VANCOUVER, Oct. 3, 2011 /PRNewswire/ - Brazil Resources Inc. (the "Company") (TSXV: BRI) is pleased to announce that it has granted incentive stock options to purchase a total of 1,182,500 common shares of the Company (the "Options") to officers, directors, employees and consultants of the Company. The Options have an exercise price of $1.20 per common share, representing the market price of the common shares on September 30, 2011, and are valid for a period of five years. 640,000 of the Options were granted to the Company's directors and officers, of which 25% of the Options vest immediately with the balance vesting in three equal installments at the end of each four month period for the next twelve months. The Option grants are subject to the acceptance of the TSX Venture Exchange.
About Brazil Resources Inc.
Brazil Resources Inc. is a mineral exploration company with a focus on the acquisition, exploration and development of mineral properties in the emerging gold districts of Brazil and in additional prolific areas of South America. Currently, the Company's principal property is the Montes Áureos project, located within the Gurupi Gold belt in the state of Maranhão, Brazil.
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.
SOURCE Brazil Resources Inc.