BRVO.V · 2022-06-22 12:00:00

Bravo Provides Inaugural 2022 Drill Results from its Luanga PGM+Au+Ni Project

Drill Results

NEWS RELEASE

22 June 2022

Highlights include 19.5m @ 8.52g/t 3 PGMs + Au (including 0.37g/t rhodium) and 0.18% Ni from 59.5m

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSMINATION IN THE UNITED STATES

VANCOUVER, BC, June 22, 2022 – Bravo Mining Corp. (“Bravo” or the “Company”) today announced that it has

received assay results from two twin holes, the first two of seven that are planned at its Luanga platinum group

metals (palladium + platinum + rhodium) + gold + nickel (PGM+Au+Ni) project (“Luanga”), located in the Carajás

Mineral Province, state of Par á, Brazil . The results of the twin holes closely correlate with the immediately

adjacent historic drill holes in both tenor and mineralized thicknesses.

“We are pleased with the results of our inaugural Luanga Phase 1 25,500m confirmation, infill and step out drill

program with the receipt of the assays from two twin drill holes that confirm the immediately adjacent VALE SA

drill holes,” said Luis Azevedo, Chairman and CEO of Bravo. “We look forward to continuing to provide updates as

our drilling and re-assay programs ramp up.”

Highlights

▪ Assay results from two of the seven planned twin drill holes aimed at confirming results from historic VALE

SA drilling have been received demonstrating a strong correlation with the historic intercept grades and

thicknesses.

▪ Highlights of Bravo’s intercepts are tabulated below, and comparisons with the historic intercepts are

provided on the following pages.

HOLE-ID From

(m)

Thickness

(m)

(g/t)

Ni %

(Sulphide)

4E*

(g/t)

TYPE

DDH22LU001 0.00 51.48 51.48 1.30 0.57 0.09 0.16 NA 2.12 OX/SUL

Including 26.45 51.58 25.04 1.38 0.61 0.10 0.17 0.12 2.26 SUL

And 59.50 79.00 19.50 5.35 2.54 0.37 0.27 0.18 8.52 SUL

DDH22LU006 0.00 37.22 37.22 1.88 0.81 0.13 0.26 NA 3.08 OX/SUL

• *4E = palladium + platinum + rhodium + gold.

• All From To depths, and Thicknesses are downhole

• Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~70 to 100% of true thickness.

• Ox = Oxide. Sul = Sulphide. Recovery methods and results will differ based on the type of mineralization

• NA: Not Applicable as intercept is a mix of oxide and sulphide mineralization.

Twin Hole Drill Program

Of the 252 historic drill holes completed by VALE SA, seven were selected for twinning using diamond core of the

same size (NQ) as the historic drill hole s. To date , four twin holes have been completed aggregating 608.10m.

These twin holes were designed to be spread evenly along the approximate 7km of strike of the Luanga project,

testing mineralization with a range of tenor.

Bravo has received final assay results (including palladium, platinum, rhodium, gold and nickel sulphide) for the

first two twin holes (shown below , Schedule 1). Samples were submitted to ALS Brasil Limitada’s (“ ALS”)

NEWS RELEASE

22 June 2022

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

laboratories in Peru and Vancouver for assaying (Schedule 2).

A comparison of the original historic intercepts with the Bravo twin hole intercepts is tabulated below. Bravo’s

twin hole intercepts closely correlate with the immediately adjacent historic drill holes in both thicknesses and

grades, noting that Bravo nickel grades are for sulphide nickel, which is representative of potentially recoverable

nickel (by conventional flotation treatment), and does not include non-recoverable silicate nickel.

Location of Bravo twin holes

NEWS RELEASE

22 June 2022

Cross section showing twin hole DDH22LU001

Comparison of assay results from Bravo twin diamond drill holes and historic VALE SA diamond drill holes

TWIN of Historic Hole PPT-PUAN-FD0036

HOLE-ID From

(m)

Thickness

(m)

Aggregate

Thickness (m)

Historic SGS

4E* (g/t)

Bravo ALS

4E* (g/t)

DDH22LU001

0.00 51.48 51.48 70.98# 3.88

59.50 79.00 19.50

PPT-LUAN-FD0036 0.00 71.00 71.00 71.00 3.71

TWIN of Historic Hole PPT-PUAN-FD0145

HOLE-ID From

(m)

Thickness

(m)

Aggregate

Thickness (m)

Historic SGS

4E* (g/t)

Bravo ALS

4E* (g/t)

DDH22LU006 0.00 37.22 37.22 3.08

PPT-LUAN-FD0145 0.00 40.00 40.00 2.92

• *4E = palladium + platinum + rhodium + gold.

• All From/To depths, and Thicknesses are downhole.

• Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~70 to 100% of true thickness.

# A late dyke cuts obliquely across the ore zone, splitting but not removing mineralization. The aggregated total is the same.

NEWS RELEASE

22 June 2022

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 Direct ors, 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 a nd 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 by comparing

assay data from the twin drill holes with the historic assay data from each of the adjacent historic drill holes and

considers that there has been no material change from the results described in the technical report titled

“Independent Technical Report for the Luanga PGE+Au+Ni Project, Pará State, Brazil” dated May 29 th, 2022, with

an effective date of April 12th, 2022.

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 t he 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.

For further information about Bravo, please contact:

Alex Penha

EVP Corporate Development

[email protected]

NEWS RELEASE

22 June 2022

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 “anticipate”, “comparable”, and other similar words, or statements

that certain events or condi tions “may” or “will” occur. In particular, this news release contains forward -looking

information pertaining to the Company’s ongoing re-assay and drill programs; 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; 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; th at 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

DDH22LU001 Bravo 657148.27 9339726.11 271.989 SIRGAS2000 UTM22S 100.35 360.00 -60.00

DDH22LU006 Bravo 658495.77 9340828.05 243.045 SIRGAS2000 UTM22S 76.55 330.00 -60.00

PPT-LUAN-FD0036 Historic 657149.27 9339723.77 272.080 SIRGAS2000 UTM22S 140.25 0.00 -60.00

PPT-LUAN-FD0145 Historic 658495.30 9340827.75 243.210 SIRGAS2000 UTM22S 204.45 330.00 -60.00

Schedule 2: Assay Methodologies and QAQC

Drill core sampling followed a 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. The NQ drill core was quarter cut and placed in secur ed polyurethane bags, then in security -sealed

sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo

staff. If the ALS rhodium overlimit of >1.00g/t rhodium is reached Bravo will send the pulps to SGS re-analysis.

Samples were prepared and analyzed following procedures summarized in the table below and additional

information about the methodology can be found on the respective ALS or SGS global websites (ALS, SGS) in their

analytical guides. Information regarding preparation and analysis of historic drill core is also presented in this table

where the information is known.

NEWS RELEASE

22 June 2022

Quality Assurance and Quality Control (“ QAQC”) is maintained internally at the lab through rig orous 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 Method Method Method

For All Elements Pt, Pd, Au Rh Ni-Sulphide Trace Elements

PREP-31B PGM-ICP27 Rh-MS25 Ni-ICP05 ME-ICP61

Bravo SGS Geosol

Preparation Method Method Method Method

For All Elements Pt, Pd, Au Rh Ni-Sulphide Trace Elements

PREP-31B FAI515 FAA35J N/A N/A

Historic Drill Assaying SGS Geosol

Preparation Method Method Method Method

For All Elements Pt, Pd, Au Rh TOTAL Ni Trace Elements

Crushed to <200

mesh

FA30A FA30B ICP-117 ICP-117

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