Bravo Venture Group Inc.

Bravo Venture Group Inc.

July 07, 2008 14:06 ET

Bravo Announces Mobilization into Homestake Ridge

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2008) - Bravo Venture Group Inc. ("Bravo") (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that field crews have mobilized to the Alice Arm camp in preparation for the start of drilling at its wholly owned Homestake Ridge Au-Ag-Cu deposit located 32km southeast of Stewart, within the "Eskay Creek" region of northwestern British Columbia.

Bravo plans an aggressive $3.5 million drilling program consisting of approximately 7,500 metres in up to 30 drill holes. Up to 15 drill holes will test extensions of the Main Homestake zone to demonstrate the continuity of higher grade mineralization throughout the deposit and to explore for possible bonanza-grade feeder faults beneath the known stratabound mineralization. Two drill rigs have been mobilized to the project and both are scheduled to start drilling on the Main Homestake zone by mid-July.

In addition to the Main Homestake zone, other targets have been identified along the equivalent stratigraphic horizon for over 3,000 metres of strike length and highlight the district-scale mineral potential of the property. The Homestake Silver zone and the Vanguard Gold zone each returned encouraging results from initial drilling during 2007 and both will be further tested with a third drill rig starting in early August. Several other attractive targets have been identified throughout the property, including the Vanguard Copper zone, where historical sampling returned high-grade copper and silver values from surface exposures in altered volcanic rock. An initial drill test of this zone is planned during the 2008 season.

Bravo anticipates an approximate 70-day field season, which should conclude in early October.

Homestake Ridge Property

The Homestake Ridge property consists of Mineral Title claims and Crown Grant claims in which a 100% interest was earned by Bravo from Teck Cominco and a private Optionor, respectively. On portions of the located mineral claims there is a 2% NSR royalty in favour of Teck Cominco and on other portions of the located mineral claims there is a 2% NSR royalty in favour of the original Optionor. Bravo has the right to purchase 1% of the Teck Cominco royalty for $1 million and 1% of the original Optionor's royalty for $1 million. The balance of the Property consisting of Crown Granted mineral claims in which Bravo has earned a 100% interest, subject to a 2% NSR royalty.

In March 2007 Bravo announced an Inferred Resource estimate at the Main Homestake zone 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 (see NR-04-07)(1). Drilling through 2007 has tested a 600 metre strike length of the mineralized horizon to depths of over 600 metres. The deposit remains open down dip and along strike to the southeast and northwest. A long section showing the location of completed drill holes has been posted on the company's website

To view Table 1: Proposed Drill Plan for the Homestake Ridge project, please click on the following link:

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 Person 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.

(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).

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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