Bravada Gold Corporation (BVA:TSX.V) ("Bravada") reported
today that it has appointed Debra Struhsacker, Environmental
Permitting and Government Relations Consultant, to manage
permitting and government affairs for the Wind Mountain
gold/silver deposit in northwestern Nevada. As an integral
member of Bravada's team, Ms. Struhsacker will manage
permitting and government affairs activities necessary to
support renewed development of the Wind Mountain Project. Ms.
Struhsacker earned M.S. and B.S. degrees in Geology and has
more than 30 years of experience in the mining industry. She
has a proven track record of successfully permitting many
mineral exploration and development projects in Nevada and
elsewhere. Ms. Struhsacker is well known for her effective
advocacy on behalf of mining industry clients and brings a
wealth of experience to the Wind Mountain Project.
President Joe Kizis commented, "With the success of our
2011 exploration and in-fill drilling program, combined with
encouragement from our 2010 PEA, we felt that it is crucial
to add Debbie's expertise in mine permitting to our Wind
Mountain Management team. Debbie joins John Cox, Manager of
Development, who is overseeing geological, metallurgical, and
engineering activities at Wind Mountain. Mine Development
Associates are currently updating the resource estimate at
Wind Mountain with John's input and MDA will prepare an
updated Preliminary Economic Assessment once the resource has
been updated. The PEA is expected to be completed by the end
of the first quarter of 2012."
Subsequent to completion of the PEA, Bravada's two primary
goals for early 2012 will be to complete a pre-feasibility
study for Wind Mountain, which is expected to convert a
portion of the resource to reserve status,
and to apply for mine permits for an initial Stage 1 mining
operation, which will exploit those reserves. Future
exploration and in-fill drilling programs are expected to
allow for additional mining stages as resources are expanded
and upgraded to reserve status, and as new deposits are
discovered at numerous high-priority exploration targets
identified on the Wind Mountain property.
About Bravada Gold Corporation
Bravada Gold Corporation is a member of the Manex Resource
Group of companies with an exploration office in Reno, Nevada
from which it is exploring its extensive Carlin-type and
low-sulfidation-type gold holdings, which are strategically
located within the numerous productive gold trends in Nevada.
Bravada is self funding its Wind Mountain property towards
near-term production, and is advancing its other properties
with a combination of self funding and partner funding.
Currently three of Bravada's 21 Nevada properties are being
funded by partners. Bravo Gold Corp. (BVG.V) owns 9.76% of
Bravada's 114,264,282 outstanding common shares.
About Wind Mountain
The past-producing Wind Mountain gold/silver project is
located approximately 160km northeast of Reno in a sparsely
populated region with excellent logistics, including
county-maintained road access and a power line to the
property. AMAX Gold/Kinross Gold recovered nearly 300,000
ounces of gold and over 1,700,000 ounces of silver between
1989 and 1999 from two small open pits and a heap-leach
operation (based on Kinross Gold files). Rio Fortuna
Exploration (U.S.) Inc., a wholly owned US subsidiary of
Bravada Gold Corporation, acquired 100% of the property via
an earn-in agreement with Agnico-Eagle (USA) Limited, a
subsidiary of Agnico-Eagle Mines Limited, who retains a 2%
NSR royalty interest, of which 1% can be purchased for
$1,000,000 any time prior to production. In early 2010, Rio
Fortuna received a positive Preliminary Economic Assessment
(1) based on a gold price of US$850 per ounce with a credit
for silver at a price of $14.50 per ounce (See News Release
NR-05-10, dated April 13, 2010).
During 2011, Bravada completed 50 drill holes at Wind
Mountain with the primary goal of expanding near-surface
oxide gold/silver mineralization. This program successfully
discovered extensions of known mineralization and new areas
of shallow oxide mineralization, as well as further defined
higher-grade areas within the 2007 resource. Prompted by this
success, an update to the Wind Mountain resource and
Preliminary Economic Assessment is currently underway, with
completion anticipated during the first quarter of 2012. In
addition, metallurgical studies were conducted and are near
completion. Biological and archaeological studies that will
be necessary for mine permitting were also completed during
2011.
(1)Note that Canadian NI 43-101 guidelines define a
PEA as follows: "A preliminary economic assessment is
preliminary in nature and it includes inferred mineral
resources that are considered too speculative geologically to
have the economic considerations applied that would enable
them to be classified as mineral reserves, and there is no
certainty that the preliminary assessment will be
realized."
Joseph Anthony Kizis, Jr. (P.Geo.) is the Qualified Person
responsible for reviewing the technical results in this
release.
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On behalf of the Board of Directors of Bravada Gold
Corporation
"Joseph A. Kizis, Jr."
Joseph A. Kizis Jr.
President and Director, Bravada Gold Corporation
For further information, please visit Bravada's website at or
contact Liana Shahinian at 604.641.2773 or toll free at
1.888.456.1112 or by email at liana@mnxltd.com.
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.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Bravada's projects, and the availability of financing for Bravada's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Bravada does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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