Brazil Resources Inc. Files NI 43-101 Technical Reports for its Recently Acquired São Jorge, Boa Vista and Surubim Gold Projects
February 26, 2014
Vancouver, British Columbia – February 26, 2014 – Brazil Resources Inc. (the “Company” or “Brazil Resources”) (TSX-V: BRI; OTCQX: BRIZF) is pleased to announce that it has filed National Instrument 43-101 (“NI 43-101”) technical reports for each of its São Jorge, Boa Vista and Surubim gold projects located in Pará State, Brazil. The projects were acquired by Brazil Resources through its acquisition of Brazilian Gold Corporation (“BGC”) in November 2013. The technical reports confirm the historical estimates completed by BGC as disclosed by the Company in its press release dated November 22, 2013.
The technical report on the São Jorge Gold Project dated effective November 22, 2013 is titled “São Jorge Gold Project, Pará State, Brazil. Independent Technical Report on Mineral Resources”; the technical report on the Boa Vista Gold Project dated effective November 22, 2013 is titled “Technical Report, Boa Vista Gold Project and Resource Estimate on the VG1 Prospect, Tapajós Area, Para State, Northern Brazil”; and the technical report on the Surubim Gold Project dated effective November 22, 2013 is titled “Technical Report, Rio Novo Gold Project and Resource Estimate on the Jau Prospect, Tapajós Area, Para State, Northern Brazil” (collectively, the “Technical Reports”). There are no material differences between the results announced in the Company’s January 21, 2014 press release and the results contained in the final Technical Reports. The Technical Reports also provide additional information on the projects’ histories, technical estimates and regional geology.
The Technical Reports are authorized by independent qualified persons and are available under the Company’s SEDAR profile at www.sedar.com.
Investor Relations Update
The Company is also pleased to announce that it has extended the previously announced consulting agreement between the Company and Max Porterfield (the “Porterfield Agreement”) until December 22, 2015, and Mr. Porterfield will continue to be responsible for the Company's day-to-day investor relations activities, including providing investor relations services to the Company’s retail shareholders.
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 Cachoeira and São Jorge Gold Projects located in the State of Pará, northeastern Brazil.
Paulo Pereira, Brazil Resources' Vice President of Exploration has reviewed and approved the technical information contained in this news release. Mr. Pereira holds a Bachelor degree in Geology from Universidade do Amazonas in Brazil, is a qualified person as defined in NI 43-101 and is a member of the Association of Professional Geoscientists of Ontario.
For additional information, please contact:
Brazil Resources Inc.
Stephen Swatton, Chief Executive Officer
Patrick Obara, Chief Financial Officer
Telephone: (855) 630-1001
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 business and future events. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which Brazil Resources operates. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the uncertainties respecting historical resource estimates, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with Brazil Resources' expectations, accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, commodity price fluctuations, regulatory restrictions, including environmental regulatory restrictions, or any failure to integrate acquired companies and projects into the Company's existing business as planned. These risks, as well as others, including those set forth in Brazil Resources' 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. Brazil Resources 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.