Homestake Ridge - British Columbia

In 2011, Homestake Resource reported an updated mineral resource estimate, (NI43-101 compliant) of 191,000oz gold and 1,350,000oz silver indicated plus 530,000oz gold and 13,470,000oz silver inferred at a 3.0 g/t AuEq. cut-off in two separate deposits.

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Message: Bravo to Pay Advance Royalty Payment in Shares for Woewodski Island
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Bravo to Pay Advance Royalty Payment in Shares for Woewodski Island

posted on Apr 07, 2009 12:00PM
April 7, 2009
Bravo to Pay Advance Royalty Payment in Shares for Woewodski Island
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2009) - Bravo Venture Group (TSX VENTURE:BVG)(FRANKFURT:B6I) reported today that the Company has agreed 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. This transaction is subject to Exchange approval.

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 the basal portion 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 the "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, 5.8g/t Au and 730g/t Ag)(1) in a very similar geologic setting.
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