VANCOUVER, April 7, 2014 /CNW/ - 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.
Brazil Resources Inc.
Stephen Swatton, Chief Executive Officer
Patrick Obara, Chief Financial Officer
Telephone: (855) 630-1001