BRAZIL MINERALS, INC.
ANNOUNCES SUCCESSFUL BEGINNING OF OPERATIONS WITH GOLD RETRIEVAL
UNIT & OTHER NEWS
PASADENA, CA -- October 10, 2016 -- InvestorsHub NewsWire --
Brazil Minerals, Inc. (OTC:
BMIX) (the "Company" or "BMIX") announced today that the
initial gold retrieval unit (GRU) installed in one of its mining
concessions for gold in the Jequitinhonha River valley in Brazil
has begun operations as of late last week.
This initial GRU was built to specifications at a metalworking
facility located in northern Minas Gerais state in Brazil.
Following transport to its current location, it took over two weeks
to configure, test and optimize several aspects of its operation,
including the electric grid connection from a diesel-powered
portable generator as well as the water pumping mechanism. Two
photographs of the GRU are attached to the version of this press
release posted in the Company's website (www.brazil-minerals.com). In essence, this GRU has a
specially designed motorized trommel that feeds material into two
centrifuges working in parallel.
While the Company has run the GRU only a very short time, it has
already witnessed that the cost of its operation will be low.
Together, diesel and direct labor, the two largest costs, averaged
150 dollars per day; this is a preliminary number, subject to
change with a longer period of operations. Having a cost effective
method of recovery is important because the concentration of
alluvial gold on a volumetric basis varies significantly from area
to area and low costs allow even lesser material to be processed
profitably. The Company sees this initial GRU as an initial step in
technology development; it already has certain ideas for
improvements on a version 2. As BMIX has 10 mining concession areas
for alluvial gold, among the 38 mineral rights encompassing 440
square miles that it controls, there is room for several GRUs to
work simultaneously on BMIX's concessions.
In other news, BMIX announced that the portable diamond and gold
plant of an unrelated third-party enterprise that signed a
previously announced royalty deal with the Company also began
operations. A photograph of such plant is attached to the version
of this press release posted in the Company's website (www.brazil-minerals.com). There are numerous
differences between this portable plant and the GRU, however both
utilize motorized trommels as a separation step. Under the terms of
the royalty agreement, BMIX will receive 25% of this third party's
production of gold and diamond with virtually zero cost to
BMIX.
In additional news, Ambassador Christopher Westdal has joined
the Board of Directors of Jupiter Gold Corporation (Jupiter Gold),
a subsidiary of the Company. Ambassador Westdal resides in Quebec,
Canada and is currently the non-executive Chairman of the Board of
Directors of Silver Bear Resources, Inc. (SBR), a public company
developing a large silver mine in Russia. He has been a director of
SBR since 2007, and has served on other public company boards with
mining interests in Canada, Russia, and Ukraine. BMIX believes that
his directorship experience and involvement in international mining
opportunities will be a strong positive for Jupiter Gold.
Ambassador Westdal is a former Canadian diplomat with 40 years
of international experience. He was Ambassador to Russia, the
United Nations in Geneva, Ukraine, South Africa, and Bangladesh and
Burma. Prior assignments abroad included India, Nepal, and
Tanzania. Ambassador Westdal holds a Bachelor of Arts degree from
St. Johns College and a Master of Business Administration degree
from the University of Manitoba.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC:
BMIX) is a producer of diamonds, gold, sand and industrialized
mortar. Through various subsidiaries, consolidated in our financial
statements, we have title to 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; the total
surface area of these mineral rights is 218,525 acres or 440 square
miles. 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