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Press release from Marketwire

Braeval Mining Corporation Files Technical Reports on Mexico and Peru Projects and Reports Recent Drilling Results at Snow Mine

Monday, February 25, 2013

Braeval Mining Corporation Files Technical Reports on Mexico and Peru Projects and Reports Recent Drilling Results at Snow Mine12:15 EST Monday, February 25, 2013TORONTO, ONTARIO--(Marketwire - Feb. 25, 2013) -Editors Note: There is an image associated with this press release. Braeval Mining Corporation (TSX:BVL) ("Braeval Mining" or the "Company") is pleased to advise that it has today filed technical reports regarding the Guaynopa project in Mexico and Lithocaps project in Peru on www.sedar.com pursuant to National Instrument NI-43-101 - Standards of Disclosure for Mineral Projects. Braeval is also pleased to report information obtained from tunnel sampling and drilling work completed at its Snow Mine project. Guaynopa Gold Skarn ProjectThe Guaynopa gold skarn project is located in the State of Chihuahua within the Sierra Madre Occidental precious metals mineral province of northern Mexico. The Corporation has optioned six mining concessions with a total area of 1,110.19 hectares in a region with known historic copper-gold workings.Gold-bearing skarns at Guaynopa are observed in surface and old workings as tabular bodies attaining widths ranging from 1 to 10 meters and lengths from 2 to 50 meters. The skarn bodies are composed of massive magnetite with garnet and pyroxene. An overprinting hornblende-chlorite-calcite event contains 1% to 5% disseminated mixed sulphides (pyrite > chalcopyrite >> pyrrhotite + galena + sphalerite). The observed assemblage is typical of oxidized magnetite-gold skarns. The magnetite-rich bodies can occur as vertical fault-controlled feeders, as steeply dipping bodies along contact zones with the intrusive rocks, as gently dipping bodies on the bottom or the top of diorite sills, or on the top of the main diorite stock. Many prospects are known to occur along the NW flank of the intrusive stock.Rock sample analyses indicate that gold mineralization is restricted to the magnetite > garnet-pyroxene-amphibole skarn assemblage that contains 1% to 5% disseminated sulphides (pyrite>chalcopyrite>>pyrrhotite), with gold values exceeding 2.5 g/t being accompanied by anomalous Cu-As-Mo-Bi-Ag contents. The best gold showings are located along the northern and western contacts between the diorite stock and its sedimentary host rocks. Other mineral occurrences were observed in veins, cutting the diorite stock at La Victoria prospect that is interpreted as an area with sub-horizontal sill bodies with potential to host high grade manto-type mineralization. Magnetic and IP geophysical surveys were completed on the Guaynopa project.The geophysical grid consisted of a set of nineteen N/S lines spaced at 100 meters with an average line length of 3km. The magnetic survey totaled 51 line-km and the IP survey totaled 19.8 line-km.The Morelos and Los Filos gold skarns in Guerrero are interpreted to be analogs for the Guaynopa skarn. Braeval Mining plans to carry out a drill program at Guaynopa to test outcropping and concealed gold skarn targets.There are no mineral resource estimates at Guaynopa. Lithocaps ProjectThe Huancavelica Lithocaps Project is located in the Provinces of Huancavelica and Castrovirreyna, Department of Huancavelica, Republic of Peru. The latitude and longitude for the Arcopunco Project is 13° 2' 18"S, 75° 2' 19"W, and the Terciopelo Project is at 12° 56' 4"S, 75° 2' 26"W. Altitudes in the project are between 3,600 m and 5,298 m above mean sea level. The project is about 245 km south east of Lima. Braeval Mining owns and has optioned 35 mining concessions and applications with a total area of 23,290 hectares. The projects are in the Huachocolpa mining district which has historical and active mining for silver, lead, zinc and copper.The exploration targets in the Arcopunco and Terciopelo Projects are porphyry Cu ± Mo ± Au ± Ag deposits concealed beneath extensive zones of lithologically controlled advanced argillic alteration known as lithocaps. The lithocaps contain