BRVO Bravo Mining Corp

Highlights include 3.2m at 2.86g/t PGM+Au, 1.81% Ni, and 0.18% Cu from 59.1m; 43m at 2.34g/t PGM+Au, 0.29% Ni from 246.8m, and 11m at 5.02g/t PGM+Au, 0.27% Ni from 271.4m

VANCOUVER, BC, July 11, 2023 /CNW/ - Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") announced that it has received assay results from twenty-one diamond drill holes ("DDH") from the Southwest, Central and North Sectors 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 include the initial eight DDH from Phase 2 Program that is successfully targeting potential extensions to mineralization down to approximately 300m below surface, which is twice as deep as Bravo drilled in its Phase 1 Program.

"The Phase 2 drill program is progressing as planned with initial results indicating PGM+Au+Ni mineralization is present as expected from ~150m to ~300m below surface (see Figures 3 and 4) with comparable thicknesses and grades to those intercepted at shallower depths tested during our Phase 1 Program," said Luis Azevedo, Chairman and CEO of Bravo. "Drill hole DDH23LU184 has intercepted additional evidence of magmatic nickel sulphide mineralization in the Southwest Sector, further supporting the potential for nickel sulphides at depth at Luanga. We continue to be encouraged with such results, particularly as we await the final data interpretation of the recently completed HeliTEM survey, where preliminarily data interpretation suggests promising anomalies are present."

Highlights Include:

• DDH23LU184 returned further evidence of massive sulphide nickel in the Southwest Sector (Figure 1).
• First results from deeper drilling (Phase 2 Program) in the Central Sector have successfully identified mineralization to depths of up to ~300m below surface (Figures 3 and 4) with similar thicknesses and grades (PGM+Au and Ni Sulphide) as those in shallower Bravo drilling on the same sections.
• HeliTEM (airborne electromagnetics) was completed over the entire (7.810ha) Luanga project. Preliminary data shows that promising anomalies are present. Final data (expected soon) will enable full interpretation.

Luanga Drilling Update

Results from a further twenty-one diamond drill holes have been received, including the first eight drill holes from the Phase 2 Program targeting potential extensions of PGM+Au+Ni mineralization down to approximately 300m below surface, or twice as deep as Bravo drilled in Phase 1. Results from five drill holes are from the Southwest Sector, eleven from the Central Sector, and five from the North Sector are reported in this news release. Results confirm that mineralization extends to depth at similar thicknesses and grades to intercepts in historic drilling on nearby drill sections, and in Bravo's Phase 1 drill program.

In the Southwest Sector, another zone of magmatic nickel sulphide mineralization has been intersected, with 3.2m of massive and semi-massive sulphides intercepted in DDH23LU184 (Figure 1), providing further evidence of magmatic nickel sulphides in the Southwest Sector. Assay results also show consistency with historical results for PGMs compared with intercepts in historic drilling on neighbouring drill sections.

Section 1 (Figure 3) in the Central Zone shows increasing nickel values at depth, continuing to broadly support an enrichment in disseminated magmatic nickel sulphide throughout the Central Sector (Figure 2) compared to the North and Southwest Sectors. Completed drill holes, which are awaiting assay results, are highlighted on Figure 4, demonstrating the pattern of Phase 2 step out drilling. Section 1 drill-hole DDH23LU162 and Section 2 drill-hole DDH23LU170 have both now defined mineralization to depths of approximately 250 metres below surface.

A total of 197 drill holes (62 in 2023) have been completed by Bravo to date, for 37,645 metres, including all 8 planned twin holes and all 8 metallurgical holes (not subject to routine assaying).

Results have been reported for 169 Bravo drill holes to date. Results for 20 Bravo drill holes are currently outstanding (excluding the metallurgical holes). Completed drill holes with results pending are highlighted on Figure 4.

Complete Table of Recent Intercepts.

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.

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 "compare well", "elevated", "anticipated", "future results", "continue", "potential", "Successful", "interpretation", "anomalies", 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 additional massive Ni sulphides in the Southwest Sector; elevated Ni sulphide grades and the interpretation of a single main mineralized zone in the Central Sector; the comparisons to historical and prior Bravo drilling; the preliminary results of airborne geophysical surveys and whether any preliminary or future interpretations of anomalies are related to mineralization; 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, 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

Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the SGS laboratory in Parauapebas, state of Pará, 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 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.

SOURCE Bravo Mining Corp.