Bravo Intercepts Shallow PGMs and Magmatic Ni Sulphides at Luanga 71.4m at 1.94g/t PGM+Au from Surface; 39.0m at 2.34g/t PGM+Au, 0.26% Ni; 9.0m at 4.02g/t PGM+Au, 0.10% Ni and 3.0m at 13.09g/t PGM+Au
NEWS RELEASE
25 May 2023
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Bravo Intercepts Shallow PGMs and Magmatic Ni Sulphides at Luanga
71.4m at 1.94g/t PGM+Au from Surface; 39.0m at 2.34g/t PGM+Au, 0.26% Ni; 9.0m at 4.02g/t
PGM+Au, 0.10% Ni and 3.0m at 13.09g/t PGM+Au
VANCOUVER, May 25 , 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “ Company”)
announced that it has received assay results from a further nineteen infill diamond 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.
“Recent assay results from infill drilling at Luanga continue to consistently enhance our understanding of the historical
data. In the Southwest Sector, DDH22LU116 intersect ed the thickest known interval of continuous PGM+Au
mineralization (in that sector),” said Luis Azevedo, Chairman and CEO of Bravo . “Further trenching is planned in the
Southwest Sector to determine whether there is an increase in grade and thickness at surface, similar to what we
observed in trenching the Central Sector . Meanwhile, results from drilling of the Central Sector continue to show
mineralization dominated by a single thick zone, with higher-than-expected nickel concentrations as drilling continues
to advance at depth. We look forward to further testing the potential for mineralization at depth with the Phase 2
drill program, and in particular the commencement of the HeliTEM survey at the end of this month, designed to cover
the whole area of the Luanga Project.”
Highlights Include:
▪ DDH22LU116 intersected the thickest known interval of continuous mineralization to date in the Southwest
Sector, and where mineralization was previously interpreted to narrow (Figure 5).
▪ Drilling continues to intercept magmatic nickel sulphides at depth, e specially in the Central Sector where
results from Bravo’s drilling outperforms historical shallower drilling results.
▪ Assay results 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.
▪ The Phase 2 drilling program commenced in the Central Sector, systematically targeting extensions to Luanga
mineralization at depth.
▪ HeliTEM (airborne electromagnetics (“EM”)) over the whole area of the Luanga project is scheduled to be gin
at the end of May.
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
DDH22LU112 158.3 182.0 23.7 1.29 0.74 0.10 0.03 2.16 0.15 0.02 FR
DDH22LU116 0.0 71.4 71.4 1.19 0.55 0.05 0.14 1.94 NA - Ox/FR
Including 0.0 18.9 18.9 2.29 0.95 0.10 0.30 3.64 NA - Ox
Including 39.6 60.5 21.0 1.18 0.62 0.06 0.16 2.02 0.22 - FR
DDH22LU118 81.1 114.2 33.1 0.45 0.85 0.02 0.00 1.32 0.02 0.01 FR
DDH22LU126 121.0 124.0 3.0 5.83 6.00 1.16 0.09 13.09 0.01 - FR
DDH23LU134 140.2 163.2 23.0 1.10 0.59 0.06 0.15 1.90 0.14 - FR
DDH23LU135 191.1 230.1 39.0 1.70 0.54 0.09 0.02 2.34 0.26 - FR
DDH23LU136 207.1 228.9 21.8 1.18 0.41 0.06 0.10 1.75 0.18 - FR
DDH23LU137 37.1 46.1 9.0 2.64 1.15 0.19 0.03 4.02 0.10 - FR
DDH23LU138 139.9 153.9 14.0 0.91 0.47 0.05 0.21 1.64 0.13 - FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material. ‘-’ Not Assayed.
Given the orientation of the hole and the mineralization, the intercepts are estimated to 105% to 120% 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
25 May 2023
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Luanga Drilling Assay Results Update
A total of 178 drill holes (43 in 2023) have been completed by Bravo to date, for 32,799 metres, including all 8 planned
twin holes and all 8 metallurgical holes (not subject to routine assaying).
Results have been reported for 138 Bravo drill holes to date, which includes all drilling completed in 2022. Excluding
the metallurgical holes, results for 32 Bravo drill holes are currently outstanding.
Drill results received from all three sectors at Luanga continue to compare well with intercepts in historic drilling on
nearby drill sections and/or results from Bravo and historical drilling on the same drill sections (Figures 1, 3 and 4).
