Road Town, Tortola, British Virgin Islands (April 26, 2006) – BrazMin Corp. (“BrazMin” or the “Company”) (TSX: BZM) is pleased to announce the scope and budget of a Phase II 2006 exploration program on the Company’s 100%-owned São Jorge Gold Project, located in the Tapajós Gold District, Pará State, Brazil. The Company also plans to perform exploration programs on certain of its other projects in Brazil.
Phase II Exploration Program
A Phase II exploration program on the São Jorge Gold Project is scheduled to commence on May 4, 2006. Two diamond drill rigs are currently being mobilized to site, with a third rig to follow. The program will consist of property-scale airborne and ground geophysics, mapping and trenching, aimed at locating additional mineralized zones within the favourable 20 kilometre structural trend. In addition 15-20,000 metres of diamond drilling is planned, mainly on the Wilton Zone and, to test several regional targets. It is also planned that the program include a revised resource estimate, metallurgical testing and a base-line environmental study.
Initially one full-time rig will be used for in-fill drilling on the Wilton Zone. This program follows a successful 42 hole, 10,000 metre 2005 Phase I program and will increase the density of drilling within the current resource block with the objective of allowing National Instrument 43-101 (“NI 43-101”) compliant measured and indicated resources to be calculated to the 200-250 metre level. The Wilton Zone is a northwest trending, steeply southwest-dipping, intrusion-related gold zone within a hydrothermally altered monzogranite. Gold is closely associated with pyrite and pyrite-filled fractures. The zone has been delineated over an area of 600 metres by 95 metres wide, within which are a number of narrower discrete zones of higher-grade gold. The Wilton Zone is open to the southeast and to depth.
A second diamond drill rig will be used to test the Wilton West Zone, located some 150 metres to the northwest of the Wilton Zone and associated with the same structural trend and hydrothermal alteration system. Since 2000, a large garimpo has been excavated in this area and there has been virtually no previous modern exploration work or drilling.
A NI 43-101 compliant resource estimate for the São Jorge Gold Project is currently being prepared by SRK Consulting (“SRK”), a well-respected international engineering firm independent of the Company. SRK’s report is expected to be delivered to BrazMin in mid-May, the results of which will be released forthwith.
Three 50 kilogram composite samples made up of quarter-core splits and representative of the entire Wilton West zone, have been submitted to SGS Lakefield Metallurgical Laboratory (“SGS”) in Ontario, Canada for comprehensive mineralogical and beneficiation testing. SGS is independent of BrazMin and is one of the highest quality laboratories of its kind in the world. Preliminary results are expected in June 2006.
BrazMin has budgeted $4 million for the above Phase II exploration program at São Jorge.
In May, 2006 BrazMin plans to perform airborne magnetic and radiometric surveys over its 100% -owned Água Branca and Tocantinzinho properties, both located within the Tapajós Gold District of Pará State. Both properties have similar geology to São Jorge and are located within the same favourable regional structural corridor that hosts several known significant gold deposits. Selected geophysical targets will be drill tested during the year. In addition, the Company plans to diamond drill up to 10 short holes on its 100%-owned Campo Grande project, located in Minas Gerais State. A coincident gold, arsenic and antimony anomaly extends over an area of 1,800 meters by 200-300 meters and is associated with a major shear zone within similar geology to the nearby dormant Pitangui Mine which produced an estimated one million ounces of gold.
BrazMin has budgeted $1.5 million for these projects.
BrazMin’s exploration programs are managed by Mr. Tony Ransom (Pr.Sci.Nat.), President and CEO of BrazMin, and, on-site, by Mr. Paulo Ilidio de Brito, VP Exploration of BrazMin, both of whom are qualified persons as defined under NI 43-101. The technical information in this release has been verified by Mr. Ransom.
BrazMin is a TSX-listed company with a treasury in excess of $CDN 14.5 million. The Company’s focus is the acquisition, exploration and advancement of high quality gold projects, primarily in Brazil. BrazMin has a well-qualified exploration and management team with extensive experience and expertise in gold exploration and project management, both within Brazil and worldwide.
BrazMin’s flagship project is the advanced-stage São Jorge Gold Project, located in the Tapajós Gold District, Pará State, Brazil. Mineral rights to the project are held 100% by BrazMin’s wholly-owned subsidiary, Brazilian Resources Mineração Ltda. A technical report dated March 31, 2006 and entitled “Technical Report on Sao Jorge Project, Pará State, Brazil for BrazMin Corp.” can be obtained from SEDAR at www.sedar.com. For additional information on BrazMin and its projects visit the Company’s website at www.brazmin.com or contact:
Tau Capital Corp.
Fiona Childe, Ph.D., P.Geo.
VP Corporate Communications
Tel: (416) 361-9636 x 227
Or Alan Friedman
Tel: (416) 361-9636 x 231
Forward Looking Statements
This Press Release contains or refers to forward looking information based on current expectations, including, without limitation, statements regarding the Company’s planned exploration programs. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.