Bravo Mining Corp. announced its plans for the advancement of its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project ("Luanga" or "Luanga PGM+Au+Ni Project"), located in the Carajás Mineral Province, state of Pará, Brazil. During 2022-23, Bravo drilled 251 holes for 54,407 metre with the holes aimed at increasing confidence levels and expanding the mineral resources.

Combining the drillholes executed in 2023 with those from 2022 and historical data, Bravo's drilling inventory concluded 2023 with 104,242 metres from 503 drillholes, of which 407 drillholes for 82,082 metres were used in the mineral resource estimate. Since the cut-off date for the MRE in October 2023, Bravo has completed an additional 39 drill holes for 10,201m. The Phase 3 drill program continues with the objective of upgrading portions of the MRE not already in the indicated category and expanding the MRE at depth.

Mineralization has now been defined to a depth of ~450m in some areas, compared to MRE's 200m average depth. To achieve this objective, Bravo has planned approximately 16,000m of additional drilling in 89 holes, with most of the planned drilling concentrated in the Central and North Sectors. An updated MRE is expected to be reported in the second half of 2024, with a total drilling inventory of approximately 129,500m expected to be used in the calculation of the updated MRE.

In parallel with the proposed drill program, Bravo plans to continue its successful trenching program along the entire 8.1km strike length of the Luanga deposit to fully define the extent of the oxide mineralization, since results to date have shown a much broader development of oxide hosted mineralization, along with significant supergene enrichment. 11,000m of trenching has been planned for the first half of 2024, in addition to the 1,580m used in the current MRE. Drilling testing of EM Anomalies: Bravo plans to systematically evaluate the nickel sulphide potential at Luanga, using geophysical surveys completed in 2023, as a targeting tool.

These surveys included airborne and ground electromagnetics airborne and ground magnetics and ground microgravity, from which drilling targets have been prioritized. A total of 3,000m of drilling has been allocated to follow up the identified anomalies, complemented by down hole electromagnetic (DHEM) surveys. Bravo has completed extensive metallurgical testing of the sulphide and oxide mineralization that supported the MRE's reasonable prospects for eventual economic extraction.

Additional test work continues to optimize the recoveries and evaluate downstream processing options toward detailed characterization, flow-sheet design, and optimization. In parallel, tailings design parameters and utilization (carbon capture) will also be advanced to support potential requirements for permitting and enviro-economic considerations and project studies.