Bravada Announces Increase to Previously-Announced Non-Brokered Private Placement

Bravada Gold Corporation (TSXV: BVA,OTC:BGAVF) (FSE: BRTN) ("Bravada" or the "Company") reported that it is increasing its previously-announced private placement and now plans to issue up to 40,000,000 units ("Units") in a non-brokered private placement at a price of $0.04 per Unit for gross proceeds of $1,600,000 (the "Offering"). Each Unit consists of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share at a price of $0.05 for 3 years. The Company will make a provision for an over-allotment option (Greenshoe) to allow a purchase of up to 10% additional Units beyond the number of Units in this private placement.

Net proceeds from the private placement will be used to conduct a Pre-feasibility Study ("PFS") of the Wind Mountain gold/silver deposit in NW Nevada (approximately 72%). Net proceeds will also cover land-holding fees (11%) and general working capital (approximately 17%, with 14% of general working capital payable to non-arm's length parties). No amounts are proposed to be spent on investor relations activities.

The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities referred to in this news release have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Bravada

Bravada is a long-established exploration and development company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Utilizing a modified joint-venture business model, Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA study conducted in 2022 on a Phase I portion of the Wind Mountain deposit, and additional Phases are being evaluated for the project as part of an ongoing Pre-Feasibility Assessment. In addition, the Company has significant upside potential from possible new discoveries at its other exploration properties.

Since 2005, the Company has signed 33 earn-in joint-venture agreements for its properties with 20 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has eight projects in its portfolio, consisting of 756 claims for approximately 5,600 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed.

Several videos are available on the Company's website that describe Bravada's major properties, answering investors commonly asked questions. Simply click on this link https://bravadagold.com/projects/project-videos/ .

Joseph Anthony Kizis, Jr. (AIPG CPG-11513), the President and a Director of Bravada Gold Corporation, is the qualified person responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.

On behalf of the Board of Directors

Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 in this news release include closing the Offering and completion of the PFS. 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. Bravada Gold Corporation 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.

This news release is not intended for distribution to United States newswire services or dissemination in the United States

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