Bravada Gold Corporation
TSX VENTURE : BVA
FRANKFURT : 6BG

Bravada Gold Corporation

August 20, 2010 16:55 ET

Bravada Closes Second Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2010) - Bravada Gold Corporation (TSX VENTURE:BVA)(FRANKFURT:6BG) reports that it has closed the second tranche of its previously announced non-brokered unit private placement by issuing 900,000 units at a price of $0.15 per unit for gross proceeds of $135,000. Each unit consisted of one common share and one-half share purchase warrant, with each whole warrant exercisable to purchase one additional common share at a price of $0.20 per share for a period of two years. Bravada closed the first tranche of the private placement respecting 6,000,000 units on August 6, 2010 (see news release NR-07-10) and has raised total gross proceeds of $1,035,000 from both tranches of the private placement.

The proceeds from the private placement will be utilized to fund exploration costs on various projects in Nevada's Battle Mountain Eureka Trend, including the Company's Signal and PH projects, and for working capital. Finders' fees are payable. All securities issued pursuant to second tranche of the private placement, including common shares, share purchase warrants and finders' warrants issued as finders' fees, carry a legend restricting trading of the securities until December 21, 2010.

About Bravada Gold Corporation

Bravada Gold Corporation is a member of the Manex Resource Group of companies with an exploration office in Reno, Nevada from which it is exploring its extensive Carlin-type gold holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada. Bravo Gold Corp. (BVG-TSX.V) owns 34% of Bravada's 32,519,218 common shares currently outstanding.

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.

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