Mr. Luis Azevedo reports

BRAVO INTERCEPT 5.2M AT 3.1% CU AND 1.1G/T AU AT T5 TARGET

Bravo Mining Corp. has received assay results from the two drills hole at the T5 target and has intersected sulphide mineralization in drilling at the T11 electromagnetic target at its 100-per-cent-owned Luanga project, which includes the Luanga palladium plus platinum plus rhodium plus gold plus nickel deposit, in the Carajas mineral province, Brazil.

"Borehole EM (BHEM) is now progressing on all holes at EM target T5. This will better define the orientation of mineralization ahead of drill testing. Whilst it was anticipated from the lesser amounts of copper mineralization in DDH2405T003 that grade may not be as high as assay results from previous holes, this intersect extends the higher-grade copper-gold mineralization over a significant area. Target T5 therefore remains open along strike and depth, which is interpreted to be very promising," said Luis Azevedo, chairman and chief executive officer. "Drilling also continues to advance other targets within the portfolio of EM anomalies. At T11, drilling of BHEM anomalies has intersected multiple zones of sulphide mineralization, and while this is also very encouraging, we are still at early stage of these discoveries with a regular flow of exciting news expected in near future," he said.

• Hole DDH2405T003 at T5 target, located 50 metres west and along strike of previously reported high-grade hole DDH2405T002, intersected 5.2 m of semi-massive/breccia hosted copper sulphide mineralization grading 3.1 per cent copper and 1.1 grams per tonne gold.
• Copper-gold mineralization at T5 target remains open at depth and along strike.
• BHEM surveys at T5 is in progress, including holes DDH2405T003, 04, 05 and 06, which will position Bravo for the August drill program.
• At T11, drill hole DDH2411T002 intersected four significant sulphide-rich intervals within a broader alteration zone. Pyrrhotite greater than pentlandite chalcopyrite is present as patches/veins, locally massive to semi-massive textures. BHEM is in progress.

Exploration drilling update

Assay results have been received from diamond drill holes DDH2405T003 and DDH2405T005 at the T5 target, located one kilometre east of the Luanga platinum group metal deposit. Drill hole DDH2405T006 has also been completed and intersected strong alteration interpreted to be proximal to the mineralization (assays pending). BHEM was completed on the pilot hole (DDH2311T001) at HeliTEM target T11. BHEM anomalies defined from this drill hole indicated that the targets were deeper, below the drill hole. These refined targets were then tested by DDH2411T002, which intersected sulphide mineralization. Together, this drilling of the HeliTEM and BHEM anomalies comprises a total of 1,179 metres.

Bravo continues to conduct systematic first-pass drilling, coupled with BHEM, on the priority EM conductors identified by the HeliTEM survey. Although these modelled HeliTEM conductors have a lower degree of locational accuracy, they are sufficiently defined to position first-pass drilling proximal to the conductor's location. From there, BHEM provides a more precise location of EM anomalies for drill testing. Of the 17 priority EM anomalies identified in the HeliTEM survey (see press release dated Sept. 11, 2023), Bravo had narrowed this list to 11 high-priority conductors that warranted follow-up drilling of predominantly off-hole BHEM conductors. T5, T6, T16 and now T11 are four of these 11 HeliTEM targets.

T5 target

Drill hole DDH2405T003 intersected 5.2 m (grading 3.1 per cent Cu and 1.1 g/t Au) of breccia-hosted copper sulphide mineralization at the T5 target. Like hole DDH2405T002, located 50 m to the east, mineralization is interpreted to be consistent with typical copper/gold mineralization seen in the Carajas mineral province and unrelated to the Luanga platinum group metal plus gold plus nickel deposit.

DDH2405T006 (assays pending) has been completed downdip of (below) hole DH2405T002, intersecting significant hydrothermal alteration consistent with that expected proximal (close) to the mineralization. Drilling is paused while BHEM is completed on drill holes DDH2405T003, DDH2405T004, DDH2405T005 and DDH2405T006 to better establish the dip/plunge of mineralization before the next round of drilling.

DDH2405T005, located up dip of (above) DDH2405T002, intersected weathered mineralization in the oxidized zone, where mineralization is interpreted to be weathered away.

T5 mineralization remains open along strike and downdip. BHEM surveying is in progress.

T11 target

The T11 target is located proximal to the ultramafic footwall of the Central sector of the Luanga PGM+Au+Ni deposit. The pilot drill hole (DDH2311T001) targeting the HeliTEM anomaly was shown to be too shallow and was drilled updip of the EM conductors, which were subsequently better defined by BHEM to be deeper. DDH2411T002 targeted the centre of this group of 10 conductors at a more appropriate depth, intersecting four zones of mineralization within an approximately 190-metre-wide hydrothermal alteration zone.

At a 96-metre depth, drill hole DDH2411T002 intersected the ultramafic footwall of the Luanga deposit, intersecting an iron-calcium alteration system, which consists of magnetite, grunerite, hornblende, actinolite, biotite and almandine. This mineralogical assemblage is similar to other iron oxide copper/gold-style mineralized systems that occur within the Carajas mineral province, and is likely unrelated to the primary Luanga PGM deposit mineralization, which is at a stratigraphically higher level. BHEM will be completed on DDH2411T002 prior to commencing follow-up drilling.

Drill results status update

A total of 304 drill holes have been completed to date by Bravo, for 65,113 metres, including eight metallurgical holes (not subject to routine assaying). Results have been reported for 252 Bravo drill holes to date. Assay results for 44 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes). Bravo plans to extend the current EM drilling program from 3,000 m to 8,000 m, to continue drilling testing and follow-up drilling of EM anomalies.

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga project in the world-class Carajas mineral province of Brazil.

Bravo is the most active explorer in Carajas. The team, comprising local and international geologists, has a proven record of PGM, nickel and copper discoveries in the region. It has taken a past IOCG greenfield project from resource definition to development and production in Carajas.

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 work force, with excellent access and proximity to existing infrastructure, including road, rail and clean renewable hydro grid power. A fully financed 63,000-metre infill, stepout and exploration drilling and trenching program is well advanced for 2024. Bravo's current environmental, social and governance activities include planting more than 30,000 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, FAusIMM (fellow of Australasian Institute of Mining and Metallurgy), president of Bravo, who serves as the company's qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Mottram has verified the technical data and opinions contained in this news release.

Assay methodologies and quality assurance/quality control

Samples follow a chain of custody between collection, processing and delivery to the SGS Geosol laboratory in Parauapebas, state of Para, 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 in its analytical guides.

Quality assurance and quality control are maintained internally at the lab through rigorous use of internal certified reference materials, blanks and duplicates. An additional QA/QC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QA/QC 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 QA/QC sample are retested.

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