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Bravada Projects

Shoshone Pediment property

Bravada owns 70 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.

In May 2013, Baker Hughes, has notified Bravada that it has completed a third phase of drilling at Bravada’s Shoshone Pediment gold and barite project. The program, designed to test for the presence of barite mineralization, consisted of an additional 12 reverse-circulation drill holes (719m). The total program during 2013 consisted of 43 holes, for total of 3,030 meters of drilling. The property is located along the Battle Mountain-Eureka Gold trend, which, in the project area, overlaps one of Nevada’s most important regions for barite production. Baker Hughes has the option to acquire 100% of any barite ore, whereas Bravada will retain all other mineral rights, including gold, and will receive a split of the drill samples from the barite drilling for its independent geologic logging and assaying. Gold and other mineral values will be reported subsequent to evaluation by Bravada of assay data.

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.

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.