Bravo Venture Group Inc.

Bravo Venture Group Inc.

January 16, 2007 09:00 ET

Bravo Venture Group Inc.: Homestake Ridge Yields More High-Grade Gold

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 16, 2007) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FWB:B6I) reported today additional encouraging results from Phase II drilling at the Homestake Ridge property, including new high-grade zones in two drill holes partially reported earlier.

The company reports that it has now received Fire Assay-gold, ICP and most over-limit silver and base-metal assays from 11 of 12 core holes drilled as part of the 3,311 metre, Phase II drill program at the Homestake Ridge property in the "Eskay Creek" region of northwestern British Columbia. These results include high-grade mineralization in recently sampled drill core from the 2006 Phase I drill program. Check assays for the Phase II program are still pending. The combined 2006 Phase I and II programs totaled 6,532 metres. All reported intercepts are an "estimated true thickness" on the mineralized intervals that indicate both high-grade underground and open-pittable potential.

Highlights of these latest results include a broad 45.30 metre interval of 2.6g/t Au, beginning at 35 metres below surface, from hole HR06-50 that contains a 1.94 metre interval grading 28.7g/t Au and 14.0g/t Ag. Other notable assays include 4.9g/t Au and 12.3g/t Ag over 6.94 metres from Hole HR06-48, including a 2.07 metre interval containing 13.4g/t Au and 26.2g/t Ag, and new intercepts from previously reported holes that were incompletely sampled through altered zones.

Returns from previously unsampled core in hole HR06-30 has identified a 2.04 metre interval grading 4.2g/t Au and 1.7g/t Ag and a 0.99 metre interval grading 36.3g/t Au and 7.2g/t Ag at the base of the previously reported mineralized zone (see NR-36-06). This new sampling has upgraded and extended the mineralized interval to 66.75 metres grading 2.4g/t Au and 4.2g/t Ag. Similarly, additional assaying of a 0.6 metre interval within a previously reported interval from HR06-35 has resulted in an increase in grade from 5.7g/t Au to 6.0g/t Au over 14.51 metres.

Bravo president, Joe Kizis, said the interval in Hole-50 and the upgrade in Hole-30, located 60 metres down dip, is considered significant in that the thick zone of excellent grade mineralization appears to be vectoring to the northwest where drilling is planned for 2007. "With good grade gold beginning at 35 metres below surface, the potential for future open-pit extraction is considerably enhanced," he noted.

High-grade silver mineralization also has been encountered in the upper stratigraphy of hole HR06-49 where two intervals grading 717g/t Ag over 0.50 metres and 666g/t Ag over 3.00 metres were returned from an 20.03 metre interval averaging 0.8g/t Au and 154.7g/t Ag. Similarly, silver mineralization was returned from the upper stratigraphy in previously reported holes from both the 2005 and 2006 drill programs, forming a semi-continuous, silver-rich zone in the hangingwall of the main gold-copper mineralized horizon.

Phase II drilling has extended the main zone of mineralization to more than 200 metres along strike and greater than 500 metres down dip (see NR-36-06). Mineralization remains open both along strike and at depth with some of the thickest and highest grade intercepts from the 2006 drill program returned from holes along the northwest margin of the deposit.

Figure 1: Homestake Ridge - Preliminary Long Section of the Main Mineralized Zone

To view the figure accompanying this press release please click on the following link:

Table 1: Summary Gold-Silver Assays from 2006 Phase II Drill Program on Homestake Ridge

