Bravada Gold Corporation has received approval for an amendment to its drilling permit, which was submitted in late September 2021. The extensive delay is believed to be related to COVID-19 staffing issues. After posting a small increase in bond, five new drill sites will allow deeper tests of the vein system that was discovered in Fourth Quarter 2020 by drilling beneath mine waste and other overburden at the Feeder Target, in which hole WM20-102 intersected 1.5 meters of 269.0g/t Ag and 0.404g/t Au within a thicker interval of banded quartz veining together with anomalous gold and silver.

Four reverse-circulation holes drilled in 2021 to further test this target extended the strike length of banded quartz veining to +300m beneath overburden but failed to test the vein system deeper than the WM20-102 high-grade silver intercept due to unexpected shallowing of 2021 drill holes. The new sites will allow a better drill orientation designed to intersect the vein zone at a deeper elevation. The Company's 2021 Resource Upgrade drilling program demonstrated that higher grades exist in certain horizons predicted by 3D model, providing confidence to better model and expand these higher-grade zones during planned 2022 update to the 2012 Resource and PEA.

A portion of the resource containing the highest grades is categorized as Indicated Resource, which is acceptable for Pre-feasibility Studies that could upgrade a portion of the Resource to the Probable Reserve category, and which may be developed near-term into Phase I, or Starter, open-pit/heap-leach mining operation. Features which will contribute to a potentially attractive Phase I operation include: very low strip ratio, higher grades than predicted by the 2012 PEA, excellent logistics and snow conditions, sparse and supportive local population, lack of sage-grouse habitat, potential access to nearby "green" geothermal energy for operations, and potential post-mining "green" solar and wind energy usage. A resource update is now expected by late Second Quarter or early Third Quarter 2022.

The Wind Mountain Property is an historic past-producing, bulk-tonnage gold-silver mine located in northwestern Nevada approximately 160km northeast of Reno in a sparsely populated region with excellent logistics, including County-maintained road access and a power line to the property. An independent resource estimate and Preliminary Economic Evaluation for Wind Mountain commissioned by Bravada in 2012 reported: 570,000 ounces of gold and 14.7 million ounces of silver in the Indicated category, and 354,000 ounces of gold and 10.1 million ounces of silver in the Inferred category.