Vancouver, British Columbia -
Brazil Resources Inc. (the 'Company' or
'Brazil Resources') (TSX-V: BRI, Frankfurt: BSR) is pleased to announce it
has staked 247,000 acres covering the Pireneus region in Goias State,
Brazil. The project area is located approximately 150 km west of Brasilia
and contains several occurrences of historic artisanal gold mining
operations.
After completing a preliminary review of available exploration data and
examining neighbouring projects, the Company's geological team is
encouraged by the potential of the new project area. Goias State is an
emerging gold-producing district in Brazil with increasing production from
the Kinross-Anglogold Ashanti Crixas Mine and Yamana Gold's Chapada Mine,
and total qualified gold resources of more than 7 million ounces. The
Company has identified areas of initial interest based on geophysical
surveys and regional geochemical sampling. A regional exploration program
is scheduled to begin immediately upon obtaining the requisite exploration
license, which will include mapping, stream sediment sampling, soil
sampling and geophysical reconnaissance on these areas.
President and CEO Stephen Swatton stated, 'Today's announcement is a
significant development in realizing our goals to establish a diversified
project portfolio throughout Brazil by adding this district-sized land
package in one of Brazil's most prominent mining jurisdictions. We continue
to be excited by the potential of our exploration activities in the Gurupi
Belt, including our pending drilling program at Montes Áureos, which is
currently our primary project.'
The staked area is being acquired by the Company through an application to
the Brazilian National Department of Mining Production for a new
exploration license, which has priority and is pending approval. The
initial term of the exploration license is three years from the date of
official publication. Under the terms of the license, in addition to its
exploration programs and other requirements under the license and
applicable law, the Company will be responsible for annual land fees.
The Company is also pleased to announce that it has appointed Paulo Pereira
as Vice President-Exploration. Mr. Pereira has been serving as a member of
the Company's technical team, and has been instrumental thus far in the
Company's exploration and acquisition strategy in Brazil. For his full bio,
and the bio of the other members of the technical team, please read the
Company's release dated May 16, 2011, available on the Company's website at
www.brazilresources.com.
Mr. Pereira supervised the preparation of the technical information
contained in this news release. He holds a Bachelor degree in Geology from
Universidade do Amazonas in Brazil, is a qualified person as defined in
National Instrument 43-101 and is a member of the Association of
Professional Geoscientists of Ontario.
About
Brazil Resources Inc.Brazil Resources is a newly public mineral exploration company with a focus
on the acquisition and development of projects in emerging producing gold
districts in Brazil and other parts of South America. Currently, the
Company is advancing its Montes Áureos, Trinta and Maua Gold Projects
located in the Gurupi Gold Belt in the state of Maranhão, northeastern
Brazil. Brazil Resources is also seeking to acquire and develop additional
gold properties within Brazil and in additional emerging gold districts in
South America.
For additional information, please contact:
Patrick Obara
Telephone: +1 (855) 630 1001
info@brazilresources.com
FORWARD LOOKING STATEMENTS
This news release contains certain forward-looking statements that reflect
the current views and/or expectations of the Company with respect to its
performance, business and future events, including statements regarding the
Company's plans in respect of its projects, including the newly staked
project area in the Pireneus Region of Goias State, Brazil, and its future
acquisition strategy. Forward-looking statements are based on the
then-current expectations, beliefs, assumptions, estimates and forecasts
about the business and the industry and markets in which the Company
operates, including that: the current price of and demand for minerals
being targeted by the Company will be sustained or will improve; the
Company's current exploration programs and objectives can be achieved; the
Company will be able to obtain required exploration licenses and other
permits; general business and economic conditions will not change in a
material adverse manner; financing will be available if and when needed on
reasonable terms; the Company will not experience any material accident;
and the Company will be able to identify and acquire additional mineral
interests on reasonable terms or at all. Forward-looking statements are
not guarantees of future performance and involve risks, uncertainties and
assumptions which are difficult to predict. Investors are cautioned that
all forward-looking statements involve risks and uncertainties, including:
that the Company has a limited operating history; that resource exploration
and development is a speculative business; that the Company may lose or
abandon its property interests or may fail to receive necessary licenses
and permits; that the Company's properties are in the exploration stage and
are without known bodies of commercial ore; that the Company may not be
able to obtain all necessary permits and approvals on any of its
properties; that environmental laws and regulations may become more
onerous; that the Company may not be able to raise additional funds when
necessary; potential defects in title to the Company's properties;
fluctuations in currency exchange rates; fluctuating prices of commodities;
operating hazards and risks; competition; potential inability to find
suitable acquisition opportunities and/or complete the same; and other
risks and uncertainties listed in the Company's public filings. These
risks, as well as others, could cause actual results and events to vary
significantly. Accordingly, readers should not place undue reliance on
forward-looking statements and information, which are qualified in their
entirety by this cautionary statement. There can be no assurance that
forward-looking information, or the material factors or assumptions used to
develop such forward looking information, will prove to be accurate. The
Company does not undertake any obligations to release publicly any
revisions for updating any voluntary forward-looking statements, except as
required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
End of Corporate News
Unternehmen:
Brazil Resources Inc. - ISIN: CA1058651094
