DGAP-News: Brazil Resources Inc. Acquires the Maua Project in the Gurupi Gold Belt
(firmenpresse) - DGAP-News: Brazil Resources Inc. / Key word(s): Miscellaneous
Brazil Resources Inc. Acquires the Maua Project in the Gurupi Gold
Belt
15.09.2011 / 15:11
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Brazil Resources Inc. Acquires the Maua Project in the Gurupi Gold Belt
- Company Now Controls More Than 50,000 Acres (200 Square Km) in One of
Brazil's Most Rapidly Emerging Gold Belts
- New Project Is Highly Prospective With Known Gold Occurrences and
Historical Artisanal Gold Production
Vancouver, British Columbia - September 15, 2011 - Brazil Resources Inc.
(the 'Company' or 'Brazil Resources') (TSX-V: BRI) is pleased to announce
the acquisition of the 24,678 acre Maua Project in the emerging Gurupi Gold
Belt located in Maranhão State, Brazil. The project is located
approximately 2.5 km. west of the Company's MontesÁureos Gold Project.
This is the Company's third acquisition in the Gurupi Gold Belt, and
increases the total land package here to 53,263 acres.
Most known gold mineralization within the Gurupi Gold Belt is situated
along the Cipoeiro, Chega Tudo or Sequeiro Trends as shown in the map
below. Recognized gold occurrences and historical production on the Maua
property are located on-trend with other gold occurrences and artisanal
workings along the Sequeiro Trend.
The project area is being acquired by the Company through an application by
an agent to the Brazilian National Department of Mining Production (the
DNPM) for a new exploration license, which has been approved and is pending
formal publication. The Company's plan at Maua is to perform detailed soil
sampling, trenching and auger drilling, starting with historical artisanal
production sites, with the objective of delineating initial drill targets.
The initial $120,000 program, to commence immediately, includes geological
mapping and geochemical reconnaissance sampling over the entire property,
with detailed soil sampling over a selected area.
President and CEO Stephen Swatton stated, 'The acquisition of the Maua
Project is exciting for the geological team here, and advances the
Company's strategy of exploring a number of highly prospective properties
located in emerging gold belts, each with major historical and/or current
artisanal production. We continue to actively evaluate acquisition terms
for both early-stage and advanced projects as part of our growth plan.'
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 the annual land fees.
About the Gurupi Gold Belt
The Gurupi Gold Belt is an underexplored and emerging geological region
that hosts several large gold deposits. At present, recognized mining
companies including Kinross Gold, Jaguar Mining and Luna Gold are active
with exploration programs, and are putting mines into production. The
assets of these miners are located within 20 km of the Company's MontesÁureos, Trinta and Maua Projects. The Gurupi Gold Belt is part of the same
geological provenance as the West African Shield which has produced more
than 30 million ounces of gold.
Paulo Pereira, a member of the Company's technical team, has supervised the
preparation of the technical information contained in thisnews release.
Mr. Pereira holds a Bachelor degree in Geology from Universidad 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 mineral exploration company with a focus on the
acquisition, exploration and development of mineral properties in the
emerging gold districts of Brazil and in additional prolific areas of South
America. Currently, the Company's principal property is the MontesÁureos
Gold Project, located within the Gurupi Gold Belt in the state of Maranhão,
Brazil.
For additional information, please contact:
Patrick Obara
Telephone: (855) 630 1001
info(at)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 MontesÁureos, Trinta and Maua projects
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's ability to obtain required licenses and 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
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139469 15.09.2011
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