Drill Est. True Fire Assay ICP/FA
Hole Az Dp From (m) To (m) Int (m) Thickness Au g/t Ag g/t
HR06-45 224 -45 NSV
HR06-46 224 -62 Pending
HR06-47 209 -61 141.20 153.25 12.05 10.36 1.4 1.1
inc 141.20 147.30 6.10 5.25 2.0 1.2
HR06-48 198 -44 210.65 218.54 7.89 6.94 4.9 12.3
inc 215.25 217.60 2.35 2.07 13.4 26.2
231.40 236.50 5.10 4.49 0.8 10.3
HR06-49 237 -66 97.85 121.70 23.85 20.03 0.8 154.7
inc 105.75 121.70 15.95 13.40 1.1 176.7
133.75 137.00 3.25 2.73 1.3 9.0
HR06-50 269 -54 22.10 88.70 66.60 45.29 2.6 (i)
inc 34.40 41.70 7.30 4.96 14.3 (i)
inc 34.40 37.25 2.85 1.94 28.7 14.0
and 57.75 60.60 2.85 1.94 5.8 36.5
New Values in Previously Released Drill Holes
HR06-30 247 -44 96.75 161.85 72.55 66.75 2.4 4.2
inc (previously 150.45 155.40 4.95 4.55 10.4 13.7
and 161.85 164.85 3.00 2.76 4.2 1.7
and 166.85 168.30 1.45 1.33 36.3 7.2
HR06-35 190 -53 172.40 191.00 18.60 14.5 6.0 3.6
inc 172.40 176.50 4.10 3.2 14.9 5.1

Analyzed by FA- ICP by Acme Analytical Labs, Vancouver, BC.
(i) Over-limit Assays Pending

Evaluation of the Phase I and Phase II drill results suggest strong stratigraphic controls on the mineralization, which displays a pronounced copper-bias in the central and southeastern parts of zone and a more lead-zinc-silver-bias up-dip and to the northwest. Possible "feeder-style" zones oriented at oblique angles to the main mineralized horizons may explain the distribution of thicker zones of higher-grade mineralization like that seen in drill holes HR06-30 and HR06-50. Recent modeling of the results suggests a northwest striking (315 degrees), moderately northeast dipping (55 degrees) mineralized zone, which has been assumed in order to calculate "estimated true thickness" for the mineralized intervals reported in this release. The company's website is being updated to include tables containing all reported drill intercepts, a plan map showing the locations and traces of drill holes, a longitudinal section, and a series of cross sections that show the mineralized intercepts reported to date. The link is

Bravo has contracted an independent 43-101 compliant technical evaluation of the property from Peter Folk, P.Eng. The evaluation will form the basis for a multi-rig core drilling program in 2007, which will attempt to delineate and extend the known mineralized zones, as well as to test the target stratigraphy in several high-priority areas elsewhere on the property. The report is expected to be completed by March 31, 2007.

Bravo can earn a 100% interest in the Homestake Ridge project, from Teck Cominco Limited ("Teck Cominco"), by expending $3,000,000 in exploration and issuing 200,000 shares and carrying the holding costs of the claims. Teck Cominco may re-acquire a 60% interest in the property by spending two times Bravo Venture expenditures and can earn up to an additional 10% by sole funding a feasibility study and arranging production financing and construction guarantees.

The Crown Grant portion of the Homestake Ridge project consists of six claims and fractions, totaling 92 hectares that are surrounded by the property optioned from Teck Cominco. The acquisition terms for the Crown Grant properties include staged cash payments totaling $210,000; the staged issuance of 400,000 shares and aggregate property expenditures totaling $1,250,000 up to December 31st, 2007. All of these expenditures may be applied toward the earn-in with Teck Cominco.

About Bravo Venture Group Inc.

Bravo Venture Group Inc. is focused on exploring precious and base metal-rich projects within North America, currently with properties in Nevada, Alaska, and British Columbia. The company has extensive holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada. The Woewodski Island project in southeast Alaska hosts both precious and base metal-rich massive sulphides and gold-rich orogenic quartz veins. The Homestake Ridge project is a gold-rich epithermal/VMS-related vein system within Eskay Creek/Silbak-Premier stratigraphy.

Rob Macdonald (P.Geo.) is the Qualified Persons responsible for reviewing the technical results reported in this release.

On behalf of the Board of Directors

Joseph A. Kizis Jr., Director, President, Bravo Venture Group Inc.

We seek safe harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

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