02 FR
DDH22LU119 53.0 57.9 4.9 0.19 0.06 0.07 0.23 0.55 0.32 0.02 FR
And 63.9 86.9 23.0 0.88 0.32 0.04 0.02 1.25 0.13 0.01 FR
And 88.9 122.9 34.0 0.35 0.21 0.01 001 0.58 0.04 0.01 FR
DDH22LU121 0.0 4.0 4.0 0.52 0.50 0.10 0.01 1.13 NA NA Ox
And 28.2 31.2 3.0 1.08 0.73 0.18 0.01 1.99 0.01 0.01 FR
And 44.7 53.7 9.0 1.29 0.75 0.15 0.08 2.27 0.12 001 FR
DDH22LU122 0.0 12.2 12.2 1.52 1.09 0.25 0.12 2.99 NA NA Ox
And 70.3 75.5 5.2 0.21 0.16 0.01 0.01 0.39 0.15 0.02 FR
And 80.5 87.5 7.0 0.36 0.38 0.05 0.05 0.84 0.08 0.04 FR
And 101.5 105.5 4.0 0.38 0.28 0.02 0.03 0.71 0.08 0.06 FR
And 118.2 125.2 7.0 0.36 0.17 0.02 0.12 0.68 0.09 0.04 FR
And 132.8 138.2 6.0 0.34 0.18 0.02 0.05 0.58 0.12 0.05 FR
And 150.3 152.5 2.2 0.10 0.03 1.11 0.00 1.24 0.55 0.19 FR
And 183.1 184.6 1.5 0.10 0.01 0.00 0.24 0.36 0.25 2.57 FR
DDH22LU123 52.8 56.8 4.0 0.29 0.10 0.01 0.04 0.44 0.25 0.01 FR
And 85.5 90.4 4.9 0.28 0.10 0.07 0.04 0.49 0.21 0.17 FR
And 95.5 99.8 4.3 0.20 0.08 0.11 0.01 0.41 0.31 0.02 FR
And 120.8 124.8 4.0 0.58 0.21 0.01 0.11 0.90 0.14 0.07 FR
And 149.5 193.5 44.0 1.34 0.45 0.06 0.02 1.88 0.20 0.02 FR
Including 174.5 192.5 18.0 2.37 0.79 0.12 0.01 3.29 0.30 0.02 FR
DDH22LU125 0.0 27.5 27.5 2.09 1.01 0.27 0.03 3.40 NA NA Ox
And 50.0 56.1 6.1 0.67 0.21 0.03 0.04 0.96 0.07 0.01 FR
DDH22LU128 104.2 106.2 2.0 0.25 0.18 0.00 0.01 0.43 0.07 0.01 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material.
Given the orientation of the hole and the mineralization, the intercepts are estimated to be 80% to 95% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. 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 historic total nickel assays
NEWS RELEASE
18 April 2023
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Figure 5: Location of Bravo Drilling and Sections Reported in this News Release
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18 April 2023
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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 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
18 April 2023
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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 a s “comparing well ”, “seemingly unrelated”, “evidence”, “expected”,
“better define”, “interpret”, “seek”, “potential”, “ variants of these words and other similar words, phrases, or
statements that certain events or conditions “will” or occur. This news release contains forward-looking information
pertaining to the Company’s ongoing drill and trenching programs and the results thereof; the expected completion
of geophysical surveys and the results of such surveys; the potential for the definition of new styles of mineralization
(including magmatic Ni sulphides and copper) and the potential for extensions to depth ; the interpretation that Ni
grades increase in the basal portions of the intrusion 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. For ward-
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 Ni 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 condit ions 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 informati on. The
Company disclaims any intention or obligation to update or revise any forward -looking information, other than as
required by applicable securities laws.