BrazMin and Brazauro's Tocantinzinho Title Confirmed In Brazil
Dec 4, 2006
Houston, Texas and Road Town, Tortola, British Virgin Islands (Dec 4, 2006) - Brazauro Resources Corporation (“Brazauro”) (TSXV: BZO) and BrazMin Corp. (“BrazMin”) (TSX: BZM) have been advised by the Departamento Nacional de ProduÇão Mineral (“DNPM”) in Brazil that the mining license being acquired by Brazauro and described in Brazauro's news release of February 16, 2006 has been confirmed as the paramount title over Brazauro's Tocantinzinho Project (“Tocantinzinho” or the “Project”). This license assures good title and continuity to the entirety of the Project area. Brazauro holds a total of 43,840 hectares of mineral interests at Tocantinzinho.
Upon publication in Brazil 's official Government Gazette of the confirmation of title, Brazauro will issue 13.15 million common shares to BrazMin. As announced September 13, 2006, Brazauro will acquire all of BrazMin's interests in the Project area. This acquisition extends Brazauro's landholdings at Tocantinzinho to the east and southeast, into zones that Brazauro believes hold potential to expand the overall project's gold-bearing mineralization.
Mark Jones , chairman of Brazauro, said, “We are very pleased to complete this title confirmation and to consolidate the entire Tocantinzinho area. We have retained Pincock, Allen & Holt, independent consultants based in Denver , to prepare an estimate of the mineral resource at Tocantinzinho, and a technical report will be announced shortly. We are reviewing the exploration information to date from the new areas now under Brazauro's control, and will initiate further exploration activities here in the near-term.”
Tony Ransom, President and CEO of BrazMin, said, “Resolution of the complex title issues at Tocantinzinho is a great step forward and will ensure the orderly exploration and development of the area. Through our investment in Brazauro, we will continue to have exposure to this emerging project, while focusing activities on our property portfolio, both within the Tapajos district and elsewhere in Brazil.”
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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. The news release includes certain “forward-looking statements.” All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results and future plans and objectives of Brazauro Resources and BrazMin Corp., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Brazauro's and BrazMin's expectations are exploration risks detailed herein and from time to time in the filings made by the Companies with securities regulators.