Bravo Venture Group Inc.
TSX VENTURE : BVG

Bravo Venture Group Inc.

July 08, 2005 14:37 ET

Bravo Venture Group Inc.: B.C Project Set for August Drill Start, Flow-Through and Unit Financing Announced

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 8, 2005) - Bravo Venture Group Inc. (TSX VENTURE:BVG) reported today that the company has agreed to issue 2,875,000 common shares in non-brokered private placements at a price of $0.35 per common share.

The private placements will consist of 1,725,000 units and 1,150,000 "flow-through" common shares. Each unit offering will include one common share and one half share purchase warrant, with one full warrant exercisable to purchase one additional common share at $0.50 per share for a period of two years. In the event that the company's shares trade at a closing price of greater than $1.00 per share for a period of 20 consecutive days at any time after six months from closing, the company may accelerate the expiry date of the Warrants by providing notice to the shareholders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Corporation. Proceeds will be applied to the Woewodski Island project, for the Nevada projects, for new acquisitions and for general working capital. Finders fees may be payable.

The proceeds from the 1,150,00 "flow-through" common shares (no warrant) offering will be applied to the drill program at the Homestake Ridge project in NW British Columbia.

The Homestake Ridge project is located about 30 kilometres south of Stewart BC in the Iskut-Stewart-Kitsault mineral belt. The 2005 exploration program will target high-grade gold and silver which is hosted within quartz stockworks that have some similarity to mineralization at the historic Silbak-Premier Mine (4.3MMT of 13g/t Au and 273g/t Ag) located 55 kilometres to the north.

Ten to twelve drill holes totaling 1500 metres are planned to test high priority targets on the property. At least two drill holes will offset high grade mineralization intersected in 2003 drilling which returned 9.8g/t Au and 9.8g/t Ag over 3.1 metres within a 20 metre wide zone that averaged 2.0g/t Au and 4.9g/t Ag.

The private placements are subject to regulatory approval.

On behalf of the Board of Directors

Robert E.Swenarchuk, Director, Bravo Venture Group Inc.

Statements contained in this news release that are not historical facts are forward-looking statements as the term is defined in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Bravo Venture Group relies upon litigation protection for forward-looking statements.


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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