Bravo’s Re-sampling Program Continues to Outperform Historic Grades at Luanga
NEWS RELEASE
28 November 2022
1 | P a g e
Bravo’s Re-sampling Program Continues to Outperform Historic Grades at Luanga
Re-sampling highlights include: 30m @ 2.34g/t PGM + Au
And: 24m @ 2.08*g/t PGM + Au and 0.21% Nickel
VANCOUVER, November 28, 2022 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the
“Company”) today announced that it has received assay results from the analysis of re-sampled historic drill core
from an additional eight historical diamond drill holes (“DDH”) from its Lu anga (palladium + platinum + rhodium
+ gold +nickel) project (“Luanga” or “Luanga PGM+Au+Ni”), located in the Carajás Mineral Province, state of Pará,
Brazil.
“Assay results have been received from a total of 42 re-sampled historic drill holes to date, with the previously
noted positive trend of higher PGM+Au grades continuing to be observed in most intercepts as compared to
historical intercepts,” said Luis Azevedo, Chairman and CEO of Bravo. “It is also encouraging that nickel sulphide
grades are very comparable to the historical total nickel results, suggesting that very little nickel is tied up in
silicates in the fresh rock . All these observations , combined with the first -time assaying for rhodium in many
intercepts, are supportive as we work to validate Luanga’s historical mineral resource estimate of 142Mt @ 1.24
g/t Pd+Pt+Au and 0.11% Ni” (see Page 5 of this news release for important information in respect of the Historical
Estimate).
Highlights
▪ Results from the ongoing re-sampling of historic drill core continue to show a tendency to exceed the tenor
of historic intercept grades, with mineralized thicknesses directly comparable to the thicknesses reported for
historic intercepts.
▪ Highlights of Bravo’s most recent re-sampling results are tabulated below, with details including comparisons
to historic intercepts:
HOLE-ID FROM
(m)
TO
(m)
THICKNESS
(m)
HISTORIC SGS
PGM + Au (g/t)
BRAVO ALS
PGM + Au (g/t)
HISTORIC
Ni % (Total)
BRAVO**
Ni % (Sulphide) TYPE
PPT-LUAN-FD0072 79.0 86.
0
7.0 1.19 1.50 0.09 0.08 FR
PPT-LUAN-FD0082 44.0 68.
0
24.0 1.59 2.08* 0.18 0.21 FR
PPT-LUAN-FD0112 0.0 30.
0
30.0 1.34 2.34 0.24 NA Ox
And 139.0 156
.0
17.0 1.02 2.15 0.01 0.01 FR/LS
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 80% to 90% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. 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.
* = Includes Rh >1.00g/t result. Overlimit analyses pending.
** = Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays.
▪ 119 drill holes (including 8 metallurgical drill holes) have been completed so far in 2022, for a total of 20,409
metres (or 80% of the Phase 1 Drill Program). Currently, samples from 46 drill holes are at the assay laboratory
pending results, and results from 34 drill holes have been released to date.
▪ 22,318 samples have been submitted for assay in 2022, including 3,353 samples from re-sampling of historic
drill core.
▪ 6 drill rigs operating onsite.
NEWS RELEASE
28 November 2022
2 | P a g e
Luanga Re-Sampling Program and Phase 1 Drilling Progress
A comparison of the historic intercepts with the Bravo assay results from re-sampled core is tabulated below, with
a plan showing the re-sampled hole locations. A drill section is provided below, showing results for PPT-LUAN-
112. Bravo’s assay results from re -sampled core continue to closely correlate to the historic intercepts in
thicknesses, while the previously observed trend of intercepts frequently exceeding the tenor of historic grades
continues. This is most likely related to improved assay methods for PGMs versus those available over 20 years
ago, and only sporadic rhodium assaying historically.
The Phase 1 diamond drill program continues as planned at Luanga. Six drill rigs are on site, with drilling
progressing in various locations along the entire 8.1km strike length of the known Luanga mineralized envelope.
To date, 114 drill holes have been completed, for a total of 19,384 metres (or 76%) of the planned 25,500 metre
Phase 1 drill program.
