Road Town, Tortola, British Virgin Islands (Friday May 12, 2006) – BrazMin Corp. (TSX: BZM) reported a loss for the three month period ended March 31, 2006 of Cdn $109,593 or $0.01 per share (basic and diluted).
Capitalized exploration for the period amounted to Cdn $637,234 (total to date is $5,348,737) and mainly reflects work performed on the Sao Jorge Gold Project in Para State, Brazil and for ongoing land acquisition costs previously committed to. As of March 31, 2006, the Company had cash of approximately Cdn $14.8 Million.
BrazMin Corp. (the “Company”) was incorporated on July 8, 2004 under the International Business Companies Act in the Territory of The British Virgin Islands. On April 5, 2005 the Company changed its name from Resource Holdings and Investments Inc. to Brazmin Corp.
BrazMin is engaged in the acquisition, exploration and development of gold exploration properties, primarily in Brazil. It has gold projects in several states within Brazil. The Company is focussing its current exploration activities on its 100% owned advanced exploration project, Sao Jorge, where a 10,000m diamond drilling program was recently completed
The company has 26,466,813 shares outstanding (35,113,745 shares fully diluted).
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This document may contain or refer to forward looking information based on current expectations. 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.