What I don’t get, is that even if such a bracelet DID belong to a Mormon (which I personally doubt since it has so much Christian symbology), WHY are they acting like they found evidence of something earth-shattering? If the Mormon regiment was historical fact, what’s the big deal?
Trying to sell papers I guess. There have been books written about this and pension applications in government archives. Even other artifacts exist:

But maybe if it's your own history, these digs are real news.
FWIW, any faith community is bound to produce artifacts that may not necessarily correspond to its theological orthodoxy, so I wouldn't discount this as a Mormon artifact.