Bravo Intersects Shallow, Wider and Higher-Grade PGM+Au+Ni Mineralization in the North Sector at Luanga Highlights include 29m at 2.40g/t PGM+Au, 0.10% Ni (including 3m at 1.41g/t Rhodium), and 22m at 1.82g/t PGM+Au, 0.14% Ni
NEWS RELEASE
21 February 2024
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Bravo Intersects Shallow, Wider and Higher-Grade PGM+Au+Ni
Mineralization in the North Sector at Luanga
Highlights include 29m at 2.40g/t PGM+Au, 0.10% Ni (including 3m at 1.41g/t Rhodium),
and 22m at 1.82g/t PGM+Au, 0.14% Ni
VANCOUVER, February 21, 2024 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”)
announced that it has received assay results from seven diamond drill holes (“DDH”) from the North Sector at 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.
“Results continue to extend PGM+Au+Ni mineralization at depth, now in the North Sector, with minerali zation
extending from ~100m to ~200m below surface , which is still relatively shallow when compared to the greater than
400m depths demonstrated in the Central Sector, ” said Luis Azevedo, Chairman and CEO of Bravo. “Again, assay
grades and mineralized thicknesses typically improve at depth, as can be seen in Figures 1 and 2. We also see early
evidence of copper sulphides in greater concentration relative to nickel sulphides , as well as localized high -grade
rhodium, in the North Sector.”
Highlights Include:
▪ Drilling in the North Sector continues to improve in grade and thickness below the limits of the current Mineral
Resource Estimate (“MRE”), for example:
o DDH23LU224 on Section 1 (28.9m at 2.44g/t PGM+Au, 0.10% Ni) is significantly thicker and higher -
grade compared to up dip hole DDH23LU202 (10.0m at 0.80g/t PGM+Au, 0.12% Ni).
o DDH23LU219 on Section 2 (22.4m at 1.82g/t PGM+Au and 9.1m at 2.22g/t PGM+Au) is also a significant
improvement over historic drill hole PPT -LUAN-FD0002 up dip (11.7m at 1.08g/t PGM+Au and 20.0m
at 0.77g/t PGM+Au respectively).
▪ The North Sector drilling is at an earl ier stage as compared to the Central Sector , where mineralization has
been extended to depths of more than 400m. The potential to define and extend existing mineralization below
depths as shallow as 100m is now being demonstrated.
▪ Results in the North Sector continue to support the potential for future growth in Luanga’s MRE.
▪ Narrow zones of copper sulphides and localized high-grade rhodium have also been intersected in the North
Sector.
▪ Bore-hole Electromagnetic (“EM”) survey team working in parallel with exploration drilling.
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)
DDH23LU216 229.50 230.50 1.00 0.53 2.24 1.13 0.01 3.92 0.01 FR
DDH23LU219 236.93 259.30 22.37 1.16 0.52 0.10 0.04 1.82 0.14 FR
And 271.50 280.65 9.15 1.48 0.65 0.08 0.01 2.22 0.06 FR
DDH23LU221 259.00 264.00 5.00 3.27 1.96 0.26 0.01 5.50 0.17 FR
And 271.00 275.00 4.00 0.92 1.33 0.19 0.13 2.58 0.11 FR
DDH23LU224 118.20 147.15 28.95 1.02 1.09 0.27 0.01 2.40 0.10 FR
Including 124.20 127.20 3.00 0.67 1.28 1.41 0.01 3.36 0.03 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 140% of true thickness.
Type: Ox = Oxide. 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 historical total nickel assays.
NEWS RELEASE
21 February 2024
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Luanga Drilling Update
Results from seven diamond drill holes have been received from the North Sector. All the drill holes herein reported
are angled holes (60 degrees) towards a 090° azimuth. Together, this set of drill holes comprise a total of 2,204
metres of diamond drilling.
Section 1 (Figure 1) in the North Sector shows DDH23LU224 which was drilled to test below DDH23LU202. PGM+Ni
mineralization intersected in DDH23LU224 (28.9m at 2.44g/t PGM+Au, 0.10% Ni) is significantly thicker and higher-
grade compared to the up-dip intersection in DDH23LU202 (10 .0m at 0.80g/t PGM+Au, 0.12% Ni) , and is less than
150m from surface. This bodes well for future growth in the MRE at relatively shallow depths . The zone of
disseminated nickel sulphides in DDH23LU202 was not repeated in DDH23LU224; however, narrow zones of higher-
grade nickel sulphide mineralization observed in DDH23LU224 are now associated with increasing levels of copper
mineralization at depth.
Figure 1: North Sector (Section 1 on Figure 3). PGM+Au mineralization significantly wider and higher-grade at depth.
NEWS RELEASE
21 February 2024
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Section 2 (Figure 2), in the North Sector, also shows evidence of increasing widths and grades at relatively shallow
depths. DDH23LU219 (22.4m at 1.82g/t PGM+Au and 9.1m at 2.22g/t PGM+Au) is also a significant improvement
over the up-dip intercept in historic drill hole PPT-LUAN-FD0002 (11.7m at 1.08g/t PGM+Au and 20.0m at 0.77g/t
PGM+Au respectively) and, as with Section 1, these results bode well for future MRE growth at relatively shallow
depths.
