Brazil Resources Inc. Achieves Significant Milestone on Environmental Licensing for its Cachoeira Gold Project
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.