Bravo Announces Completion of Private Placement for C$5.27 Million

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VANCOUVER, June 15, 2023 - Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF) ("Bravo" or the "Company") announces that it has closed the previously announced private placement offering (the "Concurrent Private Placement") of common shares of the Company (the "Common Shares"). Pursuant to the Concurrent Private Placement, the Company has issued 1,504,992 Common Shares at a price of C$3.50 per Common Share for gross proceeds of C$5,267,472. Along with the completion of the public offering, which included the full exercise of the Agents' (as defined below) over-allotment option (the "Public Offering"), which was previously announced in the Company's news release dated June 8, 2023, the aggregate gross proceeds of the Public Offering and Concurrent Private Placement together are C$25,034,306.50. Following the Public Offering and the Concurrent Private Placement, the Company's issued and outstanding Common Shares total 108,152,660.

The Public Offering and Concurrent Private Placement were co-led by Canaccord Genuity Corp., National Bank Financial Inc. and BMO Capital Markets on behalf of a syndicate that included Cormark Securities Inc. and Raymond James Ltd. (collectively, the "Agents"). Cozen O'Connor LLP acted as legal counsel to Bravo and Cassels Brock & Blackwell LLP acted as legal counsel to the Agents.

"I am pleased with the outcome of our public offering and concurrent private placement and on behalf of Bravo's team, I would like to thank all parties involved as well as the support received from both existing and new shareholders", said Luis Azevedo, Chairman and CEO of Bravo. "The funds were raised at a premium of 100% from the IPO price in July 2022 and with limited dilution to existing shareholders, which underscores the recognition of the steady progress thus far we have made in advancing and unlocking the potential of our Luanga Project".

In connection with the Concurrent Private Placement, the Company has paid the Agents a cash commission in the aggregate amount of C$181,693 equal to 5.0% of the gross proceeds of the Concurrent Private Placement, other than in respect of sales to certain purchasers on the president's list in which case the cash commission was reduced to 2.5%.

The Common Shares issued pursuant to the Concurrent Private Placement are subject to resale restrictions under applicable Canadian securities legislation until October 16, 2023.

The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.

The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo's current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, engagement with local communities, and ensuring protection of the environment during its exploration activities.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this Press release.

SOURCE Bravo Mining Corp.