Brazmin Reports Results for the Three Months Ended March 31, 2007
May 15, 2007
Road Town, Tortola, British Virgin Islands (May 15, 2007) - BrazMin Corp. (“BrazMin” or the “Company”) (TSX: BZM) reported a gain for the three months ended March 31, 2007 of $9,446,746 or $0.35 per share (basic) and $0.30 per share diluted. This compares to a loss of $109,593 or $0.01 per share (basic and diluted), for the three months ended March 31, 2006. The gain in the current period is attributable to the sale of the Company's interest in the Tocantinzinho gold project area to Brazauro.
Capitalized exploration for the three month period amounted to $505,368, and costs of $744,214 were reduced as a result of the sale of the Tocantinzinho project. The total capitalized exploration to March 31, 2007 is $7,932,046, and mainly reflects work performed on the Sao Jorge Gold Project in Para State, Brazil.
Consolidated Interim Financial Statements for the three months ended March 31, 2007, together with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.
For additional information on BrazMin and its projects visit the Company's website at www.brazmin.com or contact: