Brazil Minerals, Inc. Increases Mineral Rights for Diamonds and Gold in Brazil by 168% in Area
BELO HORIZONTE, BRAZIL--(Marketwired - Jun 25, 2014) - Brazil Minerals Inc. (
BMIX's strategy is to selectively obtain mineral rights for diamonds and gold near Duas Barras. The two rights described in this release add approximately 2,371 acres for exploration of diamonds and gold. Duas Barras has one mining concession, where production is ongoing, and another mineral right for future use, and its total available area is approximately 1,404 acres. Together, the areas now available total 3,775 acres, an increase of approximately 168%.
Marc Fogassa, Chairman and CEO of BMIX, commented, "Just like an oil company periodically increases its reserves, whenever feasible we will augment the areas we have for diamond and gold exploration. Our goal is to continue to build a collection of valuable assets with mineralized material to allow the Duas Barras plant to process gravel and recover diamonds and gold for decades to come."
About Brazil Minerals, Inc.
Brazil Minerals Inc. (OTCQB: BMIX), a U.S. holding corporation, has ownership of 73.75% of Duas Barras, a Brazilian mining company that mines diamonds and gold, and sells polished and rough diamonds as well as gold bars with 96% purity. BMIX also owns stakes in other subsidiaries in Brazil with mineral rights and/or options on projects in diamonds, gold, and other minerals. More information on BMIX, including an investor presentation, can be found at www.brazil-minerals.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Brazil Minerals Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, BMIX's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Cautionary note regarding estimates of Indicated and Inferred Mineral Resources as found in the Duas Barras NI 43-101.
We advise U.S. investors that while these terms are recognized by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves.