Comparison of Re-Sampled Intercepts – Historic Intercept (SGS Laboratory) versus Bravo Intercept (ALS Laboratory)
HOLE-ID From
(m)
To
(m)
Thickness
(m)
HISTORIC SGS
PGM + Au (g/t)
BRAVO ALS
PGM + Au (g/t)
HISTORIC
Ni % (Total)
BRAVO**
Ni % (Sulphide) TYPE
PPT-LUAN-FD0072 44.0 60.0 16.0 0.72 0.71 0.16 0.18 FR
And 79.0 86.0 7.0 1.19 1.50 0.09 0.08 FR
PPT-LUAN-FD0073 26.0 44.0 18.0 0.81 0.84 0.15 0.16 FR
PPT-LUAN-FD0082 0.0 19.0 19.0 0.81 0.83 0.10 NA Ox
And 44.0 68.0 24.0 1.59 2.08* 0.18 0.21 FR
And 81.0 84.0 3.0 0.90 1.00 0.09 0.08 FR
PPT-LUAN-FD0083 57.0 63.0 6.0 0.28 0.23 0.15 0.13 FR
And 68.0 74.0 6.0 0.17 0.14 0.11 0.09 FR
PPT-LUAN-FD0096 292.0 307.0 15.0 0.50 0.48 0.10 0.10 FR
PPT-LUAN-FD0112 0.0 30.0 30.0 1.34 2.34 0.24 NA Ox
And 139.0 156.0 17.0 1.02 2.15 0.01 0.01 FR/LS
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 80% to 90% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. 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.
* = Includes Rh >1.00g/t result. Overlimit analyses pending.
** = Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays.
NEWS RELEASE
28 November 2022
3 | P a g e
Complete Table of New Intercepts for Re-sampled holes
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 %
(Sulphide) TYPE
PPT-LUAN-FD0072 44.0 60.0 16.0 0.38 0.21 0.04 0.09 0.71 0.18 FR
And 79.0 86.0 7.0 0.87 0.50 0.10 0.02 1.50 0.08 FR
PPT-LUAN-FD0073 26.0 44.0 18.0 0.44 0.25 0.01 0.15 0.84 0.16 FR
PPT-LUAN-FD0082 0.0 19.0 19.0 0.61 0.18 0.01 0.03 0.83 NA Ox
And 44.0 68.0 24.0 1.22 0.62 0.20* 0.03 2.08* 0.21 FR
And 81.0 84.0 3.0 0.68 0.26 0.05 0.01 1.00 0.08 FR
PPT-LUAN-FD0083 57.0 63.0 6.0 0.12 0.09 0.01 <0.01 0.23 0.13 FR
And 68.0 74.0 6.0 0.09 0.04 0.01 0.01 0.14 0.09 FR
PPT-LUAN-FD0096 292.0 307.0 15.0 0.25 0.17 0.03 0.04 0.48 0.10 FR
PPT-LUAN-FD0112 0.0 30.0 30.0 1.38 0.82 0.11 0.04 2.34 NA Ox
And 139.0 156.0 17.0 0.77 1.17 0.19 0.02 2.15 0.01 FR/LS
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 80% to 90% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. 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.
* = Includes Rh >1.00g/t result. Overlimit analyses pending.
Section 1 – Showing PPT-LUAN-FD00112
NEWS RELEASE
28 November 2022
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Location of Historic Drill Hole Results Discussed in this Report
NEWS RELEASE
28 November 2022
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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 ag ricultural grazing land. Bravo’s current Environmental, Social and Governance
activities includes replanting trees in the project area, hiring and contracting locally, engagement with local
communities, 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 Comp any’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 Resource Estimate
This press release includes a historical resource estimate for the Luanga Project (the “ Historical Estimate ”)
prepared internally by prior owners , VALE SA, in 2017 and contained in a report by Mansur E.T., Ferreira Filho
C.F., Oliveira D.P.L. entitled “ The Luanga deposit, Carajás Mineral Province, Brazil: Different styles of PGE
mineralization hosted in a medium -size layered intrusion.” and published in Ore Geology Reviews (Volume 118,
March 2020, 103340) . A qualified person has not done sufficient work to classify the Historical Estimate as
current mineral resources or mineral reserves under National Instrument 43 -101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”) and Bravo is not treating the Historical Estimate as current mineral resources or
mineral reserves. Bravo cautions that the Historical Estimate was not prepared in accordance with NI 43-101.
