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Brascan's Many Brazilian Gold Properties, Including Alegre

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Brascan Gold Negotiates Earn-in Options on Multiple - Brazilian Gold Properties, Including the Alegre Gold Project in Northeastern, Brazil

 
January 17, 2022 – Vancouver, B.C. – Brascan Gold Inc. (CSE: BRAS) (“Brascan” or the “Company”) is pleased to announce ongoing review of multiple earn-in options on gold properties in Brazil. As recently announced, Brascan completed a due diligence site visit on the Alegre Gold Project (the “Project”) in Par State, northeastern Brazil (see Brascan news release dated December 28, 2021). The site visit verified multiple recently active or active artisanal gold mines (garimpos) of significant size, evidently recovering gold from the weathered saprolite zone within structurally controlled shear zones. These gold garimpos attest to Project’s significant gold potential. Brascan believes the saprolite (weathered zone) gold mineralization is likely to extend into the bedrock below, and that will be a focus of the anticipated exploration program. This exploration program is expected to include geophysics (magnetics and electromagnetics), surface sampling and planning of the best cooperative ways forward working with the garimpeiros. Brascan expects to develop strong drill targets from this work, especially given the evidence of garimpo gold production.
 
Location of the Alegre Gold Project:

Based on the results of the site visit and additional detailed due diligence on the Alegre Gold Project, Brascan intends to formally announce its acceptance of the earn-in option with the 100% claims owners Chapada Brasil Minerao Ltda. (“CBM” or the “Optionor”) by the end of January, 2022.
 
Gold garimpo of significant scale on the Alegre property.

The Project is located on the same gold mineralization trend as Goldmining Inc.’s advanced Cachoeira gold project 15 km to the north and Oz Minerals’ CentroGold Project 30 km to the south (considered one of Brazil’s largest undeveloped gold projects). CBM also reports that other adjacent neighbors to the Alegre Gold Project include Kinross Brasil Minerao and IAM Gold Corp. https://www.goldmining.com/projects/brazil/cachoeira/)
 

The Alegre Gold Project (yellow) is located between Goldmining’s Cachoeira Gold Project (green) to the north, and OZ Minerals’ CentroGold Project to the south, within the same 100 km long structurally deformed volcaniclastic stratigraphic unit.
 
Additional Brazilian gold targets
Brascan is concurrently conducting detailed due diligence studies on two other gold projects in Brazil. One is in Goias State, about a 3-hour drive from Brasilia, where Brascan has identified “blue-sky” potential for gold along a 1.6 km mineralized trend. It also may be suitable for bulk sampling under a Brazilian trial mining licence, while the blue-sky potential is being explored. The other Project is located in the heart of Brazil’s traditional mining district in Minas Gerais State. In that area, gold mining has occurred since the times of the Portuguese empire, but exploration work suggests high-grade targets remain. Balbir Johal, CEO, stated “We look forward to closing the Alegre Gold option agreement in short order that will allow us to mobilize our exploration immediately to unlock the projects full potential.”
 
Qualified person
Harrison Cookenboo Ph.D., P.Geo. and a QP by the standards of Canadian National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein.
 
For more information, investors should review the Company’s filings that are available at www.sedar.com.
 
Contact Information
 
Balbir Johal
Director and CEO
 
604 812 1747
[e-mail]