RE: FinancingI contacted BVA about my displeasure with the cheap financing and received the following reply from Anil Mall at Investor Relations: Dear Wayne, Thanks for your interest in Bravada Gold Corp. and for taking the time to contact us. Bravada’s management has significant holdings in the company and share your concerns with the price. However, this is the market we have to operate in and there is nothing to do but continue to move forward. Work on Wind Mountain’s updated Preliminary Economic Assessment is very much the focus right now. The purpose of this small financing is to fund the costs associated with completion of the PEA. There is a lead order of $400,000 and the balance will fill in quickly. The updated PEA is planned for release in early 2012 and is expected to include substantial increases in project economics in terms of both project size and profitability. Work now underway in this regard includes supporting geological modeling, metallurgical, and archaeological studies as well as the PEA itself. As you may have seen in recent releases we have successfully expanded mineralization to the north of the proposed pit, as well as adding ounces within the pit. This expansion, together with a much high gold price in financial analyses, is expected to add greatly to our value, and the improved production potential should gain favor in the markets. In addition to the Wind Mountain mine, Bravada has a second past producer, the Quito mine, that we plan to return to production after Wind Mountain, as well as numerous other quality Nevada projects. I hope this helps and if you have any questions, please do not hesitate to contact me or Liana Shahinian, VP Corporate Development, at 604-641-2773 or via email at liana@mnxltd.com. Sincerely, Anil MallInvestor Relations604.641.2774 T | Manex Resource Group604.688.4670 F | 1100-1199 West Hastings Street1.888.456.1112 | Vancouver, BC V6E 3TSwww.manexresourcegroup.com