Bravo Venture Group Inc.

Bravo Venture Group Inc.

December 19, 2006 11:54 ET

Bravo Venture Group Inc.: Phase II Drilling Extends Mineralized Zones at Homestake Ridge

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 19, 2006) - Bravo Venture Group Inc. (TSX VENTURE:BVG)(FWB:B6I) reported today that Phase II drilling on the Homestake Ridge property has intersected both focused zones of higher grade gold mineralization as well as broader zones of lower grade gold mineralization and the drilling continues to extend the main horizons both down dip and along strike to the northwest of previously reported holes.

The company reports that it has now received assay results from 6 of 12 core holes drilled as part of the 3,311 metre, Phase II drill program on the Homestake Ridge property in the "Eskay Creek" region of northwestern British Columbia. Results from the remaining 6 drill holes, check assays and over limit base-metal assays are pending. Meterage for the combined 2006 Phase I and II programs totals 6,532 metres.

The highlight of these initial Phase II results is a 7.05 metre interval grading 9.92g/t Au and 3.50g/t Ag, which contains a higher grade intercept of 2.70 metres grading 24.45 g/t Au and 7.74 g/t Ag in hole HR06-41. This interval represents the deepest high-grade intercept on the property to date, occurring a full 500 metres vertically below the historical surface workings.

Other significant intercepts received include Hole HR06-43 where 5.05 metres returned 5.52g/t Au and a second 5.05 metre interval contains 6.10g/t Au in hole HR06-43. A shallow mineralized interval (less than 60 metres below surface) from drill hole HR06-44 returned 38.70 metres of 0.62g/t Au and 12.56g/t Ag including 8.80 metres of 1.58g/t Au and 41.73g/t Ag.

Figure 1: Homestake Ridge - Preliminary Long Section of the Main Mineralized Zone (To view, please click the following link:

These results continue to extend the main mineralized horizon both down dip and laterally to the northwest of previous drilling and represent significant step-outs from high-grade drill intercepts of 8.5 metres of 25.3 g/t Au in hole HR06-27 and 14.8 metres of 15.7 g/t Au in hole HR06-24 reported earlier from the 2006 Phase I drilling (see NR-25-06 dated September 18, 2006 and NR-21-06 dated August 28, 2006).

The main mineralized horizon can now be traced for over 200 metres strike and greater than 500 metres down-dip. Evaluation of the Phase I and Phase II drill results suggest strong stratigraphic controls on the mineralization, which varies from copper-rich in the central and southeastern parts of zone to more lead-zinc-silver rich up-dip and to the northwest. Possible crosscutting "feeder-style" zones oriented at oblique angles to the main mineralized horizons may form thicker zones of higher-grade mineralization at the intersection with the main horizons.

Table 1: Summary Gold-Silver Assays from 2006 Phase II Drill Program on Homestake Ridge

Drill Hole From (m) To (m) Int (m) Au g/t Ag g/t
HR06-39 240.00 241.50 1.50 0.38 9.87

246.10 268.80 22.70 0.54 2.67
inc 246.10 248.85 2.75 0.99 15.38

283.20 288.00 4.80 0.79 6.44

HR06-40 373.75 387.50 13.75 0.41 1.58

HR06-41 289.95 297.00 7.05 9.92 3.50
inc 293.10 295.80 2.70 24.45 7.74

316.30 319.15 2.85 3.58 1.16

HR06-42 NSV

HR06-43 163.25 177.75 14.50 2.27 1.44
inc 170.70 175.75 5.05 5.52 3.28

198.00 203.05 5.05 6.10 1.82

HR06-44 17.40 56.10 38.70 0.62 12.56
20.20 29.00 8.80 1.58 41.73

111.20 119.10 7.90 1.13 6.14
Analyzed by FA- ICP by Acme Analytical Labs, Vancouver, BC.

Bravo will contract an independent 43-101 compliant technical evaluation upon receipt of all assay results from the 2006 program. The evaluation will form the basis for a multi-rig core drilling program in 2007, which will attempt to delineate and extend the known mineralized zone, as well as to test the target stratigraphy in several high-priority areas elsewhere on the property.

Bravo can earn a 100% interest in the Homestake Ridge project, from Teck Cominco Limited "Teck Cominco", by expending $3,000,000 in exploration and issuing 200,000 shares and carrying the holding costs of the claims. Teck Cominco may re-acquire a 60% interest in the property by spending two times Bravo Venture expenditures and can earn up to an additional 10% by sole funding a feasibility study and arranging production financing and construction guarantees.

The Crown Grant portion of the Homestake Ridge project consists of six claims and fractions, totaling 92 hectares that are entirely surrounded by the property optioned from Teck Cominco. The acquisition terms for the Crown Grant properties include staged cash payments totaling $210,000; the staged issuance of 400,000 shares and aggregate property expenditures totaling $1,250,000 up to December 31st, 2007. All of these expenditures may be applied toward the earn-in with Teck Cominco.

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.

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. We seek safe harbor.

Contact Information