There can be no certainty, following further evaluation and/or exploration work, that the Historical Estimate
can be upgraded or verified as mineral resources or mineral reserves in accordance with NI 43-101. Further, the
assays values used to calculate the nickel content in the Historical Estimate are total nickel, and thus contain both
sulphide nickel (potentially recoverable) and silicate nickel (unrecoverable by conventional methods). Bravo is not
aware whether the nickel content in the Historical Estimate has been modified to account for this or not. In
addition, no breakdown of the assay results for the individual metals contributing to this Historical Estimate has
been published and the Historical Estimate was not classified in accordance with the mineral resource categories
set out in NI 43 -101. Nevertheless, Bravo considers the Historical Estimate to be relevant to the reader’s
understanding of the status of the Project and its future potential.
For further information about Bravo, please visit www.bravomining.com or contact:
Alex Penha
EVP Corporate Development
NEWS RELEASE
28 November 2022
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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 “outperform”, “highlights”, “positive trend”, “encouraging”,
“inspiring”, “exceeding”, “correlat e”, “exceeding”, “improved”, “validate” and other similar words, phrases or
statements that certain events or conditions “could”, “should”, “potentially” or “will” occur. In particular, this news
release contains forward-looking information pertaining to the Company’s ongoing re-sampling and drill programs
and the results thereof; the potential for a continued trend of improved in grade relative to historic assays and the
possible impact on future mineral resource estimates; the potential for the definition o f new styles of
mineralization and extensions to depth and the Company’s plans in respect thereof. Forward-looking information
involves risks, uncertainties and other factors that could cause actual events, resu lts, 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, re-sampling results may vary negatively from historical results, fluctuations in
commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks,
limitations on insurance covera ge; 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, includi ng, but not limited to, the assumption that
the assay results confirm the interpreted mineralization contains significant values of nickel, copper and also
contain PGMs and Au; final drill and assay results will be in line with management’s expectations; that sample
grades from re-assayed core may continue to outperform historic grades; 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 prepar ing 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.
NEWS RELEASE
28 November 2022
7 | P a g e
Schedule 1: Drill Hole Collar Details
HOLE-ID Company East (m) North (m) RL (m) Datum Depth
(m) Azimuth Dip Sector
PPT-LUAN-FD0072 Vale SA 659387.11 9341285.56 226.76 SIRGAS2000
UTM22S 231.00 330.0 -60.0 Central
PPT-LUAN-FD0073 Vale SA 659211.28 9341185.85 226.30 SIRGAS2000
UTM22S 229.10 330.0 -60.0 Central
PPT-LUAN-FD0082 Vale SA 659734.39 9341481.67 206.98 SIRGAS2000
UTM22S 213.20 330.0 -60.0 Central
PPT-LUAN-FD0083 Vale SA 659904.92 9341589.34 233.28 SIRGAS2000
UTM22S 216.65 330.0 -60.0 Central
PPT-LUAN-FD0096 Vale SA 659609.30 9341300.37 201.82 SIRGAS2000
UTM22S 320.40 360.0 -90.0 Central
PPT-LUAN-FD0112 Vale SA 659393.12 9343373.87 244.94 SIRGAS2000
UTM22S 160.90 90.0 -60.0 North
Schedule 2: Assay Methodologies and QAQC
Samples followed chain of custody between collection, processing and delivery to the ALS laboratory in
Parauapebas, state of Par á, 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 quarter 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 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 the table
below, where the information is known.
Quality Assu rance 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 Method Method Method
For All Elements Pt, Pd, Au Rh Ni-Sulphide Trace Elements
PREP-31B PGM-ICP27 Rh-MS25 Ni-ICP05 ME-ICP61
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