VANCOUVER, March 1, 2013 /PRNewswire/ - Brazil Resources Inc. (TSXV: BRI) (OTCQX: BRIZF), (the "Company") is pleased to announce the appointment of Former Minister of Natural Resources, the Honourable Herb Dhaliwal, to its board of directors.
Regarding the appointment, Amir Adnani, Chairman, stated: "We are pleased to welcome the Hon. Herb Dhaliwal as a director of the Company. His extensive and qualified experience, including his time as a member of the Company's advisory board, makes an excellent fit."
The board of directors appointed the Hon. Herb Dhaliwal to replace Enzio Garayp who will continue as a member of the Company's advisory board. The board of directors wishes to thank Mr. Garayp for his service as a director of the Company.
The Hon. Herb Dhaliwal served as a Member of Parliament for over ten years. He served in the Federal Cabinet under Prime Minister Jean Chrétien as Minister of Natural Resources, Minister of National Revenue and Minister of Fisheries and Oceans. In his role as Minister of Natural Resources, he actively sought responsible economic development of Canada's vast natural resources and was an authoritative policy maker on decisions relating to the mining and energy, including oil and gas, industries.
In addition to a wealth of experience related to the natural resource sector, Mr. Dhaliwal has tremendous business acumen. Prior to his entrance to national politics, he founded a maintenance company that has grown under his leadership from one employee to over 500. He has also served as Vice-Chair of the B.C. Hydro and Power Authority board of directors, with responsibility for oversight of the Budget and Audit Committees. The Vancouver Sun has recognized Mr. Dhaliwal as one of the top-100 most influential British Columbians of the 20th century. He graduated from the University of British Columbia in 1977 with a Bachelor of Commerce degree.
In connection with his appointment to the Company's board of directors, the Company granted 25,000 incentive stock options ("Options") to Mr. Dhaliwal. The Options have an exercise price of $1.10 per common share, representing the market price for the common shares on February 28, 2013, are valid for a period of five years and vest over a period of twelve months. The grant of Options is subject to the acceptance of the TSX Venture Exchange.
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, the Company is advancing its Cachoeira, Montes Áureos, Trinta and Maua Gold Projects located in the Gurupi Gold Belt in the state of Maranhão, northeastern Brazil, and its Artulandia Copper-Gold Project in central Brazil.
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Stephen Swatton or Patrick Obara
Telephone: (855) 630-1001
SOURCE Brazil Resources Inc.