Amended BLM Permit Approval Received For The Wind Mountain Project

VANCOUVER - 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 Q4 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.

President, Joe Kizis, said, "The banding seen in drill chips indicates that several stages of sealing and breakage occurred within the vein zone, which is important for developing high grades in low-sulfidation deposits. Silver is often enriched in the upper portions of these systems because gold typically is deposited preferentially deeper. Enriched silver to gold ratios returned from our recent drilling, along with observations of relatively low-temperature quartz vein mineralogy, indicate that our current drilling only tested shallow portions of the vein zone; therefore, we expect that major gold enrichment should lie at a deeper elevation. The upper portion of the hole planned from Site G will also test a possible shallow extension of disseminated resource.

Our theory that this vein zone should contain better gold grades than seen in the disseminated portion of the deposit is based upon two reasons; several low-sulfidation, disseminated gold deposits like Wind Mountain contain very high-grade gold in upwelling/feeder veins, and third-party research in 2014 demonstrated that even in disseminated portions of the Wind Deposit, tiny fractures contain very high concentrations of gold, silver, and related metals.

Our interpretation is that the ore-forming hydrothermal fluids carried high concentrations of gold and related elements but was poorly constrained in permeable and highly fractured sediments that were present at the upper levels of the system, resulting in wide dispersion of gold fluids with diluted metal grades. The Feeder target is a very attractive setting because gold-bearing fluids would have been concentrated into a major fault/vein zone that juxtaposed impermeable basement rocks on the southeast and variably permeable sediments and impermeable volcanic rocks on the northwest. Further concentration of precious metals to higher grades due to repeated sealing and breaking is indicated by banding in the veins."