Dr. Paul West-Sells reports

BRAVADA GOLD FILES PEA FOR WIND MOUNTAIN GOLD-SILVER PROJECT

Bravada Gold Corp. has filed on SEDAR+ the technical report for the preliminary economic assessment (PEA), previously announced on Aug. 31, 2026, and completed by Respec Company LLC and Woods Process Services LLC for its 100-per-cent-owned Wind Mountain gold-silver project in Nevada, United States.

The report, entitled "2026 Preliminary Economic Assessment - Wind Mountain Gold-Silver Project, Nevada" was independently prepared by Respec and Woods process in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and has an effective date of Oct. 15, 2026. The report is available under the company's profile at SEDAR+ and on the company's website.

PEA highlights -- Wind Mountain gold-silver project (for full details, see company news release dated Aug. 31, 2026)

• Low-capital, brownfield heap-leach development at a past-producing site with existing pits, roads and power;
• After-tax NPV (net present value) (5 per cent):
  • $415-million (U.S.) ($593-million) at $3,600 (U.S.)/ounce gold and $48 (U.S.)/oz silver (base case);
  • $681-million (U.S.) ($973-million) at $4,500 (U.S.)/oz gold and $70 (U.S.)/oz silver (upside case).
• After-tax IRR (internal rate of return):
  • 60 per cent (base case);
  • 86 per cent (upside case).
• Initial capital cost: $98.1-million (U.S.);
• Average annual production: 44,400 oz gold equivalent per year over an 11.2-year mine life;
• All-in sustaining cost (AISC): $1,653 (U.S.)/oz, with an exceptionally low strip ratio of 0.20:1;
• After-tax payback period: 2.0 years (base case).

The Wind Mountain PEA base case assumes a gold price of $3,600 (U.S.)/troy ounce, a silver price of $48 (U.S.)/oz and a Canadian dollar/U.S. dollar exchange rate of 0.70.

The PEA and summary above is preliminary in nature and includes the use of inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The economic outcomes presented above are highly sensitive to changes in metal price and exchange rate assumptions and to future capital and operating cost estimates.

Qualified persons

The independent qualified persons, as defined in National Instrument 43-101, for the PEA are Michael S. Lindholm, CPG, and Kyle Murphy, PE, of Respec, and Jeffrey Woods, SME QP, of Woods Process.

Joseph Anthony Kizis Jr. (AIPG CPG-11513), vice-president of exploration and a director of Bravada Gold, is the qualified person responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.

About Bravada Gold Corp.

Bravada Gold is a Nevada-focused gold development company advancing its 100-per-cent-owned Wind Mountain gold-silver project toward production, supported by a portfolio of exploration and royalty properties across Nevada's premier gold trends.

Wind Mountain offers a rare brownfield development opportunity, having previously operated as a permitted heap-leach gold-silver mine. Existing pits, haul roads, waste dumps, power infrastructure and road access provide a significant head start, reducing the capital, permitting and execution risks typically associated with developing a new mine.

The Wind Mountain 2026 PEA delivered an after-tax NPV (5 per cent) of $415-million (U.S.) ($593-million), and a 60-per-cent IRR, based on $3,600 (U.S.)/oz gold. With a low strip ratio, conventional heap-leach processing and established infrastructure, the project offers a compelling pathway toward near-term production in mining-friendly Nevada.

We seek Safe Harbor.