Mr. Joseph Kizis reports

BRAVADA CLOSES PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT

Bravada Gold Corp. has closed the second tranche of its previously announced non-brokered private placement by issuing 14,248,667 units for proceeds of $427,460 and, along with the first tranche closing, has now issued a final total of 35,954,000 units at a price of three cents per unit for gross proceeds of $1,078,620. Each unit consists of one common share and one share purchase warrant, exercisable to purchase one additional common share at a price of five cents for three years.

Securities issued pursuant to the second tranche closing include common shares, share purchase warrants and non-transferable finders' warrants issued as finders' fees, all of which carry a legend restricting trading of the securities until Oct. 21, 2025. The company paid finders' fees in the offering, comprising an aggregate $20,434.80 cash and 681,160 finders' warrants, with each finder's warrant exercisable to purchase one common share for a period of three years at an exercise price of five cents per share. The offering and payment of finders' fees are subject to TSX Venture Exchange acceptance.

Net proceeds from the offering will be used to conduct a prefeasibility study (PFS) of the Wind Mountain gold/silver deposit in northwestern Nevada (approximately 65 per cent). Net proceeds will also cover annual federal claimholding fees (15 per cent) and general working capital (approximately 20 per cetn, with 14 per cent of general working capital payable to non-arm's-length parties). No amounts are proposed to be spent on investor relations activities.

Bravada's 2022 preliminary economic assessment (PEA) demonstrated favourable economics for an open-pit mining operation utilizing a limited heap leach pad for a portion of the pit-delineated indicated resource as a phase I operation. Subsequent studies identified a larger phase II heap leach pad site for the remainder of the indicated resource and potentially additional near-surface, oxide gold mineralization that, with further delineation drilling, could be added to the phase II pad to extend mine life.

President and director Joseph Anthony Kizis Jr. commented: "The company believes a dramatic increase in precious metal prices and a more favourable permitting environment in the U.S. justify advancing Wind Mountain to the PFS stage. In-pit indicated resource that is shown to be economic via a PFS will be reclassified as more valuable probable reserves, which should add value to the company. A PFS-level mine plan and economic study are required to begin mine permitting in Nevada.

"With a still-valid geologic model of gold and silver mineralization from the 2022 PEA and two identified heap leach pad sites, initial engineering studies are expected to begin by the end of June with the initial focus of redesigning an open-pit utilizing higher metal prices and updated estimated costs in order to calculate an updated in-pit resource."

About Bravada Gold Corp.

Bravada is a long-established exploration and development company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Utilizing a modified joint venture business model, Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to finance later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA study at Wind Mountain and the company has significant upside potential from possible new discoveries at its exploration properties.

Since 2005, the company has signed 33 earn-in joint-venture agreements for its properties with 20 publicly traded companies, as well as a similar number of property acquisition agreements with private individuals. Bravada currently has eight projects in its portfolio, consisting of 756 claims for approximately 5,600 hectares in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed.

Several videos are available on the company's website, describing Bravada's major properties and answering investor commonly asked questions.

Mr. Kizis Jr. (AIPG CPG-11513) is the qualified person responsible for reviewing and preparing the technical data presented in this news release, and has approved its disclosure.

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