VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 21, 2013) - Bravada Gold Corporation (TSX VENTURE:BVA)(FRANKFURT:BRT) ("Bravada" or the "Company") reported that at its annual general meeting held on March 14, 2013 the following directors were re-elected: Joseph A. Kizis, Jr., Lawrence Page, Q.C., John Kerr, Michael Rowley, Richard Hughes, G. Ross McDonald, Paul Dircksen and Terrence Eyton. In addition, the shareholders re-appointed Smythe Ratcliffe, Chartered Accountants, as auditor of Bravada and approved Bravada's rolling incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the plan. The stock option plan is subject to TSX Venture Exchange acceptance.
The following officers were re-appointed subsequent to the annual general meeting: Joseph A. Kizis, Jr. as President, Lawrence Page, Q.C. as Chairman and Arie Page as Corporate Secretary. Derek Page has resigned as Chief Financial Officer of Bravada effective March 31, 2013 and the board of directors thanks him for his efforts on behalf of the Company.
Bravada is pleased to announce the appointment of Graham Thatcher as Chief Financial Officer of the Company subsequent to Derek Page's resignation. Mr. Thatcher moved from London, England to Vancouver, British Columbia in 2006. Specializing in financial reporting and auditing across a breadth of business sectors in both the UK and Canada, he brings extensive experience of operating with International Financial Reporting Standards and paperless systems. He is also senior accountant at Manex Resource Group which provides administrative, financial, corporate, corporate finance and geological services to a number of public companies in the mineral resource sector. Prior to this, he worked in public practice at Smythe Ratcliffe LLP with companies in the mining and exploration sector. Mr. Thatcher obtained a Bachelor of Arts degree with Honours in Economics from Lancaster University in 1995, which included a one year program at the University of British Columbia. He is also a finalist of global accounting designation, the Association of Chartered Certified Accountants (ACCA). Mr. Thatcher is also volunteer board member and treasurer at Heritage Hall Preservation Society, a non-profit charitable organization whose mandate is to restore and manage Heritage Hall, a landmark building located in Vancouver.
Wind Mountain Drilling Underway
Drilling is underway at the Company's Wind Mountain gold and silver property, located in northwestern Nevada. The program is expected to consist of eight reverse-circulation holes that will further test two exploration targets, which are separate from existing resources, and one probable expansion of Bravada's Breeze resource. Details of the planned program were described in news release NR-03-13, dated February 19, 2013. The goal of this program is to identify new mineralization that will add to Bravada's existing NI-43-101 resource at Wind Mountain, which consists of 570,000 ounces of gold and 14.7 million ounces of silver in the Indicated category and an additional 354,000 ounces of gold and 10.1 million ounces of silver in the Inferred category (see Table below and news release NR-06-12 dated April 11, 2012 for details).
The drilling program is being funded by Argonaut Gold Inc. (AR.T, "Argonaut"), with Bravada as project manager. Argonaut can fund staged expenditures totalling US$7.5 million over a three-year period to exercise their option to purchase the project by paying Bravada a price of $30 per ounce of gold-equivalent contained within Measured and Indicated Resource categories as determined by independent Qualified Persons. Further details of the agreement can be found in Bravada's news release of September 18, 2012 (NR-11-12).
About Wind Mountain
The past-producing Wind Mountain gold/silver project is located approximately 160km northeast of Reno, Nevada in a sparsely populated region with excellent logistics, including county-maintained road access and a power line to the property. A Technical Report for an independent Preliminary Economic Assessment (PEA) and resource estimate was conducted by Mine Development Associates (MDA) of Reno and has been posted on SEDAR, as previously reported (see NR-07-12 dated May 1, 2012).
Mine Development Associates compiled the technical report. Thomas Dyer, P.E. is a Senior Engineer for MDA and is responsible for sections of the technical report involving mine designs and the economic evaluation, and Steven Ristorcelli, C.P.G., is a Principal Geologist for MDA and is responsible for the sections involving the Mineral Resource estimate. These are the Qualified Persons of the technical report for the purpose of Canadian NI 43-101, Standards of Disclosure for Economic Analyses of Mineral Projects.
To view Table 1, please visit the following link: http://media3.marketwire.com/docs/bva321-Table1.pdf.
About Bravada Gold Corporation
Bravada is a member of the Manex Resource Group of companies with an exploration office in Reno, from which it is exploring its extensive Carlin-type and low-sulfidation-type gold holdings strategically located within numerous productive gold trends in Nevada. Homestake Resource Corporation (HSR.V) owns 10.19% of Bravada's 114,834,282 outstanding common shares.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513, Wyoming PG-2576) is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's website at bravadagold.com.
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 the company's projects, and the availability of financing for the company'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 Gold Corporation 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.
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.