Junior to resume exploration in Southeast

Bravo Venture Group Inc. March 17 said it has acquired 100 percent interest in the Woewodski Island volcanic massive sulphide project in southeast Alaska following successful renegotiation of certain terms in an underlying agreement with vendors of the property.

Bravo said its ownership of the property is subject to a 3 percent net smelter royalty on all metals, of which 1 percent can be purchased for US$1million anytime prior to production and another 1 percent can be purchased anytime for US$1.5 million. The property would be subject to a total of 1 percent NSR, if both reductions are purchased. No further cash payments are due, but there is a work commitment of $250,000 in 2008, the company said.

The Vancouver, B.C.-based junior also reported results of the company's 2007 exploration program at Woewodski Island, which included detailed gravity and three-dimensional IP geophysical surveys and two core holes totaling 432.6 meters at the East Lake target. Both holes (WW07-034 and -035) contained more than 16-meter-thick downhole intervals of anomalous silver mineralization (greater than 1 part per million) and zinc (greater than 0.1 percent) with associated anomalous, but less continuous, barium and gold values.

Bravo geologists say this indicates that a long-lived and widespread plume of VMS-style mineralization may be present. Previous drilling at the site encountered mineralized boulders of massive sphalerite (hole EL04-01) and several horizons of semi-massive pyrite and fine grained black to grey argillite. Significantly, intervals of black argillite within mineralized horizons on the property are interpreted as equivalent to the "Mine Argillite," which hosts Hecla Mining Co.'s silver-rich Greens Creek deposit located 145 kilometers, or about 90 miles, to the north on Admiralty Island near Juneau.

Much of Bravo's 2007 exploration program focused on several gold prospects along the western and southern margins of Woewodski Island where 33 relatively short core holes were drilled for a total of 2,541 meters. Drilling targeted gold-quartz veins, which occur within broad, up to 10-meters thick, strongly carbonate-altered shears. Quartz veins were intersected in many of these holes. Higher grade results include: 1.13 meters grading 4.0 grams per metric ton gold, and 0.73 meters grading 7.2 g/t gold; however, the high gold grades obtained in surface samples were not obtained in drill core. No further work is planned on these veins at this time.

Bravo said most of the exploration planned for 2008 will consist of shallow "Winkie" core holes that will provide data for metal zoning and basin reconstruction within the "Mine Argillite" at Woewodski Island.

The VMS Woewodski Island Project includes 501 federal claims and three state claims covering 3,260 hectares, or about 1,349 acres, in southeast Alaska. This "deep-water, tide-water" accessible property is located about 30 kilometers south-southwest of Petersburg with multiple targets hosted within the same volcanic-sedimentary rocks that host Green's Creek and the Windy Craggy VMS deposit in British Columbia.

Bravo also has exploration properties in Nevada and British Columbia. In February, the company reported assay results that confirmed high-grade silver mineralization at the Homestake Silver zone, which is at its Homestake Ridge project in the "Eskay Creek" region of northwestern British Columbia.