VANCOUVER,
April 7, 2014 /PRNewswire/ - Brazil
Resources Inc. (the "Company" or "Brazil Resources") (TSXV: BRI)
(OTCQX: BRIZF) is pleased to provide an update on its progress
towards receiving environmental licenses for its Cachoeira Gold
Project in the State of Pará, northeastern Brazil (the "Cachoeira Project"). The
Company had previously engaged Arcadis-Logo, a leading
environmental consulting company in Brazil, to provide an environmental assessment
impact report ("EIA/RIMA") on the project. The EIA/RIMA has
now been completed, and the Company has submitted the EIA/RIMA to
the Environmental Agency of the State of Pará ("SEMA/PA") together
with the application for a preliminary environmental license (the
"LP").
Steve Swatton,
President and CEO, stated, "The completion of the environmental
assessment and the filing of the application for the preliminary
environmental license for our Cachoeira Project is an important
milestone for the project, and culminates a major investment by the
Company and the geological team. We appreciate the work performed
by Arcadis-Logo and our team. With the project now in the
permitting phase, we will continue to report on additional advances
at Cachoeira."
An LP is the first of three stages to complete
the environmental licensing for mining projects in Brazil. An LP serves as the SEMA/PA's
acknowledgement that the project is environmentally acceptable, and
it allows a project to proceed with developing an environmental
control plan in order to apply for an installation license and
begin construction of a mine, plant and infrastructure.
SEMA/PA will have six months from the date the
Company filed the EIA/RIMA and application, which may be extended
for up to an additional six months, to analyze the application for
granting the LP to the Company. Receipt of the LP will
provide the Company with a level of assurance that it will be able
to obtain the environmental licenses necessary to further advance
the project, and the LP will define the anticipated framework for
achieving further environmental licensing for the Cachoeira
Project.
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.
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, including the Company's expectations respecting the
granting of the LP. 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.
Brazil Resources Inc.
Stephen Swatton, Chief Executive
Officer
Patrick Obara, Chief Financial
Officer
Telephone: (855) 630-1001
SOURCE Brazil Resources Inc.