Bravo Venture updates Woewodski program

Bravo Venture Group Inc. has acquired 100% interest in the Woewodski Island VMS project in southeast Alaska following successful re-negotiation of certain terms in an underlying agreement with the vendors of the property. The company also reported results of the company’s 2007 exploration program.

Bravo’s ownership is subject to a 3% NSR royalty on all metals, of which 1% can be purchased for US$1MM any time prior to production and another 1% can be purchased at any time for US$1.5MM. The property would be subject to a total of 1% NSR if both reductions are purchased. No further cash payments are due, but there is a work commitment of US$250,000 in 2008.

The company reported that it completed detailed gravity and 3D IP geophysical surveys and two core holes totaling 432.6 metres at the East Lake target, where previous drilling encountered mineralized boulders of massive sphalerite (hole EL04-01) and several horizons of semi-massive pyrite and fine grained black to grey argillite. Both holes (WW07-034 and -035) contained +16m thick downhole intervals of anomalous Ag (greater than 1ppm) and Zn (greater than 0.1%) with associated anomalous, but less continuous, Ba and Au values, indicating that a long-lived and widespread plume of VMS-style mineralization was active during deposition of the sedimentary and volcaniclastic sequence.

Significantly, intervals of black argillite occur within the mineralized horizons and elsewhere throughout the stratigraphy of the East Lake basin which are interpreted as equivalent to the “Mine Argillite”, which hosts Hecla’s Greens Creek deposit (current reserves – Hecla Mining Company: 7.68 million tons grading 14opt Ag, 0.11opt Au, 10.4% Zn, and 4% Pb), located 145 kilometres to the north. The majority of the planned 2008 work program will consist of shallow “Winkie” core holes that will provide data for metal zoning and basin reconstruction within the “Mine Argillite” at Woewodski.

Much of the 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 metres. Drilling targeted gold-quartz veins which occur within broad, up to 10 metre thick, strongly carbonate altered shears. Quartz veins were intersected in many of these holes. Higher grade results include: 1.13 metres grading 4.0g/t Au, and 0.73 metres grading 7.2 g/t Au; however, the high gold grades obtained in surface samples were not obtained in drill core(1). No further work is planned on these veins at this time.