high sulfidation epithermal gold-silver mineralization, on which exploration by a previous company was focused, with low grade results. The lithocaps at Arcopunco and Terciopelo have been fairly deeply eroded to remove most of the stratovolcano morphology and expose higher temperature advanced argillic mineral assemblages, as well as patchy and wormy texture alteration. Quartz veinlets are present in and below the patchy texture alteration at both projects, shown in outcrop at Arcopunco and in drill core at Terciopelo. Previous drilling at Terciopelo has shown that patchy texture alteration overlies a porphyry system with phyllic and potassic alteration, thus validating the exploration model. Molybdenum is anomalous in the deep lithocap of both systems, with up to 0.037% Mo over 6.2 m at Arcopunco and 0.037% Mo over 39.4 m at Terciopelo. Braeval Mining plans to carry out programs of deep drilling in the Lithocaps Project to test the porphyry targets.There are no mineral resource estimates at the Lithocaps Project.Snow Mine ProjectThe results obtained from underground workings and the first two diamond drill holes are presented below. The location of the mine samples and drill holes is shown on Figure 1.A total of 150 rocks samples were taken in five artisanal underground mines named La Virgen, Los Barrera, Los Chuchacos, Dios Es Amor and La Nevera. The samples are channel samples varying in width from 0.2 m to 2.5 m, with an average of 0.97 m, as well as some bulk samples of mine production and one select sample. The sample values are reported in the following table.Sample NoEASTNORTHELEVATIONSAMPLE TYPELENGTH (m)WIDTH (m)Au (g/t)1021803584,888.17930,405.29864.00CHANNEL1.080.26.8461021804584,887.98930,406.35864.00CHANNEL0.260.26.9291021805584,873.65930,402.81868.00CHANNEL10.27.4751021806584,874.62930,402.69868.00CHANNEL0.70.28.6621021807584,877.09930,402.37868.00CHANNEL0.60.25.8791021808584,878.47930,402.40868.85CHANNEL1.150.217.81021809584,879.79930,402.92868.85CHANNEL1.10.260.41021810584,881.54930,405.80868.85CHANNEL0.40.238.71021811584,881.79930,404.83868.85CHANNEL1.050.26.5821021812584,882.08930,403.72868.85CHANNEL1.230.224.61021813584,884.02930,404.12868.85CHANNEL0.70.223.71021814584,885.99930,404.65868.85CHANNEL0.90.234.51021815584,887.98930,405.03867.20CHANNEL1.260.222.31021816584,889.81930,405.86868.85CHANNEL1.20.213.61021817584,895.95930,409.52868.00CHANNEL1.80.22.5741021818584,894.18930,407.54868.85CHANNEL10.264.751021820585,325.10930,357.20863.00CHANNEL0.350.2361021821585,327.97930,358.66863.00CHANNEL0.40.23.9051021823585,326.22930,358.94864.10CHANNEL0.20.26.2411021827585,316.01930,358.02866.70CHANNEL0.20.22.6531021828585,315.91930,358.19866.60CHANNEL0.380.20.0411021829585,314.53930,357.54866.70CHANNEL0.30.20.2471021831585,323.34930,357.70862.00CHANNEL0.40.20.2591021832585,323.20930,358.07861.83CHANNEL0.60.20.0331021833585,309.20930,353.10860.00CHANNEL0.360.215.71021834585,309.01930,353.41859.82CHANNEL0.250.21.371021835585,307.56930,352.88860.00CHANNEL0.350.20.2271021836585,304.85930,353.15862.00CHANNEL0.350.20.1631021837585,307.25930,354.48864.10CHANNEL0.250.20.4521021838585,314.43930,416.55865.00CHANNEL0.350.20.0151021839585,314.47930,416.20865.00CHANNEL1.80.20.4151021840585,314.62930,414.42864.94CHANNEL1.50.20.2791021841585,315.23930,409.55865.20CHANNEL1.60.21.6611021842585,315.51930,407.98865.15CHANNEL1.40.20.4921021843585,315.56930,406.59865.10CHANNEL2.50.20.9421021844585,315.78930,404.11865.01CHANNEL2.50.20.0971021845585,316.04930,401.64864.92CHANNEL1.450.20.0291021846585,316.09930,400.20864.87CHANNEL1.20.21.8411021847585,316.20930,399.01864.83CHANNEL2.30.20.6091021848585,316.32930,396.73864.75CHANNEL2.220.20.3531021849585,315.58930,393.91865.30CHANNEL0.570.20.1411021851585,315.97930,383.91864.30CHANNEL0.370.20.3081021852585,313.81930,383.83864.50CHANNEL0.50.20.5391021853585,318.27930,383.88864.30CHANNEL0.50.20.1161021854584,925.30930,413.87867.00CHANNEL1.430.231.71021856584,919.71930,413.31871.00CHANNEL0.620.224.61021857584,920.45930,412.97865.70CHANNEL0.870.21351021858584,911.34930,411.85865.00CHANNEL0.750.217.41021859584,909.16930,412.06867.00CHANNEL0.760.23.3191021861584,914.72930,412.13867.55CHANNEL0.870.