The Central Sector (Figure 1) continues to show mineralization dominated by one thick zone , with consistent
thicknesses on section (Figure 3 – Section 1). Phase 2 drilling, which commenced in the Central Sector in April 2023,
is systematically targeting the extension of existing PGM+Au+Ni mineralization to a greater depth.
Figure 1: Central Sector (~2km strike) showing consistently improving results at depth, including consistently strong magmatic nickel results.
Elevated nickel values (Figure 2) also continue to be a feature of the Central Sector, compared to historical results
and in comparison to the North and Southwest Sectors, on a broad scale. This may be related to a significantly thicker
basal (footwall) harzburgite (ultramafic) sequence , which is also coincident with a more prolific nickel -in-soil
geochemical footprint.
NEWS RELEASE
25 May 2023
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Figure 2: Core Photos from Central Sector drilling (DDH23LU135 and 136), with PGM+Au and magmatic nickel sulphide mineralization.
Figure 3: Central Sector (Section 1 on Figure 5) – Continuation of mineralization at depth, with higher levels of magmatic nickel.
NEWS RELEASE
25 May 2023
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Drilling in the Southwest Sector also shows consistency with assay results both for PGMs and magmatic nickel
sulphides (Figure 4 – Section 2), comparing well with intercepts in historic drilling on neighbouring drill sections and
with drilling by Bravo on the same section.
Figure 4: Southwest Sector (Section 2 on Figure 5) – Continuation of mineralization at depth.
Phase 2 Program
The Phase 2 program commenced in April 2023 , with 21,500 meters of drilling planned, focused on extensional
drilling to depth (below the known mineralization) and exploration of new targets.
Surface geophysical programs, micro-gravity and detailed ground magnetics remain in progress at Luanga , while
HeliTEM (airborne EM) covering the entire Luanga project is scheduled to begin at the end of May.
NEWS RELEASE
25 May 2023
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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
DDH22LU102 68.5 71.5 3.0 1.19 0.48 0.00 0.25 1.92 0.10 0.19 FR
And 108.4 111.4 3.0 0.72 0.32 0.01 0.02 1.07 0.21 0.04 FR
And 165.4 182.4 17.0 0.63 0.31 0.05 0.01 1.00 0.10 0.02 FR
And 184.4 190.4 6.0 0.73 0.33 0.04 0.00 1.11 0.11 0.02 FR
And 224.3 232.3 8.0 0.32 0.12 0.01 0.02 0.48 0.10 0.06 FR
And 235.3 244.3 9.0 0.60 0.36 0.05 0.08 1.09 0.16 0.02 FR
DDH22LU112 123.9 131.9 8.0 0.48 0.31 0.00 0.12 0.91 0.09 0.02 FR
And 133.9 142.9 9.0 0.76 0.49 0.00 0.27 1.53 0.15 0.04 FR
And 158.3 182.0 23.7 1.29 0.74 0.10 0.03 2.16 0.15 0.02 FR
DDH22LU116 0.0 71.4 71.4 1.19 0.55 0.05 0.14 1.94 NA - Ox/FR
Including 0.0 18.9 18.9 2.29 0.95 0.10 0.30 3.64 NA - Ox
Including 39.6 60.5 21.0 1.18 0.62 0.06 0.16 2.02 0.22 - FR
DDH22LU117 153.0 161.0 8.0 0.56 0.25 0.05 0.01 0.86 0.07 0.01 FR
And 178.2 180.3 2.1 0.50 0.31 0.08 0.01 0.90 0.01 0.01 FR
DDH22LU118 0.0 8.0 8.0 0.34 1.03 0.02 0.02 1.41 NA NA Ox
And 72.9 77.1 4.3 0.23 0.83 0.00 0.00 1.06 0.02 0.01 FR
And 81.1 114.2 33.1 0.45 0.85 0.02 0.00 1.32 0.02 0.01 FR
DDH22LU120 72.3 75.3 3.0 0.48 0.25 0.00 0.05 0.78 0.04 0.03 FR
And 106.3 110.3 4.0 0.61 0.15 0.02 0.02 0.80 0.15 0.03 FR
DDH22LU124 0.0 5.1 5.1 0.69 0.98 0.03 0.27 1.96 NA NA Ox
And 43.2 46.8 3.6 3.84 0.24 0.13 0.01 4.23 0.27 0.03 FR
