VANCOUVER, June 22, 2012 /PRNewswire/ - Brazil Resources
Inc. (the "Company" or "Brazil Resources") (TSX-V: BRI; OTCQX:
BRIZF) is pleased to announce the appointments of Victor Jamarillo, P.Geo., as Technical Director
and Paulo Espellet, as Senior Geologist to its technical team.
Victor Jaramillo
is an exploration and mining geologist with over 30 years of
professional experience. He has worked for St. Joe Minerals
International, the Madrigal Mining Company in Peru, Newmont Mining Corp in Chile, Gulf International Minerals in
Canada, Britannia Gold
Corporation, Brazilian Goldfields Ltd., Andean American Mining
Corp. and International PBX Ventures, among several other junior
and mid-sized Canadian companies. Mr. Jaramillo has been directly
involved in several significant mineral discoveries, including the
Las Lomas porphyry gold/copper
deposit in Peru, the Langosta
porphyry gold/copper deposit in Mexico and the Marta Copper-Moly Porphyry in
Chile. He prepared the first
resource estimate for the Santa
Rosa gold property in Peru.
Mr. Jaramillo has acted as VP Exploration, Exploration Manager,
Project Manager and Consultant for diverse mining companies.
Mr. Jaramillo obtained a Master's degree in
Mineral Exploration from McGill
University in 1983 and a B.Sc. degree in Geology from
Washington & Lee University
(U.S.A.) in 1981. He is a member
of the Association of Professional Engineers and Geoscientists of
BC, a fellow of the Society of Economic Geologists, a fellow of the
Geological Association of Canada
and a member of the Geological Society of Nevada.
Paulo Espellet has 20 years of experience
overseeing exploration project-related activities including
regional prospecting, drilling, sampling and resource evaluations.
Mr. Espellet worked for Codelco do Brasil Mineração Ltda.,
Prometalica S/A, Stratagold Guyana and others on projects located
in Brazil and Guyana. Mr. Espellet earned his geology degree
from the University of Vale do Rio dos Sinos (UNISINOS),
Brazil in 1990.
The Company further announces that it has
entered into investor relations agreements (the "Agreements") with
Future Money Trends LLC ("FMT"), a California-based firm, and Max Porterfield of Vancouver, British Columbia.
FMT is headed by Kenneth
Ameduri, a media and investor relations specialist in the
natural resources sector, with a focus on introducing resource
sector issuers to broader institutional and retail investor
audiences. FMT will assist the Company with its overall investor
relations strategy and will coordinate retail and institutional
investor relations programs for the Company. In consideration for
the services to be provided by FMT, the Company has granted FMT
100,000 options to purchase common shares of the Company, with an
exercise price of $0.90 per share,
with 25% of such options vesting every three months over a 12-month
period. The FMT Agreement has an initial term of 12 months and the
Company may cancel the FMT Agreement upon 30 days' notice to
FMT.
Pursuant to a consulting agreement entered into
between the Company and Max
Porterfield (the "Porterfield Agreement"), he will be
responsible for the Company's day-to-day investor relations
activities, including providing investor relations services to the
Company's retail shareholders. In consideration for the services to
be provided, the Company has granted Mr. Porterfield options to
purchase 50,000 common shares of the Company, with an exercise
price of $0.90 per share, vesting
equally in four installments over an 18-month period. The
Porterfield Agreement has an initial term of 18 months. The stock
options granted to each of FMT and Mr. Porterfield have terms of 5
years from the date of grant. The foregoing engagements and stock
option grants are subject to acceptance by the TSX Venture
Exchange.
About Brazil Resources Inc.
Brazil Resources is a publicly listed 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 in northeastern
Brazil, and its Pireneus Gold
Project in Goias State, in central Brazil. Brazil Resources is also seeking to
acquire and develop additional gold properties in Brazil and other locations in South America.
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.
please contact:
Patrick Obara
Telephone: (855) 630-1001
info@brazilresources.com
SOURCE Brazil Resources Inc.