222.81021862584,909.44930,413.24870.00CHANNEL0.920.22.811021864584,907.17930,413.22871.81CHANNEL0.60.24.9431021868584,924.73930,415.08875.00CHANNEL1.80.214.21021869584,923.69930,415.05875.75CHANNEL0.40.2121021870584,938.25930,412.27875.00CHANNEL0.40.247.41021872584,925.05930,409.59875.75CHANNEL0.870.215.21021873584,933.24930,410.94873.00CHANNEL0.60.230.31021874584,915.90930,409.82873.00CHANNEL0.50.20.441021875584,916.88930,409.85873.80CHANNEL0.250.2391021876584,919.60930,409.70865.00CHANNEL0.450.225.61021877584,923.86930,410.02865.50CHANNEL0.40.28.4861021878584,928.69930,411.12865.00CHANNEL0.90.223.51021879584,924.80930,414.72879.00CHANNEL1.70.216.61021880584,920.08930,413.97879.70CHANNEL1.10.269.61021881584,924.35930,412.86879.70CHANNEL1.210.212.31021882584,894.80930,408.85868.85CHANNEL0.220.226.31021883584,895.25930,407.66868.85CHANNEL0.450.264.51021887584,918.70930,412.89867.55CHANNEL1.20.211.81021888584,907.29930,412.56872.00CHANNEL0.750.20.2391021889584,922.99930,414.67875.75CHANNEL1.70.234.31021891584,924.24930,412.66875.75CHANNEL10.20.8731021892584,924.49930,413.85875.66CHANNEL10.235.41021893584,920.92930,409.34875.00CHANNEL10.21401021894584,922.54930,409.37875.75CHANNEL0.380.21011021896584,922.47930,409.74875.69CHANNEL0.970.20.1161022001585,314.65930,413.48865.00CHANNEL10.051.0981022002585,313.41930,392.49865.00CHANNEL0.70.070.5661022003585,315.73930,392.30865.00CHANNEL10.051.8391022004585,313.80930,383.16865.00CHANNEL0.70.070.1781022006585,315.53930,383.05865.00CHANNEL0.70.070.1231022007585,317.89930,382.96865.00CHANNEL0.80.070.0551022008585,319.07930,383.03865.00CHANNEL0.80.070.311022009585,321.84930,358.18864.50SELECT4.3281022010585,312.01930,355.67865.00CHANNEL0.70.070.8141022011585,347.00930,530.00869.00BULK9.361022012585,356.00930,529.00867.00BULK10.31022013585,349.00930,530.00864.00BULK11.11022014585,118.00930,419.00877.00BULK14.91022015584,968.00930,392.00881.00BULK22.61022016584,919.00930,409.00819.00BULK28.61022017584,919.00930,409.00819.00BULK381022018584,537.20928,740.48916.00CHANNEL0.80.151.2781022019584,537.39928,739.77916.00CHANNEL0.750.158.961022020584,537.66928,738.82916.00CHANNEL10.150.7381022021584,537.80928,738.27916.00CHANNEL0.60.157.631022022584,538.04928,737.30916.00CHANNEL10.255.7361022023584,538.33928,735.69916.00CHANNEL1.650.150.3931022024584,538.76928,734.11916.00CHANNEL1.650.150.3351022026584,552.06928,741.66917.00CHANNEL0.60.251.0571022027584,530.00928,795.00945.00BULK7.1841022028584,604.90928,770.29952.00CHANNEL0.70.23.0461022029584,604.61928,771.04952.00CHANNEL0.450.216.61022031585,267.00930,477.00858.00BULK5.7721022032585,226.00930,440.00867.00BULK111022033584,980.00930,399.00884.00BULK11.41022034584,996.00930,414.00887.00BULK18.31022035584,896.00930,366.00883.00BULK22.11022036584,859.00930,369.00874.00BULK12.91022037584,869.00930,376.00880.00BULK12.41022038585,312.00930,466.00867.00BULK34.91022039584,956.00930,407.00872.00BULK27.61022040584,869.00930,384.00877.00BULK63.51022041585,230.00930,430.00865.00BULK10.41022042585,342.00930,512.00854.00BULK1441022043584,972.00930,411.00881.00BULK37.11022044584,922.97930,410.58867.00CHANNEL20.159.41022045584,918.48930,412.32867.00CHANNEL20.1516.51022046584,924.15930,412.00875.00CHANNEL20.1517.61022047585,376.06930,530.90852.00CHANNEL0.40.2532.11022048585,372.57930,526.97852.00CHANNEL0.450.255.6571022051585,381.11930,537.44852.00CHANNEL0.30.1528.71022052585,387.65930,539.60853.00CHANNEL0.830.152.1061022053585,388.39930,527.49849.00CHANNEL0.60.25141022054585,398.16930,529.32847.00CHANNEL0.40.277.7251022056585,429.95930,700.99865.00CHANNEL20.050.0471022057585,431.72930,700.15865.00CHANNEL20.050.0691022058585,433.72930,699.22865.00CHANNEL20.050.0551022059585,483.49930,680.67864.50CHANNEL1.20.070.2481022060585,369.29930,524.45850.00CHANNEL20.10.11022061585,370.62930,523.11850.00CHANNEL1.80.18.4711022062585,371.87930,521.96850.00CHANNEL1.050.1512.41022063585,373.03930,520.94851.00CHANNEL1.50.10.8441022064585,374.17930,519.87851.00CHANNEL1.60.10.4731022065585,375.04930,518.84850.00CHANNEL1.350.10.2881022066585,375.68930,518.08850.00CHANNEL10.10.4091022067585,377.22930,516.80850.00CHANNEL20.10.4771022068585,375.69930,522.63849.50CHANNEL1.20.13.4121022069584