Braveheart Receives Decision from BC Environmental Assessment Office Regarding Bull River Mine Project

Calgary, Alberta--(Newsfile Corp. - October 6, 2022) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") is pleased to announce that the Company has been notified by the British Columbia Environmental Assessment Office ("EAO") that the Bull River Mine Project (the "Project") near Cranbrook, BC has been designated as non-reviewable under the Environmental Assessment Act (2018).

On March 21, 2022, the EAO received written notification from the Ktunaxa Nation Council ('KNC") requesting that Braveheart's proposed amendments to its Mines Act permit M-33 and its Environmental Management Act permit PE-16034, to facilitate a restart of the Project, be designated as reviewable under Section 11 of the Environmental Assessment Act (2018) (the "Act"). Further to a thorough and extensive review, the Chief Executive Assessment Officer of the EAO determined that the Project has substantially started and that it is not an eligible project as outlined in Section 11(1) of the Act. The evaluation of the request and the reasons for the decision by the Chief Executive Assessment Officer is posted publicly and can be viewed at EAO Project Information Centre. The Chief Executive Assessment Officer further determined that the potential effects of the Project can be appropriately managed through the permit amendment process under the Mines Act and Environmental Act which will include consultation with KNC and the Shuswap Indian Band, and that it would not be in the public interest to designate the Project as reviewable.

Ian Berzins, President and CEO, commented, "We are extremely pleased with this determination by the EAO. The Project is already subject to a robust and comprehensive regulatory process under the Mines Act and Environmental Management Act that includes consultation with Indigenous nations. This decision allows the Major Mines Office of the Ministry of Energy, Mines and Low Carbon Innovation ("EMLI") and Mining Operations of the Ministry of Environmental and Climate Change Strategies ("ENV") to renew the process of reviewing the Company's proposed amendments to its existing permits, which for the last six months has been held in abeyance pending a determination."

About Braveheart Resources Inc.

Braveheart is a mining company primarily focused on two near-term copper production assets in Canada. Braveheart's main asset is the 100% owned Bull River Mine project (>135MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart's latest acquisition is the 100% owned Thierry Mine project (>1,300MM lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.

Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@braveheartresources.com
Website: www.braveheartresources.com

Caution Regarding Forward-Looking Information

This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.

Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139724

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