Minas Gerais State Government Commits to Financially Support Amazon's Cerrado Verde Project

Amazon Mining Holding Plc (TSX VENTURE:AMZ) ("Amazon" or the "Company") is
pleased to announce that the Minas Gerais State government ("the State") has
signed a memorandum of understanding ("Memorandum") to provide Amazon with
support in terms of potential financing for working capital and fixed
investment, with funds administered by the development bank of Minas Gerais
(BDMG). The stated objective of the Memorandum is to enable the implementation,
by Amazon, of an industrial unit and the installation of a distribution centre
located in the State of Minas Gerais destined for the manufacturing and
commercialization of ThermoPotash, Potassium Chloride and Potassium Sulfate. The
Memorandum was signed by a collaboration of key personnel interested in the
development of the Cerrado Verde Potash Project, specifically; Minas Gerais
State Governor Antonio Augusto Junho Anastasia, Dorothea Fonseca Furquim
Werneck, Secretary of the State Department for Economic Development, Leonardo
Mauricio Colombini Lima, Secretary of the State Treasury Department, Jose
Frederico Alvares, President of the Integrated Development Institute of Minas
Gerais ("INDI"), and Ricardo Murari Bandeira, Regulatory Manager of Amazon
Mining. 


The State, through INDI, shall provide support and assistance to Amazon during
the implementation and operation phases of the project, particularly with regard
to assisting with financing requirements and the expedition of permits and
licenses. The terms of the special tax treatment (see Amazon release dated
December 22, 2010), including the suspension of ICMS taxes on purchases destined
for the construction of the Cerrado Verde Project are also outlined in the
Memorandum. 


The consolidation of the chemical industry sector is of great importance for the
development of productive activities that add value and technology to the State,
as evidenced by its commitment to Amazon. The Memorandum confirms that Cerrado
Verde is within the parameters of the State's primary development goals, namely;
increasing employment and reducing regional and social inequalities, and seeking
to form strategic partnerships with the private sector aiming at the industrial
and commercial development, internalization of industry and environmentally
integrated policy. In respect to social development and to the economy of the
State of Minas Gerais, the benefits granted to Amazon provide an increase in
direct and indirect employment opportunities as well as in revenue.


Commenting, Cristiano Veloso, President and CEO said, "The exact terms and means
of the State financial involvement at Cerrado Verde will be determined as we
move forward with the project. This Memorandum represents a unique
acknowledgement by the government of Minas Gerais of the incredible benefit
domestic potash production will bring to the agricultural sector in Brazil. We
gladly welcome the participation of the State in building our innovative potash
operation." 


Other Matters

Amazon will be hosting its Annual General Meeting on Tuesday, April 12 at
10:00am EST, at the offices of Fasken Martineau LLP at 333 Bay Street, Suite
2400, Toronto, ON M5H 2T6. All shareholders are invited to attend.


Subsequent to approval from the TSX Venture Exchange, Amazon has increased the
exercise price to $0.45 on stock options previously granted between November
2008 to June 2009 to five consultants who were each granted 50,000 options to
purchase ordinary shares of Amazon. Four of the consultants received stock
option grants exercisable at $0.35 while one of the consultants received a stock
option grant exercisable at $0.30. Amazon has increased the exercise price to be
above the par value of the ordinary shares. 


About Amazon 

Amazon Mining is a mineral exploration and development company founded by
Brazilians in 2005. The company is focused on the development of the Cerrado
Verde project. Cerrado Verde is a source of a potash rich rock from which Amazon
plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer
product. Amazon Mining is a UK public company with shares listed on the Toronto
Stock Exchange since November 2007.


On behalf of the Board of Directors of Amazon Mining Holding Plc

Jed Richardson, Vice President of Corporate Development

Cautionary Language and Forward Looking Statements 

THIS PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE
BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR
OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS,
STATEMENTS REGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF
MINERAL RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION
EXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR
ADDITIONAL CAPITAL, GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL
RISKS, RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF
INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY
THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT" OR "IS
EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR "BELIEVES", "INTENDS",
"FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR VARIATIONS OF SUCH WORDS OR
PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD",
"WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD LOOKING
STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS
WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY
TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS
EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT
FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND
FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS.
ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING
STATEMENTS. 


Readers are cautioned not to rely solely on the summary of such information
contained in this release and are directed to the complete set of drill results
posted on Amazon's website (www.amazonplc.com) and filed on SEDAR
(www.sedar.com) and any future amendments to such. Readers are also directed to
the cautionary notices and disclaimers contained herein.
Azucar Minerals (TSXV:AMZ)
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