,873.85930,402.80868.00CHANNEL10.123.91022070584,877.14930,402.27868.00CHANNEL1.20.124.31022071584,879.60930,402.95869.00CHANNEL1.10.121.51022072584,879.89930,405.42869.00CHANNEL1.30.188.41022073584,887.49930,404.97868.00CHANNEL1.40.120.651022076584,881.75930,406.14869.00CHANNEL0.50.15391022077584,882.40930,405.74869.00CHANNEL10.116.51022078584,894.61930,407.73868.00CHANNEL20.11.1461022079584,894.84930,409.45868.00SELECT12.851022082585,390.76930,528.12848.00CHANNEL0.60.2101022083585,391.39930,524.71847.00CHANNEL0.40.1811.11022084585,393.11930,526.53847.00CHANNEL0.50.250.51022085585,395.60930,528.45847.00CHANNEL0.650.151.443Results for a total of 61 core samples from diamond drill holes LNDDH010 and LNDDH011 have been received. The highlights are length-weighted average grades of 17.5 g/t gold over 2.35 m in hole LNDDH011, from 87.4 to 89.75 m, and 3.1 g/t gold over 0.9 m in hole LNDDH010 from 145.0 to 145.9 m. The holes were drilled at azimuths of 349° and 345° and inclinations of -55° and -46° respectively, with total lengths of 263.4 m and 149.7 m. The holes were drilled across the vein structures but the intersection widths do not necessarily represent the true width of the veins. The sample assays are reported in the following table:Hole No.Sample NoFrom (m)To (m)Length (m)Au (g/t)LNDDH01070100620128.75130.61.850.005LNDDH01070100621130.6132.51.90<0.005LNDDH01070100622132.5135.12.60<0.005LNDDH01070100623135.1135.80.70<0.005LNDDH01070100626135.8136.50.70<0.005LNDDH01070100627136.5137.40.90<0.005LNDDH01070100628137.4139.21.80<0.005LNDDH01070100629139.2140.41.20<0.005LNDDH01070100631140.4141.41.00<0.005LNDDH01070100632141.4142.41.00<0.005LNDDH01070100633142.4143.41.000.007LNDDH01070100634143.4143.60.200.23LNDDH01070100635143.6144.40.800.834LNDDH01070100636144.4144.70.300.331LNDDH01070100637144.71450.300.495LNDDH01070100639145145.30.301.452LNDDH01070100640145.3145.60.300.876LNDDH01070100642145.6145.90.306.854LNDDH01070100644145.9146.20.300.145LNDDH01070100645146.2147.21.000.0175LNDDH01070100647147.2149.22.000.02LNDDH01070100648149.2151.22.000.039LNDDH01070100651151.2153.22.00<0.005LNDDH01070100652153.2155.22.00<0.005LNDDH01070100653237.9238.30.40<0.005LNDDH01070100654254.1254.50.400.016LNDDH01070100656254.5254.80.300.006LNDDH0117010065773.475.42.00<0.005LNDDH0117010065875.477.42.00<0.005LNDDH0117010065977.479.42.00<0.005LNDDH0117010066179.480.41.00<0.005LNDDH0117010066280.481.41.00<0.005LNDDH0117010066381.482.41.00<0.005LNDDH0117010066482.483.41.00<0.005LNDDH0117010066683.483.70.300.007LNDDH0117010066783.784.81.100.009LNDDH0117010066884.885.20.400.03LNDDH0117010066985.285.70.500.006LNDDH0117010067185.786.40.70<0.005LNDDH0117010067286.486.70.300.006LNDDH0117010067386.787.40.70<0.005LNDDH0117010067487.488.51.108.98LNDDH0117010067688.589.10.6036.4LNDDH0117010067889.189.750.6514.6LNDDH0117010067989.75900.250.547LNDDH011701006819090.950.950.015LNDDH0117010068290.95921.050.017LNDDH011701006839292.850.850.006LNDDH0117010068492.8593.250.400.132LNDDH0117010068593.2593.90.650.022LNDDH0117010068693.994.80.90<0.005LNDDH0117010068794.895.91.10<0.005LNDDH0117010068895.997.561.66<0.005LNDDH0117010068997.56980.440.0225LNDDH0117010069198991.000.014LNDDH01170100692991001.00<0.005LNDDH011701006931001022.00<0.005LNDDH011701006941021042.00<0.005LNDDH01170100696138.8139.10.300.015LNDDH01170100697139.1139.40.300.022LNDDH01170100698144144.450.450.104Quality Assurance and Quality ControlThe underground and drill core samples from the Snow Mine were prepared and assayed for gold by Activation Laboratories Ltd., which is independent of the Company, at their laboratory in Colombia. Gold was assayed by fire assay with atomic absorption spectrophotometer ("AAS") finish. Samples over 10 g/t gold were re-assayed by fire assay with gravimetric finish. A multielement package was analyzed by total acid digestion and inductively coupled plasma mass spectrometer (ICP-MS). Blank, standard and duplicate samples were routinely inserted for quality assurance and quality control. In the case of duplicate analyses of a sample, the average of both analyses was used as the final reported value. Gold grades were not capped for calculation of length-weighted averages. Qualified