DGAP-News: Brazil Resources Provides Corporate Update
(firmenpresse) - DGAP-News: Brazil Resources Inc. / Key word(s): Miscellaneous
Brazil Resources Provides Corporate Update
18.10.2013 / 14:32
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Brazil Resources Provides Corporate Update
FOR IMMEDIATE RELEASE
Vancouver, British Columbia - October 18, 2013 - Brazil Resources Inc.
(TSX-V: BRI; OTCQX: BRIZF) (the 'Company' or 'Brazil Resources') announces
that it has amended the share purchase agreement dated July 10, 2012
between Brazil Resources and Luna Gold Corp. pursuant to which the Company
acquired a 100% interest in the Cachoeira gold project. The payment of
$300,000, originally due 12 months after closing, will now be due 24 months
after closing, being September 24, 2014, or earlier, if specified financial
milestones are achieved prior thereto.
The Company also announces that it has, through a wholly owned Brazilian
subsidiary, satisfied the conditions to exercise its initial option to
acquire a 51% interest (the 'Initial Option') in the MontesÁureos and
Trinta Projects. Brazil Resources satisfied the conditions of the Initial
Option by making a cash payment of US$25,000, issuing an aggregate of
325,000 common shares of the Company over the past three years and
incurring aggregate exploration expenditures of at least US$1,750,000 over
the past three years. The Company has the option to acquire an additional
46% interest in the MontesÁureos and Trinta Projects pursuant to the terms
of the underlying agreement.
About Brazil Resources Inc.
Brazil Resources is a public mineral exploration company with a focus on
the acquisition and development of projects in emerging producing gold
districts in Brazil, Paraguay and other parts of South America. Currently,
Brazil Resources is advancing its principal exploration property, the
Cachoeira Project, as well as its MontesÁureos, and Trinta Gold Projects
located in the Gurupi Gold Belt in the state of Maranhão, northeastern
Brazil, and its Artulandia Copper-Gold Project in central Brazil.
For additional information, please contact:
Stephen Swatton or Patrick Obara
Telephone: (855) 630-1001
E-mail: info(at)brazilresources.com
Forward Looking Statements?This document contains certain forward-looking statements that reflect the
current views and/or expectations of Brazil Resources with respect to its
performance, business and future events, including statements regarding the
Company's beliefs regarding future exploration and expectations regarding
theCachoeira, MontesÁureos and Trinta and Artulandia Projects.
Forward-looking statements are based on the then-current expectations,
beliefs, assumptions, estimates and forecasts about the business and the
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 granted all required licences in respect
of the Cachoeira, MontesÁureos and Trinta and Artulandia Projects; and
that financing will be available if and when needed on reasonable terms.
Investors are cautioned that all forward-looking statements involve risks
and uncertainties, including that: the Company has a limited operating
history; resources exploration and development is a speculative business;
the Company may lose or abandon its property interests; the Company's
properties are in the exploration stage and without known bodies of
commercial ore; the Company may not be able to obtain all necessary permits
and approvals on any of its properties; environmental laws and regulations
may become more onerous; 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; and other factors listed in the
Company's public filings, including its Management's Discussion and
Analysis for the year ended November 30, 2012. These risks, as well as
others, including those set forth in the Company's filings with Canadian
securities regulators, could cause actual results and events to vary
significantly. Accordingly, readers should not place undue reliance on
forward-looking statements and information. 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 obligation 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
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235248 18.10.2013
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Datum: 18.10.2013 - 14:32 Uhr
Sprache: Deutsch
News-ID 307104
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Kategorie:
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