Bravo Announces Completion of Public Offering for C$20 Million

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, June 8, 2023 /CNW/ - Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF) ("Bravo" or the "Company") announces that it has closed the previously announced public offering (the "Offering") of common shares of the Company (the "Common Shares"). Pursuant to the Offering, the Company has issued 5,647,667 Common Shares at a price of C$3.50 per Common Share for gross proceeds of C$19,766,834.50, which includes the exercise in full of the over-allotment option granted to the Agents (as defined below). The Offering was 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").

In connection with the Offering, the Company has paid the Agents a cash commission in the aggregate amount of $919,584.23 equal to 5.0% of the gross proceeds of the Offering, 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 Offering was made by way of a prospectus supplement dated June 1, 2023 to the Company's existing Canadian base shelf prospectus dated May 16, 2023, in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and in certain other jurisdictions outside of Canada and the United States.

The Common Shares have not been and will not be registered under 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.

About Bravo Mining Corp.

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.

For further information about Bravo, please visit www.bravomining.com.

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.

Alex Penha, EVP Corporate Development, [email protected]