Bravada Gold Corporation announced that it has received approval, subject to posting the required bond, for a Notice-level drilling permit from the Bureau of Land Management for sixteen drill sites on Bravada's Highland Project. The project is within the prolific Walker Lane Gold belt, where large gold/silver deposits continue to be discovered, increasingly beneath "barren" surface alteration. The Company plans to drill approximately 2,600 metres in 15 holes at the Highland low-sulfidation-type project during the fall of 2023, subject to rig availability.

The property consists of 192 Federal lode claims (~1,500 hectares). Previous drilling by Bravada intersected vein zones with high-grade intercepts, confirming the potentially productive nature of a hydrothermal gold system. The Company's best hole, H02013, intersected 1.5m of 66.9g/t gold and 397.7g/t silver within a 12.2m intercept of 9.5g/t gold and 109.4g/t silver (previously announced, true thicknesses estimated at 65% of the intervals).

Highland is a large property with multiple "hot spots" of high-grade gold at surface, although variable thicknesses of gravel cover much of the property and several targets have been identified that have not been previously tested with drilling. The permitted drill sites are for two of those targets, Big Hammer and Geyser. Widespread samples of float, outcrop, and soils collected at the Big Hammer target contain anomalous gold and pathfinder geochemistry, with values of 0.1g/t to 1.0/g/t Au and with a maximum of 15g/t Au in a float sample.

These values are interpreted to be leakage very close to the paleo-surface based on geologic features; thus, with minimal erosion, undiscovered high-grade vein deposits should be preserved in their entirety. The Geyser target is an extensive area of sinter outcroppings and float. A float sample of a chalcedony veinlet cutting sinter assayed 0.39 ppm Au, indicating a gold-bearing hydrothermal system.

CSAMT geophysics indicates the target is an extension of the same fault system that is being tested at the Big Hammer target. Only a few widely scattered shallow historic reverse-circulate holes have been drilled at this target, and drilling has not tested the boiling zone where most of the gold should have been deposited. The current Gabel claim group was originally part of a larger claim group extending to the westwhere excellent Devonian-age host rocks are exposed in outcrop.

Although Bravada identified a large area of alteration with attractive pathfinder geochemistry, the Company dropped much of the exposed ground after reviewing drill results that were provided to Bravada by a previous explorer. The Company retained the current claim position to cover an anticlinal fold structure affecting the favorable host rocks, which is a structure frequently hosting the strongest gold mineralization, and to control the strongest surface geochemistry and jasperoid development where those features are covered by alluvium. Encouraging drill results have been reported from mineralized faults southeast and south-southwest of Bravada's claims, and those structures project to intersect under the alluvium-covered portion of Bravada's claims. Soil samples were collected, and gold values are shown on the figure below.

Favorable host rock should lie beneath relatively shallow alluvial cover. Additional field work is planned to refine the target, prior to drill planning and permitting.