Bravo Retains Consulting Mining Engineer for Homestake Ridge Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/02/11 -- Bravo Gold Corp. (TSX VENTURE: BVG)(FRANKFURT: B6I) ('Bravo') reports today that it has retained Fred Sveinson, P.Eng. in the role of Consulting Mining Engineer for the Homestake Ridge project. Mr. Sveinson brings extensive experience in mine development, financing and operations to complement Bravo's geological and corporate development teams. He is a professional mining engineer with more than 40 years experience in all stages of mine development at operations ranging in size from 100 to 2,000 tonnes per day in Canada, the US, South America and Africa.
His experience includes permitting and regulatory governmental dealing and involvement with First Nations negotiations in British Columbia as well as finance negotiations for exploration and mine development on a national and international level.
His senior positions have included General Manager of Echo Bay's Lupin and Sunnyside operations, and Vice-President of Tonto Mining and Dynatec Mining. Most recently, from 2004 to 2010, he was President and CEO of Merit Mining Corp., a Vancouver-based company with two advanced-stage mining projects, including underground operations and a mill at Greenwood, BC. In 2005, as President and CEO of Gold City Industries Ltd., he was instrumental in acquiring the Bissett gold mining assets in Manitoba and merging the JV partners into San Gold Corporation, which now has a market capitalization of over one billion dollars.
President Joe Kizis commented, 'I am pleased to add Mr. Sveinson's expertise to our Homestage Ridge project team as it develops the project towards the potential high-grade underground mine contemplated in Scott Wilson Roscoe Postle's 2010 report.'
About Bravo
Bravo Gold Corp. has a 100 percent interest in the Homestake Ridge project located in a prolific mineral belt in northwestern British Columbia. The project is being advanced as a potential high-grade underground mining operation with a current NI43-101 compliant Indicated Resource, at a 3.0 g/t AuEq. cut-off, of 191,000 oz gold and 1,350,000 oz silver plus an Inferred Resource of 348,000 oz gold and 7,990,000 oz silver(1). Two deposits have been indentified to date and multiple exploration targets remain to be tested on the large, 2585 hectare property. Bravo also holds a 17 percent interest in Bravada Gold Corp. (TSX VENTURE: BVA), which is exploring 22 projects in Nevada.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Homestake Ridge project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors
Joseph A. Kizis Jr., Director, President, Bravo Gold Corp.
1. The current estimate, as reported in NR-07-10, was prepared by Scott
Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) and carried out
using a block model constrained by 3D wireframes of the mineralized
zones. The block model comprised an array of blocks measuring 5 m x 5 m
x 5 m, with grades for Au, Ag, Cu, Pb, and Zn interpolated using Inverse
Distance to the Third Power (ID3) weighting. At a 3.0g/t AuEq. cut-
off, the model identified an indicated resource of 888,000 tonnes
averaging 6.7g/t Au, 47.2g/t Ag and 0.15% Cu and an inferred resource of
2,340,000 tonnes averaging 4.6g/t Au, 105.5g/t Ag and 0.13% Cu.
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. Bravo Gold Corp. 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.
We seek safe harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
Contacts:
Bravo Gold Corp.
Liana Shahinian
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
www.bravogoldcorp.com