Mr. Luis Azevedo reports

BRAVO TRENCHES OVER 140M OF CONTINUOUS OXIDE PGM+AU AT LUANGA; RECEIVES POSITIVE RESULTS FROM ASSAYING METALLURGICAL DRILL CORE

Bravo Mining Corp. has received assay results from five trenches and four previously unsampled large diameter (ZW) historical metallurgical drill holes, all located in the southwest sector of its 100-per-cent-owned Luanga palladium plus platinum plus rhodium plus gold plus nickel project, located in the Carajas mineral province, state of Para, Brazil.

"Initial trenching shows potential for increased thickness and supergene enrichment, warranting an expanded trenching program at Luanga," said Luis Azevedo, chairman and chief executive officer of Bravo. "In addition, the receipt of assay results from the large-diameter metallurgical drill core that had not been sampled by the previous owner has provided valuable localized grade and geological information and, more importantly, tonnes of mineralized material, both oxide and fresh rock, that is immediately available for phase 2 metallurgical program and/or later pilot-scale test work."

Highlights include:

• Trenching trialled in the Southwest sector successfully defined thicker zones of mineralization at surface in comparison with nearest neighbour drill holes below the trench, while assay results indicate grade enrichment in most cases.
• Historical drill core received at site includes large-diameter ZW metallurgical core (165 millimetres) drilled in the Southwest sector that had not been previously sampled. Assay results from channel sampling of this core are as good or better than nearby drill holes, supporting Bravo's interpretation of geology and mineralization. The core is now ready for use in the phase 2 metallurgical program.
• The combinations of trenching, assay results from the ZW metallurgical core resampling and relogging have improved interpreted mineralization in these areas.

Luanga trenching program

A trial program testing the effectiveness of trenching commenced at Luanga's Southwest sector in 2022. Trenching across the strike of the outcrop/subcrop aimed to accurately map mineralization at surface to enable better interpretation for the planned mineral resource estimate (MRE), and to reduce the distance/spacing between assay data points in preparation for later MRE classification (indicated/inferred). Trenching also provides detailed outcrop mapping, supporting interpretation near surface at Luanga.

The trenching program has also highlighted the increase in mineralized thickness intersected in shallow drill holes nearby. Assay results from trenching clearly show that mineralization in the saprolite zone (above the base of oxidation) increases in thickness, common in tropical weathering profiles. In addition, the PGM grades in the trench samples compare favourably with the high-grade intersections in nearby down-dip drill holes. This further suggests supergene enrichment in the saprolite zone.

Luanga metallurgical drill core

Historical ZW core (165 mm diameter core from a 192 mm diameter drill hole) has been received by Bravo for four holes in the Southwest sector. This core was initially intended for bulk sampling metallurgical test work by the previous owner but was not previously sampled. Bravo has relogged the core, located and verified the locations of these drill holes, and received assay results from its channel sampling of the core. Sampling procedures followed the same methodology (cutting core to both regolith and lithological contacts) and quality assurance/quality control procedures used on the company's own drill core. These historical ZW holes were drilled to cover a range of mineralization locations across the Southwest sector. The core is to be used in the phase 2 metallurgical program.

Whereas the saprolite zone is relatively thin (ranging from less than two metres on the ridge line, to 25 m away from the ridge), given Luanga's 8.1 kilometres of strike, the presence of similar saprolite layer plus/minus secondary enrichment could result in the definition of a significant volume of saprolite zone/oxide mineralization in a future MRE.

Trenching, performed to a high quality, replaces the requirement for the many shallow drill holes that would be needed to achieve the same result for the coming phase 1 MRE. The same sampling, assay laboratory procedures and QA/QC protocols as applied to drill core sampling are applied to trench samples.

Given the encouraging results from trenching to date, trenching is planned to continue in 2023 along the entire 8.1 km strike length of the Luanga deposit.

Luanga drilling status

A total of 175 drill holes (40 in 2023) have been completed by Bravo to date, for 31,510 metres, including all eight planned twin holes and all eight metallurgical holes (not subject to routine assaying). These eight metallurgical holes are in addition to the four ZW historical holes received from Vale.

The phase 2 drilling program is currently in progress.

Results have been reported for 119 Bravo drill holes to date. Excluding the metallurgical holes, results for 48 Bravo drill holes are currently outstanding.

About Bravo Mining Corp.

Bravo is a Canada- and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM plus Au plus Ni project in the world-class Carajas 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 deforested for agricultural grazing land. Bravo's current environmental, social and governance activities include 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, FAusIMM (fellow Australia Institute of Mining and Metallurgy), president of Bravo Mining, 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.

Schedule 2: assay methodologies and QA/QC

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