BVA Bravada Gold Corporation

Bravada Gold Corporation (TSX VENTURE:BVA)(FRANKFURT:BRT) ("Bravada") has signed
a Letter of Understanding with Duncastle Gold Corp. (TSX
VENTURE:DUN)(FRANKFURT:5D3) ("Duncastle") to option Bravada's Drayton Archean
gold property in Ontario. Bravada will receive 250,000 shares of Duncastle upon
approval from the TSX Venture Exchange and annually to an aggregate of 2,500,000
common shares over a six-year period in order to earn 100% interest in the
property. In addition, Bravada will retain a 1.0% net smelter return royalty
from any production at the property. Bravada and Duncastle have several
directors and officers in common including: Lawrence Page, Michael Rowley, Derek
Page and Arie Page. The Letter of Understanding is subject to TSX Venture
Exchange acceptance on behalf of both Bravada and Duncastle.


The Drayton Property is located in Drayton Township, Patricia Mining Division,
Ontario, approximately 10kms east-southeast of the town of Sioux Lookout.
Mineral rights include seven mining claims totaling approximately 1,584
hectares. The claims are 100% owned by Bravada, subject to a 3.0% net smelter
return royalty payable to the original optionor. Bravada has the right to
purchase 1.5% of such net smelter return royalty by paying the optionor
$3,000,000.


Two styles of gold mineralization occur on the property: lode-type associated
with quartz +/- iron carbonate veins and stockwork zones, and
copper/gold/molybdenum-type associated with feldspar porphyry. Although exposure
is very poor due to soil cover, three mineral occurrences on the Drayton Gold
property have received previous attention.


The Shaft occurrence is located at a small historic shaft where grab samples
from the adjacent dump contain encouraging gold values. Trenching and limited
outcrops reveal auriferous quartz veins in a variety of orientations and
lithologic units, including various volcanic and volcaniclastic units and
intrusions of various compositions. Veins contain disseminated or patchy
sulphides, chiefly pyrite with minor chalcopyrite, sphalerite and galena,
together with calcite, +/- ilmenite, +/-tourmaline and fuchsite, with local
native gold and telluride minerals. Host rocks adjacent to the veins are
variably sheared, carbonatized, silicified and sulphidized.


Bravada's predecessor, Fortune River Resource Corp., conducted several phases of
surface exploration and diamond drilling at the Shaft occurrence, including
trenching, soil sampling, magnetic and IP surveys. Fortune River identified at
least three generations of quartz-carbonate veins and veinlets, with visible
gold identified in the latest cross-cutting veins. Fortune River partially
tested approximately 800m of strike with 21 core holes, totaling 4,015m.
Mineralization of greater than 0.5g/t gold was intersected in most of the holes,
with several holes containing multiple intervals of mineralization. Higher grade
intervals contain visible gold. Significant gold intercepts include 13.5g/t Au
over 1.5m and 1.0g/t Au over 9.1m. Mineralization is open along strike and at
depths below 115m.


The FP61 occurrence was partially tested prior to 1990 by Noranda Mines Limited,
Rio Tinto Canadian Exploration, and Norlode Resources Inc. These companies
conducted geophysics, trenching and drilling programs in search of
porphyry-related Cu-Au-Mo mineralization along a northeast-trending contact zone
between quartz porphyry and diorite intrusive rocks. Mineralization consists of
disseminations, patches and stringers of chalcopyrite, pyrrhotite and pyrite,
with rare specks of molybdenite. Host rocks are variably silicified,
sericitized, and chloritized.


The WG16 occurrence was partially tested in the early 1990's by Teck Exploration
Limited, who conducted ground geophysics (magnetic, VLF electromagnetic, and
Induced Polarization) followed by trenching and diamond drilling. Auriferous
quartz veins occur at the sheared contact of quartz+carbonate altered volcanic
and sedimentary rocks.


Bravada President Joe Kizis commented, "Drayton is an intriguing property. Our
work concentrated on only one of the mineral showings; however, soil covers most
of this large property and very likely hides additional significant
mineralization. Although we were encouraged by our results at the Shaft target,
we intend to concentrate on our Nevada properties. Moving the property to
Duncastle allows Bravada shareholders to participate in future success with a
company that intends to make Ontario a major focus of its exploration efforts."


Duncastle President Michael Rowley commented, "Duncastle is excited to acquire a
100% interest in the Drayton project as a first move into Ontario. The project
has great potential for additional high-grade gold discoveries due to the highly
focused nature of the past work and the extensive ground cover over the claims.
Bravada's predecessor Fortune River conducted high-quality work and has provided
an excellent database from which to further advance the project. We expect to
create the first 3D models of the data and conduct geophysics to rapidly
generate new drill targets to complement existing targets."


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. Bravada recently announced signing a
letter-of-intent with Argonaut Gold Inc., a well-respected gold miner, to
further exploration and development of the company's Wind Mountain property.
Bravada is advancing its other properties with a combination of self-funding and
partner-funding. Currently three of Bravada's 18 Nevada properties are being
funding by partners. Homestake Resource Corporation (HSR.V) owns 10.19% of
Bravada's 114,834,282 outstanding common shares.


About Duncastle Gold Corp.

Duncastle Gold Corp is based in Vancouver BC and is a member of the Manex
Resource Group of companies. The company owns, or has 100% option agreements to
own, mineral exploration properties covering or surrounding past producing mines
in northwest and southeast British Columbia, Canada. Duncastle has assembled
contiguous claim blocks totaling more than 210 sq km (21,000 hectares) in these
two historic and productive regions including the large polymetallic Porphyry
Creek project near Smithers BC, where the company has identified a
copper-molybdenum porphyry system among other priority targets. In southeast BC
the company has consolidated most of the historic Ymir Mining camp near Salmo
which was once the largest silver producer in the British Commonwealth,
producing over $500 million in gross mineral value at today's values before mine
closures in the 1940s.


Joseph Anthony Kizis, Jr. (AIPG CPG-11513, Wyoming PG-2576) is the Qualified
Person responsible for reviewing Bravada's technical results in this release.


Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing
Duncastle's 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

On behalf of the Board of Directors of Duncastle Gold Corp,

Michael Rowley, President & Director, Duncastle Gold Corp.

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
companies' projects, and the availability of financing for the companies'
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 and Duncastle Gold Corp. do not assume any obligation to update or
revise their 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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