"According to indications we have, this mass grave could contain the remains of between 100 and 147 victims," said Lejla Cengic, spokeswoman of Bosnia's Institute for Missing People, quoted by the Fena news agency.
The grave is located in the region of Donji Vakuf, in central Bosnia, she added.
"We believe that the remains (in the grave) are of Muslim civilians killed at the start of the (1992-1995) war in the region of Prijedor," Cengic said.
Some 10,000 people are still reported missing from the war.
Discoveries of new mass graves in the Balkan country have become rare as time passes.
But in late 2013 forensic experts discovered a large grave at a former mine near Prijedor, in northwestern Bosnia. The remains of about 430 victims were exhumed from the grave.
The war between Bosnia's Croats, Muslims and Serbs claimed some 100,000 lives.
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