PersonThe Technical Reports on the Guaynopa and Lithocaps Projects were authored by Dr. Stewart D. Redwood, Senior Consulting Geologist to the Company, who is an independent qualified person as defined by National Instrument 43-101 - Standards of Disclosure of Mineral Projects. Dr. Redwood has reviewed this press release to ensure that it fairly and accurately represents the information in the Technical Reports that supports the disclosures set out in this press release.Dr. Redwood has also prepared or reviewed the preparation of the scientific and technical information in this press release in respect of the results from the Snow Mine Project. Dr. Redwood verified and approved the data disclosed in this news release, including the sampling, analytical and test data underlying the information contained in this news release. Verification included a review of the quality assurance and quality control samples, and review of the applicable assay databases and assay certificates.For further information on the Company's properties please see the reports as listed below on the Company's website or on www.sedar.com:Guaynopa Gold Skarn ProjectNI 43-101 Technical Report for the Guaynopa Gold Skarn Project, State of Chihuahua, Mexico, February 18, 2013Lithocaps ProjectNI 43-101 Technical Report for the Huancavelica Lithocaps Project, Department of Huancavelica, Peru, January 31, 2013Snow MineTechnical Report on the Snow Mine Property, Department of Bolivar, Colombia, dated December 5, 2012About Braeval Mining CorporationBraeval Mining is a junior mineral exploration company focused on the exploration and development of precious metals resource properties in South and Central America and Mexico. The Company holds options to acquire an interest in four adjacent mineral titles that comprise the Snow Mine Project located in Colombia. Braeval Mining proposes to explore the Snow Mine Project for precious metal deposits including gold, silver and copper, and holds or has applied for other exploration property interests in Mexico, Peru, Honduras and Nicaragua.CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATIONThis news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws, which are based on expectations, estimates and projections as of the date of this news release. This forward-looking information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management's expectations with respect to, among other things, the generation of revenues by the Company, the timing and amount of funding required to execute the Company's exploration, development and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals, the success of exploration, development and mining activities, the geology of the Company's properties, environmental risks, the availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices thereof, progress in development of mineral properties, the Company's ability to raise funding privately or on a public market in the future, the Company's future growth, results of operations, performance, and business prospects and opportunities. Wherever possible, words such as "anticipate", "believe", "expect", "intend", "may" and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to, fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or economic developments in Canada, Mexico, Colombia, Peru, Honduras, Nicaragua or other countries in which the Company does business or may carry on business in the future, operational or technical difficulties in connection with exploration or development activities, employee relations, the speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and should be considered carefully. Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Prospective investors should not place undue reliance on any forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.To view the image that accompanies this press release, please visit the following link: http://www.marketwire.com/library/20130225-bvlmap1LG.jpg FOR FURTHER INFORMATION PLEASE CONTACT: No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release. Contact Information: Braeval Mining CorporationJose VizquerraPresident & CEO416-848-9504jvizquerra@braevalmining.com