1100-1199 West Hastings Street, Vancouver, BC, V6E 3T5
“A Manex Resource Group Company”
February 4, 2010 BVG-TSX.V Frankfurt: B6I
NR-04-10
Bravo Acquires Nevada Project in Cortez district from Agnico-Eagle
Bravo Venture Group Inc.(BVG - TSX Venture) (the "Company" or "Bravo") reports today that its wholly owned US subsidiary, Bravo Alaska, Inc., has signed an agreement with Agnico-Eagle (USA) Limited(“Agnico”), a subsidiary of Agnico-Eagle Mines Limited, to acquire theirNSR property, located in the western portion of the Cortez Mining district.
“The Cortez district hosts a major percentage of the gold discovered to date along the prolific Battle Mountain-Eureka Gold trend in central Nevada, and we are pleased to add such a significant property position within this important district to our existing portfolio of twelve properties along the trend. We plan to use this property position as a starting point to further expand our involvement in this exciting district,” commented President Joe Kizis. The property consists of 161 lode mining claims(approximately 1,300hectares) as two irregular blocks, with adjacent ground generally being either private or claims held by others.
Data provided by Agnico includes soil and rock geochemistry,geophysical surveys, historic drill data, and geology and geochemistry forfivereverse-circulation holes drilled by Agnico. Limited surface rock-chip sampling by Bravo’s consultants confirms that anomalous gold exists up to +1g/t, with typical Carlin-style pathfinder geochemistry. Historic drilling indicates that several areas contain accumulations of strongly anomalous gold; however, historic drilling cannot be confirmed to have been conducted to NI-43-101 standards and cannot be relied upon to define any possible resource.
Mineralization and alteration occur in Paleozoic-age ‘Upper Plate’ rocks and Eocene intrusions, but more-attractive ‘Lower Plate’ host-rocks have not been encountered yet at the property. In addition, most of the shallow, historic holes that were intended to test near-surface gold mineralization were drilled vertically, even though mineralization in ‘Upper Plate’ rocks is often predominately hosted by vertical structures, which may have been missed by those holes. Compilation of existing data, 3D geologic modeling, and additional geophysical surveys are expected to identify several attractive drill targets.
Bravo can earn 100% interest bypaying Agnico 300,000 common sharesof the Companyupon signing and exchange approval and by spending US$2.0 million over a maximum of six years. The agreement includes the immediate transfer of ownership of a logistical base in nearby Crescent valley, which includes a work-shop and a double-wide trailer for personnel. The base will be used for this and nearby Company properties. After Bravo completes earn-in, Agnicohas 60 days to either accept a 2% NSR, of which 1% NSR can be purchased for $1.0 million, or elect to earn back 60% interest by spending $4.0 million over a four-year period, with a minimum expenditure of $1.0 million annually, and producing a bankable-quality feasibility document. Agnico can earn a further 10%, for a total of 70%, by loaning or arranging for financing of the Company’s share of capital required for mine development and construction cost, at Bravo’s option.
Agnico-Eagle Mines Limited is a gold producer with mining operations located in Canada, Finland, and Mexico and exploration activities in Canada, Finland, Mexico and the United States.
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About Bravo Venture Group Inc.
Bravo Venture Group Inc. is focused on exploring its precious and base metal-rich Homestake Ridge project in British Columbia, a gold-rich epithermal/VMS-related system within Eskay Creek/Silbak-Premier stratigraphy. Pursuant to the recently announced “Plan of Arrangement”, Bravada Gold Corp. will focus on exploring Bravo’s extensive Carlin-type gold holdings, strategically located within the Battle Mountain/Eureka “Cortez” gold trend in Nevada.
Joseph Anthony Kizis, Jr. (P.Geo.) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors
“Joseph A. Kizis, Jr.”
Joseph A. Kizis Jr., Director, President,
Bravo Venture Group Inc.
For further information, please visit the Company’s website at bravoventuregroup.com or contact Jeff Stuartat either 1-888-456-1112 or 604-684-9384 or by email at .
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. We seek safe harbor.