Vancouver, British Columbia - Bravada Gold Corporation (TSXV: BVA) (the 'Company' or 'Bravada') reports the results of an updated, independent Resource and Phase I Preliminary Economic Assessment (PEA) for its Wind Mountain Gold/Silver Property in Washoe County, Nevada.
Economics have improved significantly compared to the Company's 2012 study due to utilizing a near-mine, heap-leach pad site for a portion of the Pit-constrained resource and higher grades for early mining, which were predicted and then verified by drilling during 2021. To add additional mine life, a Phase II pad site has been identified due north of the Phase I site, and although somewhat farther from the currently identified Pit-constrained resource, it is located very close to outcropping mineralization at the North End target area, which has only been tested with minor drilling. Other potential additions to mine life that the Phase I PEA did not consider include mineralization at the South End deposit and historic 'waste rock piles' where the Company has identified potentially recoverable gold and silver.
President Joe Kizis commented, 'We have taken a phased approach to development at Wind Mountain. Phase I takes advantage of a pad space adjacent to the modelled mining operation. The increased grade verified in the Breeze pit area by drilling during 2021 provides increased cash flow during the early years of production, providing the benefit that cash flow should fund sustaining capital required in year 3. The 2022 Pit-constrained resource would be depleted by about 62% during Phase I and a probable Phase II pad site has been identified north of the Phase I pad. Capital costs to activate Phase II should be reasonable and potentially funded by cash flow. There are several fault blocks of outcropping mineralization based on surface sampling uphill from the Phase II pad that have not been tested by drilling except for results from several encouraging shallow drill holes at North Hill. Although the North Hill targets are not expected to contain a large number of ounces, they would be very inexpensive to mine due to being at or near surface and to transport to an adjacent Phase II pad.
We focused on the Phase I area first because it contains better-than-average grades in the early years of the mine plan and has been drill tested to mostly oxidized Indicated categories, so it could be potentially quickly upgraded to Reserve Category with a Pre-feasibility study. Operational advantages for development of Wind Mountain include its location in a sparsely populated region of northwestern Nevada (less than a 2-hour drive from Reno), county-maintained roads, power lines to the property, location six miles from a geothermal power station, and no known environmental or archaeological impediments.'
RESPEC, Woods Process Services, and Debra Struhsacker, Bravada's Environmental Permitting and Government Relations Consultant, compiled the technical report. Thomas Dyer, P.E. is a Principal Engineer for RESPEC and is responsible for sections of the technical report involving mine designs and the economic evaluation; Michael Lindholm, C.P.G., is a Principal Geologist for RESPEC, and is responsible for the sections involving the Mineral Resource estimate; Jeffery Woods, SME MMSA QP, is an independent Principal Consulting Metallurgist with Woods Process Services and is responsible for the sections on process 13, 17 and 21. The PEA relies on Debra Struhsacker as an expert in permitting. Thomas Dyer, Michael Lindholm and Jeffery Woods are the Qualified Persons of the technical report for the purpose of Canadian NI 43-101, Standards of Disclosure for Economic Analyses of Mineral Projects.
A Technical Report covering both the Phase I PEA and the updated Pit-constrained Resource will be filed with SEDAR within 45 days, as per NI-43-101 regulations.
About Wind Mountain
The past-producing Wind Mountain gold/silver project is located approximately 160km northeast of Reno, Nevada in a sparsely populated region with excellent logistics, including county-maintained road access and a power line to the property. AMAX Gold/Kinross Gold recovered nearly 300,000 ounces of gold and over 1,700,000 ounces of silver between 1989 and 1999 from two small open pits and a heap-leach operation (reported data based on Kinross Gold files). Rio Fortuna Exploration (U.S.) Inc., a wholly owned US subsidiary of Bravada Gold Corporation, acquired 100% of the property through an earn-in agreement with Agnico-Eagle (USA) Limited, a subsidiary of Agnico-Eagle Mines Limited, which retains a 2% NSR royalty interest, of which 1% may be purchased for $1,000,000 at any time prior to commencement of production (purchase to reduce royalty is assumed in PEA calculations). The resource and PEA for Wind Mountain were updated in April 2012 and further updated in November 2022.
About Bravada
Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the World. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.
Since 2005, the Company entered into 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in the Battle Mountain/Eureka and Walker Lane Trends, 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 that describe Bravada's major properties, responding to investor's commonly asked questions.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513) is the qualified person for the Company and is responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.
Contact:
Joseph A. Kizis, Jr.
Director
President, Bravada Gold Corporation
E: bravadagold.com
T: 604.684.9384
T: 775.746.3780
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada Gold Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
BRAVADA GOLD CORPORATION 
