BRAZIL MINERALS, INC. PROVIDES UPDATE REGARDING ITS
LARGE GOLD PROPERTY IN NORTHERN BRAZIL
PASADENA, CA -- May 2, 2016 -- InvestorsHub NewsWire -- Brazil
Minerals, Inc. (OTC:
BMIX) (the "Company" or "BMIX") announced that on April 29,
2016 it obtained approval of a report regarding
BMIX's Apui/Borba Project for gold from the local mining
department. With the completion of this necessary step, the
BMIX's title to this mineral right is confirmed and the
Company can now work towards obtaining an initial commercial
mining permit. BMIX's Apui/Borba Project titled right covers
24,708 acres, a surface area that is 15% larger than the island of
Manhattan in New York. The project has potential mineralization of
4.3 million ounces of gold (this preliminary estimate is not
derived from the U.S. standard guidelines referred to as Industry
Guide 7 and does not represent a proven or probable mineral
reserve). As part of a future application for a mining concession,
the Company will undertake a feasibility analysis of the
project.
BMIX's Apui/Borba Project is located in the state of
Amazonas in the northern part of Brazil, between the cities of Apui
and Borba, and part of a region referred to by geologists as the
gold belt of the Amazon. Elsewhere in Brazil, BMIX has producing
properties for diamonds, gold and sand, and owns the largest
processing plant for diamondiferous gravel in Latin America. In
particular, BMIX owns 29 other mineral rights, including 10 mining
concessions for diamonds and gold; a concession is the highest
level of mining title in Brazil. All of these other BMIX's mineral
rights are located in the state of Minas Gerais in southeastern
Brazil, some 1,300 miles away. Brazil has a larger surface area
than the continental United States and its entire territory
presents attractive natural resources.
The Apui/Borba Projects area has had a history of a small number
of illegal settlers extracting gold. Their presence in such
specific locale within the enormity of the Amazon is considered by
some experts to indicate the presence of gold deposits that are of
relatively easy extraction. It is known that gold is extractable
there in both alluvial and conglomerate form. BMIX has reported
such illegal extraction to all of the necessary Brazilian
authorities and is following up closely. To dissuade further
settler activity, the Company has been conservative in the
information it shares. Access to the area by geologists and others
is via a small airplane landing strip located within the project or
by riverboat from Manaus, the state capital.
The Company believes that the combination of producing diamonds
and gold in its properties in Minas Gerais and overseeing a large
gold project in Amazonas bodes well for its future. BMIX is in the
early stages of conversations regarding potential partnerships for
co-development or other situations regarding its Apui/Borba
Project. In particular, it recently began discussions with a
private Chinese gold mining company regarding a potential
investment and technology transfer for the project.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC:
BMIX) is a producer of diamonds, gold, sand, and industrialized
mortar. We own 30 mineral rights, including 10 mining concessions
for diamonds and gold, the highest level of right to mine in
Brazil. More information on BMIX can be found 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.
Cautionary note regarding estimates of Indicated and
Inferred Mineral Resources of Diamonds and Gold as found in MDBs NI
43-101 Technical Reports.
We advise U.S. investors that while these terms and amounts
are recognized by Canadian regulations, the U.S. Securities and
Exchange Commission (SEC) does not recognize them. U.S. investors
are cautioned not to assume that any part or all of the mineral
deposits in these categories will ever be converted into mineral
reserves as defined by the U.S.s Industry Guide 7.
Cautionary note regarding estimates of Mineral
Reserves of Diamonds and Gold as found in MDBs Bankable Feasibility
Study.
We advise U.S. investors that while these terms and amounts
are recognized by Brazilian regulations, the SEC does not recognize
them. U.S. investors are cautioned not to assume that any part or
all of the mineral deposits in this category will ever be converted
into mineral reserves as defined by the U.S.s Industry Guide
7.
Cautionary note regarding estimates of Volume and
Weight of Sand as found in MDBs studies filed with the local
Brazilian regulatory agencies.
We advise U.S. investors that while sand volume and weight
terms and amounts as filed in Brazil are recognized by Brazilian
regulations, the SEC does not recognize them. U.S. investors are
cautioned not to assume that any part of such are not considered
mineral reserves as defined by the U.S.s Industry Guide 7.
Cautionary note regarding preliminary estimates of
potential mineralization for gold of the Apui/Borba Project with
the local Brazilian regulatory agencies.
We advise U.S. investors that preliminary estimates of
potential mineralization for gold of the Apui/Borba Project with
Brazilian regulators is not recognized by the SEC. U.S. investors
are cautioned not to assume that any part of such potential
mineralization is or will ever become mineral reserves as defined
by the U.S.s Industry Guide 7.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com