Bravo Venture Group Inc.
TSX VENTURE : BVG
FRANKFURT : B6I

Bravo Venture Group Inc.

May 13, 2009 13:32 ET

Bravo Announces Increase in Brokered Private Placement to $6,234,550

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 13, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Bravo Venture Group Inc. (the "Company") (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that the flow-through component of its recently announced private placement (NR-11-09, May 05/09) has been oversubscribed and the offering of "flow-through units" and "common share units" has been increased from $5.0 million to $6,234,550. The company said it now plans to issue "flow-through units" totaling $5,411,700 and "common share units" totaling $822,850.

Haywood Securities Inc. has been engaged to complete the private placement offering, on a marketed reasonable best efforts basis. An initial closing of approximately $5,784,550 is expected on or about May 26th, 2009 and a second closing of approximately $450,000 on or about June 1st, 2009.

The "flow-through units" are priced at $0.30 per flow-through unit. Each flow-through unit will consist of one flow-through share and one-half of one non flow-through common share warrant, with one whole non flow-through common share warrant exercisable to purchase one common share of the Company at a price of $0.40 per share, for a period of two years from the date of issue of such flow-through units.

The "common share units" are priced at $0.30 per common share unit. Each common share unit will consist of one common share and one common share warrant, exercisable to purchase one common share of the Company at a price of $0.35 per share for a period of two years from the date of issue of such common share units.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All of the securities sold in the Offering will be subject to a four-month hold period.

Net proceeds will be used to fund a 7,500-8,000 metre drilling program at Homestake Ridge, with a focus on possible expansion to the NW of the high-grade gold zone and also to test an as yet undrilled 600 metre gap between an overlying hangingwall silver-rich horizon at the Homestake Main deposit and the Homestake Silver target, where, to date, only six holes have been drilled. In addition to the drilling program, the Company aims to update the resource model at Homestake Ridge and conduct initial mine and metallurgical studies, as well as preliminary baseline studies. A drilling program of 1,200-1,500 metres is planned on significant precious metals/VMS targets on Woewodski Island SE Alaska.

The Agent will receive a cash commission equal to 6% of the gross proceeds raised in this private placement (for subscribers originated by the Agent) and compensation warrants entitling the Agent to purchase such number of common share units as is equal to 10.0% of the aggregate number of flow-through units and common share units sold to pursuant to the Offering at an exercise price equal to $0.30 for a period of 24 months from the date of issue of such compensation warrants. Similar cash commissions and compensation warrants may also be paid and issued to other brokers who initiate orders for units.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to a "U.S. Person", as such term is defined in Regulation S under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available.

Bravo also said today that the $250,000 non-brokered private placement of common share units announced on May 5th, 2009, has been increased to $300,000. The common share units are to be sold at the same terms as that being offered in the brokered private placement of common share units.

About Bravo Venture Group Inc.

Bravo's exploration activities are focused within North America, specifically in N.W. British Columbia, Nevada, and S.E. Alaska. The VMS/ Epithermal gold/silver Homestake Ridge project in British Columbia is advancing with excellent drill results and a NI43-101 compliant technical evaluation which reported an inferred resource of 903,231 ounces of gold and 5,745,746 ounces of silver contained within 11.9 million tonnes with an average grade of 2.36 g/t Au and 15.0 g/t Ag using a cut-off grade of 0.5 g/t gold(1). The 2008 exploration program consisted of an extensive 42-hole, 8,400 metre multi-rig drill program that demonstrated continuity of mineralization that remains open down dip and along strike to the southeast and northwest. A similar drill program will start during the summer, 2009. The Woewodski Island prospect in S.E. Alaska is a precious-metal rich VMS target, which lies within a mineralized trend that hosts both the Greens Creek and Windy Craggy VMS deposits. A drill program is planned during Q2/Q3. The company also has a substantial land package consisting of thirteen properties located in the Battle Mountain/Eureka trend, Nevada.

On behalf of the Board of Directors

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

(1) An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Due to the uncertainty which may attach to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Inferred Mineral Resources must be excluded from estimates forming the basis of feasibility or other economic studies (43-101CP, CIM, 2001).

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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