BVA Bravada Gold Corporation

Bravada Gold Corporation (TSX VENTURE:BVA)(FRANKFURT:BRT) ("Bravada") announced
today that is has executed a Memorandum of Understanding with Canterra Minerals
Corporation (TSX VENTURE:CTM) ("Canterra") whereby Canterra may earn up to a 70
percent interest in Bravada's Highland and East Manhattan gold/silver projects,
located respectively within the Walker Lane Gold belt in western and central
Nevada. 


Canterra may earn a 51 percent interest in the Highland project by making cash
payments of US$30,000, issuing 1,250,000 common shares in five annual tranches
of 250,000 shares each commencing on regulatory acceptance of the transaction
and incurring aggregate exploration expenditures of US$2 million over the four
years following regulatory acceptance. Canterra may increase its interest to 70
percent within two years of earning its 51% interest by making a further cash
payment of US$100,000, issuing a further 500,000 common shares and incurring an
additional US$4 million in exploration expenditures. The terms for Canterra
earning its 51 percent interest in the East Manhattan project are identical to
the Highland terms, except that the cash payments on signing the Memorandum of
Understanding will be US$25,000 and further cash payments of US$30,000,
US$35,000, US$40,000 and US$45,000 will be required on or before the first,
second, third and fourth anniversaries of regulatory acceptance, respectively.
The terms for Canterra to increase its interest in the East Manhattan project
are identical to the terms for increasing the Highlands interest to 70 percent. 


Initially, and as long as mutually acceptable, Bravada will be project operator.
Each property is subject to a 3% NSR in favour of the underlying vendors of the
properties. The 3% NSR on each property may be bought down to 2% upon payment of
the sum of US$1 million to the underlying vendors of that property.


Highland - The Highland low-sulfidation-type project consists of 66 Federal lode
claims for a total of approximately 530 hectares and is located in the Walker
Lane Gold trend. Previous drilling by Bravada's US subsidiary intersected vein
zones with locally high-grade intercepts; the Company's best hole, H02013,
intersected 1.5 meters (m) of 66.9 grams of gold per ton (g/t) and 397.7g/t
silver within a 12.2m intercept of 9.5g/t gold and 109.4g/t silver, with true
thicknesses estimated at 65% of the intervals. A thin layer of alluvial gravel
covers much of the property and various geophysical methods have been employed
to identify other targets, which to date have not been tested with drilling.
Detailed ground magnetics, four lines of IP, and one line of AMT have been
conducted at Highland. Plans are to add a detailed soil survey over the main
target area early in the spring, with drilling to follow when ground conditions
allow later in the spring.


East Manhattan - The East Manhattan low-sulfidation-type project consists of 84
Federal lode claims for a total of approximately 680 hectares and is located at
the eastern edge of the Manhattan Mining district, approximately 19km southeast
of the giant low-sulfidation Round Mountain Gold mine complex. Bravada's US
subsidiary conducted two drilling campaigns at the project, primarily along two
of several mapped zones of auriferous veins. Shallow gold mineralization has
been intersected along the primary vein zone for 425 meters of strike length.
The Company's best drill hole, EM08-010, intersected an estimated true thickness
of 11.25m of 2.868g/t Au at 91.4m depth followed by 11.25m of 0.805g/t Au at
118.9m depth. The vein zone projects along strike for another approximately 870m
to the east under thin gravel cover, which will be the primary target for a
drill program anticipated for early summer, after additional geophysical surveys
are conducted.


President Joe Kizis commented, "At Highland and East Manhattan there remains
great potential both to add to the mineralization already identified by Bravada
and to discover new, gravel-covered deposits. Low-sulfidation deposits such are
these can be among the highest margin types of gold and silver deposits
worldwide, many exploited by small footprint, underground mining and relatively
benign milling operations. Their location in established mining regions in
Nevada reduces risks associated with land tenure, logistics, capital and
operation costs when compared to many other regions of the world."


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

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bravada Gold Corporation
Liana Shahinian
604-641-2773 or Toll Free: 1-888-456-1112
liana@mnxltd.com
www.bravadagold.com

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