Mr. Alex Penha reports

BRAVO ANNOUNCES COMPLETION OF PRIVATE PLACEMENT FOR C$5.27 MILLION

Bravo Mining Corp. has closed the previously announced private placement offering of common shares of the company. Pursuant to the concurrent private placement, the company has issued 1,504,992 common shares at a price of $3.50 per common share for gross proceeds of $5,267,472. Along with the completion of the public offering, which included the full exercise of the agents' (as defined below) overallotment option, which was previously announced in the company's news release dated June 8, 2023, the aggregate gross proceeds of the public offering and concurrent private placement together are $25,034,306.50. Following the public offering and the concurrent private placement, the company's issued and outstanding common shares total 108,152,660.

The public offering and concurrent private placement were co-led by Canaccord Genuity Corp., National Bank Financial Inc. and BMO Capital Markets on behalf of a syndicate that included Cormark Securities Inc. and Raymond James Ltd. Cozen O'Connor LLP acted as legal counsel to Bravo, and Cassels Brock & Blackwell LLP acted as legal counsel to the agents.

"I am pleased with the outcome of our public offering and concurrent private placement, and on behalf of Bravo's team, I would like to thank all parties involved as well as the support received from both existing and new shareholders," said Luis Azevedo, chairman and chief executive officer of Bravo. "The funds were raised at a premium of 100 per cent from the IPO price in July, 2022, and with limited dilution to existing shareholders, which underscores the recognition of the steady progress thus far we have made in advancing and unlocking the potential of our Luanga project."

In connection with the concurrent private placement, the company has paid the agents a cash commission in the aggregate amount of $181,693 equal to 5.0 per cent of the gross proceeds of the concurrent private placement, other than in respect of sales to certain purchasers on the president's list, in which case the cash commission was reduced to 2.5 per cent.

The common shares issued pursuant to the concurrent private placement are subject to resale restrictions under applicable Canadian securities legislation until Oct. 16, 2023.

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 (platinum group metal plus gold plus nickel) 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, engagement with local communities, and ensuring protection of the environment during its exploration activities.