Bravo Venture Group Inc.

Bravo Venture Group Inc.

May 12, 2009 16:09 ET

Bravo Receives Exchange Approval to Pay Advance Royalty Payment in Shares for Woewodski Island

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2009) - Bravo Venture Group (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that the Company has received TSX Venture Exchange approval to issue 200,000 shares at a deemed price of US$0.375 per share to pay advance minimum royalty payments to the Optionor of the mineral claims owned by Bravo on Woewodski Island, Alaska. Bravo has fulfilled all obligations to earn title to the claims which are now owned by Bravo's subsidiary company subject to a continuing obligation to pay annual minimum royalty payments of US$50,000 which payments are to be set off against net smelter royalty payments to be made upon commencement of commercial production from the claims. The aggregate amount of the debt being settled is US$75,000. The shares for debt transaction is a Non Arm's Length Transaction, as the company and the creditor share a common director. All future advance royalty payments will be made in cash.

At Woewodski Island, Bravo is planning a 2009 exploration program beginning in June/July 2009 consisting of two to three drill holes for approximately 1000 metres at an estimated cost of US$400,000.

The program is designed to test an area of the East Lake "paleo-graben", where 3D IP geophysics and recent drilling suggest a radical re-interpretation of the published geological setting. The new geologic model interprets surface exposures and previous drill intercepts of VMS-style base and precious metals, hosted by "mine argillite", as occurring along the northern and southern margins of an east-west-oriented paleo-graben; the center of that graben, where the thickest accumulations of massive sulfide are expected to occur, has not yet tested by drilling. The mineralization at East Lake is in the same package of Triassic-age rocks that host the Greens Creek mine (24Mt of 13.9% Zn, 5.1% Pb, 5.8 g/t Au and 730 g/t Ag)(1) in a very similar geologic setting.

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,

Lawrence Page, QC, Director and Chairman

(1) Global resource reported by Taylor et. al. in 1999. Greens Creek Mine, which during 2008 produced over 5.8 million ounces of silver, 54,000 ounces of gold, 52,000 tons of zinc and 16,000 tons of lead (2008 year-end reserves are approximately 8 million tons grading 13.7 opt Ag, 0.11 opt Ag, 10.5% Zn and 3.8% Pb. Source: Hecla Mining Company website).

We seek safe harbor.

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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