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Bravada Projects

Shoshone Pediment property

Bravada owns 54 claims that comprise the Shoshone Pediment property.  Low-level gold and encouraging pathfinder geochemistry are widespread in generally unfavorable Upper Plate rocks.  The property is near the northwestern projection of a series of small gold deposits in Upper Plate rocks at US Gold's Slaven Canyon property.  These gold deposits are between approximately 1.5 and 8km southeast of the property.  More prospective Lower Plate carbonates are at an unknown depth.

The rights to barite at the Company’s Shoshone Pediment property were leased to Baker Hughes, for which the Company will receive an advanced minimum royalty and a royalty for any barite produced from the property.  They will also pay federal and county fees to maintain the claims and provide Bravada with a split of any drill samples that they collect while they drill out the bed of barite exposed on the property.  Bravada reserves the rights to explore for and mine gold and other metals.

Baker Hughes exercised an option to purchase rights for barite only. Bravada will receive a quarterly royalty payment on any barite production greater than 150,000 tons. Should there be a discovery of both barite and other metals; each company would have the right to mine their respective minerals while stockpiling minerals belonging to the other party. Baker Hughes is currently permitting two open pits on Shoshone Pediment and expects to begin mining late in 2019.

Barite was historically produced from an open pit adjacent to the Shoshone Pediment property, and the property lies along the northwesterly projection of a linear cluster of small gold deposits hosted in Upper Plate rocks along Slaven Canyon. Although gold mineralization may exist in the Upper Plate rocks, which also host the barite mineralization, Nevada’s largest gold deposits typically occur in underlying Lower Plate carbonate host rocks, which have not been tested by drilling at Shoshone Pediment.