The Brave's Australian Ice Hockey League season is over after conceding the match-deciding goal with a minute on the clock in a heartbreaking 4-3 semi-final loss to the Newcastle North Stars at the Melbourne Ice House on Saturday.

With the scores 3-3, Brave goal-tender Aleksi Toivonen dropped the puck close to his goal to allow the North Stars to capitalise.

Unice said there was no way the Brave should have lost the game when they led 3-0 midway through the second period.

"It's unacceptable," Unice said.

"I don't know if we were tired, if we were taking it for granted.

"We can sit here and name excuses for hours, but at the end of the day, we weren't good enough in the third period.

"We had too many passengers, too many guys standing around, sitting back and waiting for somebody to take control of the game and be that difference."

Unice said the Brave had to raise its expectations and couldn't be happy with simply reaching the play-offs.

"I've never looked at losing as a success," Unice said.

"I've always been a part of championship teams, I know what to accept and I know what championship teams are made of.

"I'm not here to make finals, I'm here to win, period."

It was the Brave's second straight finals appearance from as many seasons in the league.

The Brave began brilliantly with Kelly Geoffrey opening the scoring.

Stephen Blunden doubled the Brave's advantage to put the underdogs up 2-0 at the end of the first period before he scored his second soon after the break.

The North Stars hit back to reduce the deficit to 3-1 in the second period.

If the nerves weren't setting in at that stage, they were when the North Stars scored again to make it a one-goal game with just over 10 minutes on the clock.

The minor premiers completed their comeback to level the scores with five minutes left.