Road Town, Tortola, British Virgin Islands (Feb 7, 2007) – BrazMin Corp. (“BrazMin”) (TSX: BZM) announces that it has acquired 13,150,000 common shares (the “Shares”) of Brazauro Resources Corporation (“Brazauro”) pursuant a previously announced acquisition agreement (the “Agreement”). The Shares have been issued to BrazMin as consideration for the acquisition of all of BrazMin’s interests in the Tocantinzinho gold project area in Brazil. The acquisition of interests in the Tocantinzinho gold project was accomplished by the purchase of two wholly owned subsidiary of BrazMin which indirectly held BrazMin’s Tocantinzinho interests.
The acquisition (the “Acquisition”) of the Shares has resulted in BrazMin owning approximately 19.9% of the issued and outstanding common shares of Brazauro. Prior to the Acquisition BrazMin did not own beneficially, directly or indirectly, any shares of Brazauro. For a limited period of time Brazauro will have the right to direct the voting of the Shares except in certain conditions.
The Acquisition was effected through an issuance from treasury. The Shares of Brazauro were acquired for investment purposes. BrazMin together with joint actors may from time to time, depending on market and other conditions, increase its beneficial ownership, control or direction over the common shares or other securities of Brazauro, through market transactions, private agreements, treasury issuances, exercise of convertible securities, or otherwise.
An early warning report in respect of the above noted transaction will be filed on SEDAR and will be available at www.sedar.com.
For additional information on BrazMin please visit the Company’s website at www.brazmin.comor contact:
Fiona Childe, Ph.D., P.Geo.
VP Corporate Communications
Tau Capital Corp.
Tel: (416) 361-9636 x 227