Bravada Gold Closes First Tranche of Units Offering to Existing Shareholders

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 15, 2015) - Bravada Gold Corporation (TSX VENTURE:BVA) (FRANKFURT:BRT) (the "Company" or "Bravada") has closed the first Tranche of its previously announced non-brokered private placement (the "Offering") by issuing 4,524,998 units for a total of CDN$135,750. Proceeds were mainly utilized towards Bureau of Land Management and County claim fees and partial payments on accrued accounts.

The previously announced non-brokered offering (August 21, 2015) consisted of 6,666,667 units of the Company ("Units") at a price of CDN$0.03 per Unit to raise $200,000. Each Unit consists of one common share without par value in the capital of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Share at a price of CDN$0.05 per Share for 5 years.

The Offering was made in accordance with the provisions of BC Instrument 45-534 - Exemption from prospectus requirement for certain trades to existing security holders and in accordance with the provisions of various corresponding blanket orders and rules of other Canadian jurisdictions that have adopted the same or a similar exemption from prospectus requirement.

Subject to certain limitations discussed below, the Offering is open to existing shareholders of the Company until October 5, 2015. Securities issued pursuant to this private placement carry a legend restricting trading of the securities until a date that is four months and one day from the date of distribution of the Units.

No Registration in the United States

The securities described above have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S of the Securities Act) or person in the United States, unless an exemption from such registration requirements is available. Certain shareholders in the United States were permitted to participate in the Offering upon verification by the Company that such shareholders are accredited investors (as defined in Regulation D of the Securities Act).

The Company has set August 21, 2015 as the record date (the "Record Date") for the purpose of determining existing shareholders entitled to purchase Units pursuant to the Existing Security Holder Exemption. Subscribers purchasing Units under the Existing Security Holder Exemption will need to represent in writing that they meet certain requirements of the Existing Security Holder Exemption, including that they were, on or before the Record Date, a shareholder of the Company (and still are a shareholder of the Company). The aggregate acquisition cost to a subscriber under the Existing Security Holder Exemption cannot exceed CDN$15,000 unless that subscriber has obtained advice regarding the suitability of the investment and, if the subscriber is resident in a jurisdiction of Canada, such advice is obtained from a person that is registered as an investment dealer in the subscriber's jurisdiction.

President Joe Kizis commented, "We pleased that existing shareholders continue to support the Company, recognizing the value of the Company's portfolio of properties in Nevada, one of the world's best mining jurisdictions. Bravada has attracted partners to fund exploration and development on five of its 15 Nevada properties, and expects to attract new partners for several others over the next few months. Bravada's Wind Mountain project, for example, hosts significant Indicated and Inferred resources of gold and silver, and has exciting potential for new discoveries. The five currently partner-funded projects in aggregate include earn-in work expenditures of up to $6.5 million and payments to Bravada of up to $3+ million as cash and shares, with Bravada retaining residual working or royalty interests."

On behalf of the Board of Directors of Bravada Gold Corporation

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 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.