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Private Placement: Braveheart Resources Inc. (TSXV:BHT)

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Braveheart Resources is looking to raise gross proceeds of up to $500,000 from the private placement of up to 5 million units priced at $0.10 per unit. The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.14 for 14 months.

Additional Information:

Company: Braveheart Resources Inc.
Website: http://www.BraveheartResources.com
Stock Symbol: TSXV: BHT
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for InvestmentPitch Media

Braveheart Resources Inc. has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 5 million units priced at $0.10 per unit.

The units consist of 1 share and 1 warrant, with the warrant exercisable at $0.14 for 14 months.

The shares are currently trading at $0.10.

The proceeds will be used for exploration activities and infrastructure up-grades at its 100% owned Bull River Mine project near Cranbrook, British Columbia.

The 100% owned Bull River Mine project, Braveheart’s main asset, has a current Indicated Mineral Resource of approximately 73 million lbs of copper and an Inferred Mineral Resource of 14.5 million lbs of copper along with some gold and silver, using a 0.6% copper equivalent cut-off.

Access by highway 3 and the paved all-weather Wardner-Fort Steele Road until it intersects the all-weather gravel Bull River Road, which provides direct access to the mine access road.

The company recently reported that it had intersected high grade copper mineralization from its drill program at the underground workings at its Bull River Mine project.

Hole BRU-21-01 intersected 19.79% copper and 98.6 g/t silver over 0.6 metres within a broader intersection of 5.12% copper, 28.6 g/t silver and 0.63 g/t gold over 3.4 metres, with assays pending on the other 3 holes.

This intersection does not represent the true width of the structure.

All four holes drilled to-date as part of the 2021 drilling program have intersected mineralized structures approximately 550 metres below the portal, which is below the current workings of the mine that are only 350 metres below the portal.

Ian Berzins, President & CEO, stated: "We are extremely pleased with the initial results from this year's drill program. Not only have we intersected high-grade copper mineralization below our current workings, but the silver and gold values appear to be increasing at depth relative to our current NI 43-101 Mineral Resource which was completed in January 2019 by Sue Bird of Moose Mountain Minerals."

In April, the company announced that Ocean Partners will purchase copper concentrates, with gold and silver credits, from Braveheart’s Bull River Mine.

Ocean has agreed to provide the company with a Pre-Payment Financing Facility against initial proceeds from milling of mineralized material on surface.

The initial agreement covers 45,000 wet metric tonnes of copper concentrate, with Ocean having a right of first refusal on any remaining production thereafter from Bull River.

The Facility provides Braveheart with access to up to US$3,500,000 which can be used for capital expenditures at Bull River including plant commissioning and general working capital purposes.

Braveheart's newest acquisition is the 100% owned Thierry Mine project near Pickle Lake, Ontario containing copper, nickel, silver, palladium, platinum and gold.

A newly updated NI 43-101 Preliminary Economic Assessment was completed in the first quarter of 2021.

Braveheart also has an option to purchase the Alpine Gold project near Nelson, British Columbia, which hosts the Alpine Mine which produced 11,500 oz gold, 7,200 oz silver, 49t lead and 17t zinc in its operating life in 1940’s.

For more information, please visit the company’s website www.BraveheartResources.com, contact Ian Berzins, President & CEO, at 403-512-8202 or email admin@BraveheartResources.com.

For Investor Relations, contact Manish Grigo, Director, Corporate Development, at 416-569-3292 or email mgrigo@BraveHeartResources.com.

I’m Cassandra Bolinski for InvestmentPitch Media