BRVO.V · 2022-07-26 12:00:00

Bravo Intersects High Grade PGMs (including Rhodium), Au & Ni at Luanga, Brazil Highlights include 11.0m

Drill Results

Bravo Intersects High Grade PGMs (including

Rhodium), Au & Ni at Luanga, Brazil

Highlights include

11.0m

@ 6.50g/t PGM + Au (including 0.34g/t Rhodium), and 0.32% Ni

Sulphide, and

8.6m

@ 6.45g/t PGM + Au (including 0.36g/t Rhodium)

VANCOUVER, BC

July 26, 2022

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

Bravo

" or the

Company

") today announced it has received assay results from a further five diamond drill holes

("DDH") (four infill drill holes and one twin drill hole), bringing the total to 42 drill holes (including four

twin drill holes) completed to date at its wholly owned Luanga platinum group metals (palladium +

platinum + rhodium) + gold + nickel (PGM+Au+Ni) project ("

Luanga

"), located in the Carajás Mineral

Province, state of Pará ,

Brazil

. Samples for a further 15 drill holes are already at the laboratory for

analysis.

"We are very pleased with the successful launch of Bravo Mining on the TSXV, especially given

current market conditions, and believe this underscores the quality of the Luanga Project and its

management team. Results from our Luanga Phase 1 (

25,500m

) confirmation, infill, step out and

twin hole drill program continue to both support the historical results and build our ongoing

confidence in the Luanga deposit", said

Luis Azevedo

, Chairman and CEO of Bravo. "We look

forward to providing regular updates as our drilling and re-assay programs continue to ramp up,

and our metallurgical and environmental baseline programs get underway."

Highlights

42 DDH drilled to date, including 4 twin holes, for a total of

6,678m

out of Phase 1

25,500m

drilling program;

5,833 samples submitted for assay and results pending for 15 DDH;

5 drill rigs onsite; to be increased to 6 in

August 2022

;

Assay results of the twin hole (the third of seven planned twin holes) closely correlate with the

immediately adjacent VALE SA historic ("historic" or "historical") drill hole in both tenor and

mineralized thickness, while assays from the four planned drill holes aimed at infilling the existing

wide spaced drilling, confirm the tenor, widths and continuity of mineralization seen in adjacent

historic drill sections;

Highlights of Bravo's intercepts are tabulated below, with details attached.

HOLE-ID

From

(m)

Thickness

(m)

(g/t)

Au (g/t)

Ni % (Sulphide)

PGM + Au (g/t)

TYPE

DDH22LU003

33.2

70.0

36.8

1.53

0.70

0.10

0.30

0.17

2.64

And

89.0

94.2

5.2

1.51

0.72

0.11

0.17

0.15

2.52

DDH22LU004

78.6

91.6

13.0

1.63

0.77

0.14

0.06

0.13

2.60

DDH22LU007

105.6

131.0

25.4

2.17

1.11

0.19

0.17

0.20

3.64

Including

120.0

131.0

11.0

3.84

1.98

0.34

0.33

0.32

6.50

DDH22LU008

0.0

8.6

3.39

2.66

0.36

0.03

6.45

And

27.6

42.6

15.0

0.82

0.34

0.07

0.03

1.25

Including

32.6

42.6

10.0

1.09

0.41

0.07

0.04

1.60

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

Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~75 to 90% of true thickness.

Ox = Oxide. 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.

Luanga Drill Program

The Phase 1 drill program at Luanga is designed to confirm, infill and step out from the previously

defined mineralization in order to increase confidence in the geological model and provide the basis

for future mineral resource estimates.

As part of the Phase 1 program, Bravo has received final assay results (including palladium,

platinum, rhodium, gold and nickel sulphide) for the third twin hole and the first four infill drill holes

(shown below and listed in Schedule 1). Samples were submitted to ALS Brasil Limitada's ("

ALS

preparatory laboratory in Parauapebas, located approximately 72km from Luanga, and then sent to

their laboratories in

Peru

and

Vancouver

for assaying (Schedule 2).

