Bravo Venture Group Inc.

Bravo Venture Group Inc.

August 21, 2007 16:21 ET

Bravo Mobilizes Second Drill Rig to Homestake Ridge

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2007) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that a second core drill rig has been mobilized to the Homestake Ridge property as part of a +$3.0 million exploration program which will include approximately 9,000 metres of diamond drilling in approximately 35 drill holes. A third rig is anticipated to arrive early in September. The project is located 32 kilometres southeast of Stewart, within the "Eskay Creek" region of northwestern British Columbia.

The second rig will start testing on the Vanguard Gold zone located 2.2 kilometres to the southeast of the Homestake deposit along what is interpreted as an on-strike extension of the target horizon. Historical chip-channel sampling on the Vanguard Gold zone has returned 7.34 g/t Au over 11.7 metres and 1.8 g/t Au over 13.0 metres(1) within a mineralized zone which is traced on surface and through a series of trenches, open cuts and short adits for over 150 metres strike length. Three drill holes for a total of approximately 350 metres are planned as an initial test of this target before the drill is moved to the northwest extension of the Homestake zone where drilling, with one core rig, is already underway.

To date, 1500 metres of drilling has been completed in three drill holes at the Homestake zone. A fourth drill hole is currently underway. Logging and sampling of the holes is in progress and samples from Hole 07HR-51 have been sent to the lab for analyses. Assays are pending.

Bravo has earned a 100% interest in the Homestake Ridge mineral claims, optioned from Teck Cominco Limited ("Teck Cominco") in June 2003, by issuing 200,000 shares to Teck Cominco and spending in excess of $3.0 million on exploration and development work on the claims. Upon Bravo providing notice that they have spent a minimum of $5.0 million (to a maximum of $8.0 million) Teck Cominco may back-in, by making an election by the later of December 31, 2007 and the date which is ninety days after receiving notice from Bravo, and earn a 60% interest by expending an amount equal to 200% of Bravo's expenditures, in scheduled yearly minimum annual expenditures of 20%. Teck Cominco can also earn up to an additional 10% by sole funding a feasibility study and arranging production financing and construction guarantees.

In March 2007, Bravo announced 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 (see NR-04-07)(2). The deposit remains open both along strike and at depth, with some of the thickest and highest grade intercepts returned from holes along the northwest margin of the deposit.

Woewodski Island

Exploration continues on Woewodski Island in southeast Alaska where 1329 metres of drilling have been completed in 20 short core drill holes. To date, drilling has focused on the Matt's Trench and the Miami Beach showings along the Blue Quartz trend and on the main Red Quartz showing located on the Red Quartz trend. Further drilling is anticipated on the White Quartz, Pixie and lower Red Quartz showings where surface chip sampling has returned values up to 5.6g/t Au in epithermal quartz veins. Logging and sampling of the completed drill holes is proceeding and assays are pending.

Ground magnetic and IP geophysical surveys covering 18.2 line-kilometres have been completed over the East Lake VMS target. Compilation and interpretation of the of the geophysical data is in progress in anticipation of follow-up drill testing later the exploration program.

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) Composites were calculated from assay values and sample locations contained within historical records from the property. Bravo Venture Group does not have the original sample material available and has not attempted to independently verify this data or check the QAQC standards used at the time. Bravo has no reason to believe that these results are not representative of mineralization from these locations.

(2) 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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