Figure 2: North Sector (Section 2 on Figure 3). Deeper drilling at North Sector, showing increasing widths and grades.
Drill Results Status Update
NEWS RELEASE
21 February 2024
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A total of 260 drill holes have been completed by Bravo to date, for 56,147.80 metres, including 8 metallurgical holes
(not subject to routine assaying). Results have been reported for 227 Bravo drill holes to date. Assay results for 25
Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).
Drilling of priority HeliTEM (airborne electromagnetics) targets is now accompanied by a borehole EM survey team,
on site at Luanga, progressing in parallel with drilling.
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)
DDH23LU214 187.60 188.60 1.00 0.01 <0.01 <0.01 <0.01 0.01 0.89 FR
DDH23LU216 229.50 230.50 1.00 0.53 2.24 1.13 0.01 3.92 0.01 FR
DDH23LU218 43.90 58.90 15.00 0.13 0.47 0.07 0.01 0.68 NA FR
And 273.35 277.25 3.90 0.27 0.09 0.04 0.01 0.41 0.34 FR
And 293.65 295.65 2.00 0.39 0.13 0.02 0.01 0.55 0.44 FR
And 310.80 313.80 3.00 0.23 0.07 0.01 <0.01 0.31 0.32 FR
DDH23LU219 197.75 218.70 20.95 0.33 0.56 0.02 0.01 0.93 0.03 FR
And 236.93 259.30 22.37 1.16 0.52 0.10 0.04 1.82 0.14 FR
And 271.50 280.65 9.15 1.48 0.65 0.08 0.01 2.22 0.06 FR
DDH23LU221 259.00 264.00 5.00 3.27 1.96 0.26 0.01 5.50 0.17 FR
And 271.00 275.00 4.00 0.92 1.33 0.19 0.13 2.58 0.11 FR
And 279.00 300.00 21.00 0.07 0.06 0.01 0.01 0.14 0.27 FR
DDH23LU224 0.00 6.34 6.34 0.17 0.50 0.07 <0.01 0.75 NA NA Ox
And 118.20 147.15 28.95 1.02 1.09 0.27 0.01 2.40 0.10 0.02 FR
Including 124.20 127.20 3.00 0.67 1.28 1.41 0.01 3.36 0.03 0.01 FR
And 153.90 155.90 2.00 0.26 0.31 0.04 0.20 0.81 0.21 0.51 FR
And 223.90 228.90 5.00 0.36 0.21 <0.01 0.14 0.70 0.18 0.74 FR
And 275.15 277.15 2.00 0.67 0.26 <0.01 0.04 0.98 0.12 0.13 FR
DDH23LU226 No significant results
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 140% of true thickness.
Type: Ox = Oxide. 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 historical total nickel assays
NEWS RELEASE
21 February 2024
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Figure 3: Location of Bravo Drilling and Sections Reported in this News Release
NEWS RELEASE
21 February 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 18,000 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
21 February 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 “ wider”, “ high-grade”, “ improve”, “growth ”, “extend”, “greater”,
“extended”, “increasing”, “potential”, “significant”, “indicative”, “continue”, “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 p ertaining to the Company’s ongoing drill program and the results
thereof; comparisons to historical and prior Bravo drilling; the potential for extensions to mineralization at depth; the
potential for greater thicknesses and/or higher grades at depth; the implications of higher copper grades in certain
areas and the importance of locally high rhodium grades in the North Sector; 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, ch anges 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
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 t his 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.
NEWS RELEASE
21 February 2024
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Schedule 1: Drill Hole Collar Details
HOLE-ID Company East (m) North (m) RL (m) Datum Depth
(m) Azimuth Dip Sector
DDH23LU214 Bravo 659230.64 9343275.01 218.241 SIRGAS2000_UTM_22S 275.05 90.00 -60.00 North
DDH23LU216 Bravo 659663.76 9342656.37 267.133 SIRGAS2000_UTM_22S 301.80 90.00 -60.00 North
DDH23LU218 Bravo 659726.12 9342474.99 262.304 SIRGAS2000_UTM_22S 358.70 90.00 -60.00 North
DDH23LU219 Bravo 659244.09 9342922.21 224.865 SIRGAS2000_UTM_22S 300.20 90.00 -60.00 North
DDH23LU221 Bravo 659900.38 9342124.99 249.794 SIRGAS2000_UTM_22S 367.80 90.00 -60.00 North
DDH23LU224 Bravo 659755.41 9342616.02 270.122 SIRGAS2000_UTM_22S 350.60 90.00 -60.00 North
DDH23LU226 Bravo 659242.68 9343373.55 220.017 SIRGAS2000_UTM_22S 250.15 90.00 -60.00 North
Schedule 2: Assay Methodologies and QAQC
Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in
Parauapebas, state of Par á, 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 SGS Geosol laboratory by Bravo staff. Additional
information about the methodology can be found on the SGS Geosol website ( SGS) in their 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 SGS Geosol
Preparation Method Method Method Method
For All Elements Pt, Pd, Au Rh Sulphide Ni, Cu Trace Elements
PRPCLI (85% at 200#) FAI515 FAI30V AA04B ICP40B