Drilling by Bravo on new infill sections has, in several parts of the Luanga deposit, intersected zones

containing significant amounts of coarser disseminated sulphides not previously observed in historic

drilling. An example is shown in the photo below of samples from drill hole DDH22LU039 (assays

pending). In some cases, these zones also include narrow bands of semi-massive sulphides.

Pending assay results will determine how these zones correlate to grades.

Drill Core from DDH22LU039 – Selected samples from between 128.80m and 131.50m (CNW

Group/Bravo Mining Corp.)

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

Cross Section Showing Twin Hole DDH22LU007 (CNW Group/Bravo Mining Corp.)

A comparison of the original historic intercept with the Bravo twin hole intercept is tabulated below.

Bravo's twin hole intercept closely correlates with the adjacent historic drill hole in both thicknesses

and grade, noting that Bravo nickel grades are for sulphide nickel which is representative of actual

potentially recoverable (by froth flotation treatment) nickel, and does not include non-recoverable

silicate nickel whereas VALE's assays were total nickel, including both sulphide and non-recoverable

silicate nickel.

Comparison of assay results from Bravo twin diamond drill hole of historic

VALE SA diamond drill hole

TWIN of Historic Hole PPT-LUAN-FD0069

HOLE-ID

From

(m)

Thickness (m)

HISTORIC SGS

PGM + Au (g/t)

BRAVO ALS

PGM + Au (g/t)

DDH22LU007

105.6

131.0

25.35

3.64

PPT-LUAN-FD0036

99.0

124.0

25.00

3.88

All From/To depths, and Thicknesses are downhole.

Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~75 to 90% of true thickness.

Drilling Progress

Bravo now has five diamond drill rigs operating at Luanga, with the sixth rig off site for servicing. The

Phase 1 drill program is focused on confirming the results of the extensive historic drilling that

included 252 core holes aggregating

50,353m

completed by the previous owner in the early 2000s.

The footprint of the Luanga deposit encompasses 238 of these holes. Bravo has now completed 42

holes (aggregating

6,678m

of drilling) including four twin holes. Holes are being systematically

logged, sampled and sent for assay. To date, 5,833 samples have been submitted for assay. Assay

results are currently pending for 15 drill holes.

Drill holes DDH22LU003, 004, 007 and 008 all successfully intersected the main Luanga mineralized

zone, which lies at the contact between the mafic and ultramafic rock sequences, confirming the

tenor, width and continuation of mineralization seen in nearby wide spaced historic drill sections.

DDH22LU008 was collared on top of the main mineralized zone, intersecting grade from surface,

while DDH22LU002 was drilled too far north, intersecting the mafic sequence in the hangingwall,

which still contains low grade zones of mineralization.

Complete Table of Assay Results

HOLE-ID

From

(m)

Thickness (m)

(g/t)

Au (g/t)

Ni % (Sulphide)

PGM + Au (g/t)