And 100.8 103.8 3.0 1.45 0.88 0.33 0.02 2.68 0.04 0.02 FR
And 125.8 136.8 11.0 1.09 0.75 0.12 0.01 1.97 0.05 0.01 FR
DDH22LU126 6.0 18.4 12.4 0.22 0.35 0.03 0.00 0.60 NA - Ox
And 28.9 37.4 8.5 0.22 0.35 0.01 0.00 0.58 NA - Ox/FR
And 121.0 124.0 3.0 5.83 6.00 1.16 0.09 13.09 0.01 - FR
DDH22LU127 105.7 108.8 3.1 0.51 0.21 0.00 0.01 0.73 0.19 0.04 FR
And 133.9 138.9 5.0 0.41 0.10 0.01 0.01 0.53 0.02 0.01 FR
DDH22LU129 45.1 49.1 4.0 0.04 0.01 0.00 0.01 0.05 0.20 - FR
And 97.8 98.8 1.0 0.69 0.83 0.00 0.03 1.55 0.05 - FR
And 111.8 112.8 1.0 1.32 0.43 0.00 0.15 1.91 0.26 - FR
DDH23LU130 80.9 88.9 8.1 0.31 0.11 0.02 0.02 0.46 0.09 - FR
And 98.9 104.9 6.0 0.28 0.26 0.00 0.05 0.59 0.01 - FR
And 112.9 129.9 17.0 0.83 0.28 0.03 0.01 1.16 0.14 - FR
DDH23LU131 123.7 127.3 3.6 0.41 0.15 0.01 0.03 0.60 0.32 - FR
And 129.3 150.7 21.4 0.15 0.20 0.00 0.01 0.36 0.02 - FR
DDH23LU132 80.9 84.9 4.0 1.07 0.98 0.03 0.04 2.13 0.02 - FR
And 112.9 127.9 15.0 0.75 0.25 0.04 0.04 1.06 0.18 - FR
DDH23LU133 55.0 58.0 3.0 0.16 0.08 0.00 0.03 0.28 0.22 - FR
And 73.0 78.0 5.0 0.06 0.03 0.01 0.00 0.10 0.20 - FR
And 98.0 104.0 6.0 0.17 0.05 0.04 0.03 0.29 0.27 - FR
And 143.5 153.5 10.1 0.73 0.37 0.02 0.15 1.27 0.09 - FR
DDH23LU134 74.1 79.1 5.0 0.37 0.15 0.00 0.03 0.55 0.18 - FR
And 140.2 163.2 23.0 1.10 0.59 0.06 0.15 1.90 0.14 - FR
DDH23LU135 191.1 230.1 39.0 1.70 0.54 0.09 0.02 2.34 0.26 - FR
DDH23LU136 103.7 106.7 3.0 1.07 0.38 0.00 0.24 1.70 0.27 - FR
And 131.7 135.2 3.5 0.26 0.11 0.05 0.01 0.42 0.24 - FR
And 147.4 154.0 6.6 0.82 0.30 0.01 0.19 1.31 0.21 - FR
And 189.0 198.1 9.1 0.55 0.20 0.03 0.08 0.86 0.21 - FR
And 207.1 228.9 21.8 1.18 0.41 0.06 0.10 1.75 0.18 - FR
And 263.6 300.3 36.7 0.21 0.21 0.00 0.01 0.43 0.02 - FR
DDH23LU137 0.0 4.8 4.8 1.11 0.58 0.05 0.05 1.79 0.01 - Ox
And 37.1 46.1 9.0 2.64 1.15 0.19 0.03 4.02 0.10 - FR
DDH23LU138 139.9 153.9 14.0 0.91 0.47 0.05 0.21 1.64 0.13 - FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material. ‘-’ Not Assayed.
Given the orientation of the hole and the mineralization, the intercepts are estimated to 105% to 120% 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
25 May 2023
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Figure 5: Location of Bravo Drilling and Sections Reported in this News Release
NEWS RELEASE
25 May 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 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
NEWS RELEASE
25 May 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 as “begin”, “compares well”, “confirm”, “continues”, “determine”, “look
forward to”, “plan”, “potential”, “schedule”, “targeting”, 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 thereof including the potential for
increases in grade and thickness closer to surface in the Southwest Sector and higher Ni grades at dept h, the
interpretation of magmatic Ni sulphides, the interpretation of a single main mineralized zone in the Central Sector
and the comparisons to historical and prior Bravo drilling ; 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 their potential association with thicker basal harzburgite sequence ) and the potential for extensions to
mineralization at 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, 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 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 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, undu e 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.