BRAZIL MINERALS, INC. OBTAINS
GOLD CLAIM IN PARACATU, BRAZIL, A PREMIER PRODUCING
AREA
PASADENA, CA -- August 29, 2016 -- InvestorsHub NewsWire --
Brazil Minerals, Inc. (OTC:
BMIX) (the "Company" or "BMIX") today announced that Jupiter
Gold Corporation ("Jupiter"), its gold-focused subsidiary, had
obtained a mineral claim for gold covering 773 acres in the
municipality of Paracatu, in the state of Minas Gerais. Paracatu is
where the largest gold mine in Brazil, named Morro do Ouro, is
located. Morro de Ouro is an open-pit mine owned by global firm
Kinross Gold, with 2015 reported proven and probable reserves of
9.645 million ounces of gold and annual production of 477,622
ounces of gold. The obtained claim is located 350 miles from BMIX's
alluvial gold and diamond operations and was listed in the
Company's recently filed Form 10-Q for the second quarter of
2016.
Paracatu was settled in the early 17th century by pioneers
searching for gold, and it has enjoyed mining since that time. Gold
production in the Paracatu region has usually been from alluvial
deposits, mainly near a river stream called Corrego do Ouro (also
called Corrego do Rico). Expert believe that this watercourse,
which starts near Morro do Ouro mine, has, for millions of years,
eroded rock and transported gold for the formation of alluvial
deposits downstream.
A simple, alluvial gold-producing operation using
centrifuges, located along Corrego do Ouro and downstream from
Morro do Ouro mine, was recently offered to Jupiter for $12
million Brazilian reais (approximately $3.75 million U.S. dollars).
Jupiter declined this opportunity and, instead, spent time
investigating greenfield situations nearby. It identified a claim
in what it considers a more desirable location along Corrego do
Ouro, located upstream from this operation for sale and therefore
closer to Morro do Ouro. While research needs to be performed for
confirmation, a mining expert hired by Jupiter has stated that it
is likely that the claim obtained could lend itself to a program of
alluvial gold recovery based on the use of centrifuges, a
methodology where internal experience is being developed.
BMIX has stated in prior releases that mineral-focused
subsidiaries allow needed investment for projects without share
dilution of the parent Company. BMIX intends to maintain stock
ownership in each subsidiary and royalties in each project.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC:
BMIX) is a producer of diamonds, gold, sand, and industrialized
mortar. Through subsidiaries, consolidated in our financial
statements, we have 38 mineral rights for gold, diamonds,
manganese, and sand, including 10 mining concessions for gold and
diamonds, the highest level of right to mine in Brazil. More
information on BMIX is at www.brazil-minerals.com.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward looking statements are based
upon the current plans, estimates and projections of Brazil
Minerals, Inc.'s management and are subject to risks and
uncertainties, which could cause actual results to differ from the
forward looking statements. Such statements include, among others,
those concerning market and industry segment growth and demand and
acceptance of new and existing products; any projections of
production, reserves, sales, earnings, revenue, margins or other
financial items; any statements of the plans, strategies and
objectives of management for future operations; any statements
regarding future economic conditions or performance; uncertainties
related to conducting business in Brazil, as well as all
assumptions, expectations, predictions, intentions or beliefs about
future events. Therefore, you should not place undue reliance on
these forward-looking statements. The following factors, among
others, could cause actual results to differ from those set forth
in the forward-looking statements: business conditions in Brazil,
general economic conditions, geopolitical events and regulatory
changes, availability of capital, BMIX's ability to maintain its
competitive position and dependence on key management. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy any security and shall not constitute an offer,
solicitation or sale of any securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com