TYPE

DDH22LU002

99.6

131.0

32.4

0.24

0.27

0.03

<0.01

0.54

DDH22LU003

0.0

2.4

0.71

0.28

0.05

0.07

0.92

And

25.4

28.2

2.8

0.57

0.25

0.04

0.07

0.92

And

33.2

70.0

36.8

1.53

0.70

0.10

0.30

0.17

2.64

And

75.0

82.0

7.0

0.20

0.09

0.02

0.06

0.13

0.37

And

89.0

94.2

5.2

1.51

0.72

0.11

0.17

0.15

2.52

And

115.5

138.0

22.5

0.24

0.21

0.01

<0.01

0.47

DDH22LU004

78.6

91.6

13.0

1.63

0.77

0.14

0.06

0.13

2.60

And

60.6

76.6

16.0

0.24

0.13

0.02

0.04

0.06

0.42

And

126.6

130.2

3.6

0.24

0.75

0.12

<0.01

1.11

DDH22LU007

100.6

131.0

30.4

1.90

0.97

0.17

0.14

0.20

3.19

Including

105.6

131.0

25.4

2.17

1.11

0.19

0.17

0.20

3.64

Including

120.0

131.0

11.0

3.84

1.98

0.34

0.33

0.32

6.50

DDH22LU008

0.0

8.6

3.39

2.66

0.36

0.03

6.45

And

27.6

42.6

15.0

0.82

0.34

0.07

0.03

1.25

Including

32.6

42.6

10.0

1.09

0.41

0.07

0.04

1.60

All From To depths, and Thicknesses are downhole

Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~75 to 90% of true thickness.

Ox = Oxide. 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.

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.

Bravo was founded by a management team and board with extensive Brazilian and PGM

exploration, permitting, project financing, construction and operating experience. This includes

Luis

Azevedo

, Executive Chairman & CEO;

Simon Mottram

, President;

Alex Penha

, EVP Corporate

Development; and Independent Directors, Dr.

Nicole Adshead-Bell

(Lead Director),

Stuart Comline

Tony Polglase

and

Stephen Quin

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.

Historical Information

This news release includes historical drilling and historical assay results generated by the prior

owner of Luanga that have been reviewed by the Company's geological team. The Company's

review of the historical records and information reasonably substantiate the validity of the historical

information presented in this news release; however, the Company cannot directly verify the

accuracy of the historical data, including the procedures used for sample collection and analysis.

Therefore, the Company encourages investors to exercise appropriate caution when evaluating the

historical results. Further data review, drilling of twin holes and infill drilling is underway in order to

verify the validity of the data for use, alongside Bravo's new drilling and re-assay data, in any future

NI 43-101 compliant mineral resource estimate.

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 "closely", "confirm", "continuity",

"correlate", "designed", "determine", "increase confidence", "look forward", "pending", "ramp up"

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

occur. In particular, this news release contains forward-looking information pertaining to the

Company's ongoing re-assay and drill programs; the expected arrival of additional drill rigs and

delivery of historic core; 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

additional drill rigs and historic core will arrive within the anticipated timeframe; 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

DDH22LU002

Bravo

657099.99

9339714.97

277.355

SIRGAS2000 UTM22S

152.35

360.00

-60.00

DDH22LU003

Bravo

657199.98

9339715.45

254.52

SIRGAS2000 UTM22S

150.50

360.00

-60.00

DDH22LU004

Bravo

657300.03

9339777.59

252.05

SIRGAS2000 UTM22S

203.40

360.00

-60.00

DDH22LU007

Bravo

659092.89

9341002.10

241.231

SIRGAS2000 UTM22S

230.40

330.00

-60.00

DDH22LU008

Bravo

659827.13

9341623.78

242.572

SIRGAS2000 UTM22S

150.60

330.00

-60.00

Schedule 2: Assay Methodologies and QAQC

Samples followed chain of custody between collection, processing and delivery to the ALS

laboratory in Parauapebas, state of Pará ,

Brazil

. The drill core was delivered to the core shack at

Bravo's Luanga site facilities and processed by geologists who inserted certified reference

materials, blanks and duplicates into the sampling sequence. Drill core was 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. 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.

Bravo ALS

Preparation

Method

For All Elements

Pt, Pd, Au

Ni-Sulphide

Trace Elements

PREP-31B

PGM-ICP27

Rh-MS25

Ni-ICP05

ME-ICP61

Historic Drill Assaying SGS Geosol

Preparation

Method

For All Elements

Pt, Pd, Au

TOTAL Ni

Trace Elements

Crushed to <200 mesh

FA30A

FA30B

ICP-117

SOURCE

Bravo Mining Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/July2022/26/c2099.html

%SEDAR: 00054599E

For further information:

please visit www.bravomining.com or contact: Alex Penha, EVP

Corporate Development, [email protected]

CO: Bravo Mining Corp.

CNW 06:30e 26-JUL-22

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