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.
Telephone: (855) 630-1001
SOURCE Brazil Resources Inc.