Brazil Minerals, Inc.' Update
03.05.2017 | Accesswire
PASADENA, May 3, 2017 - Brazil Minerals, Inc. (OTC PINK: BMIX) (the "Company" or "Brazil Minerals") announced today that its subsidiary, Jupiter Gold Corporation ("Jupiter Gold"), has been awarded prospecting permits from the Brazilian mining department with respect to two areas for gold. These expanded mineral right titles were published in the Brazilian government gazette as mandated by local regulations.One of the awarded prospecting permit titles is with respect to an area covering 795 acres located in the municipality of Paracatu in the state of Minas Gerais, Brazil. Jupiter Gold's mineral right is located approximately four miles from Kinross Gold's open pit mine at Morro de Ouro with 2016 annual gold production of 480,000 ounces and 9 million in proven and probable reserves according to Kinross Gold's publicly-available reports.
The other prospecting permit title is with respect to an area covering 4,069 acres located in the greater Itabira region also in the state of Minas Gerais. The province in which this mineral right is held is called Iron Quadrangle given the numerous iron mines present. Gold has also been mined in the Iron Quadrangle for over two centuries at various locations.
In other news, Brazil Minerals posted a new video of its operations at the first modular plant for recovery of gold and diamond. The video can be watched at the link below:
https://youtu.be/n0xBfWxV17Y
In further news, the Companys audit is progressing and the Company will file its Form 10-K as soon as possible.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC PINK: BMIX) is a producer of diamonds, gold, sand and industrialized mortar. Through various subsidiaries, consolidated in our financial statements, we have title to 38 mineral rights for gold, diamonds, manganese and sand, including 10 mining concessions for gold and diamonds, the highest level of right to mine in Brazil; the total surface area of these mineral rights is 218,525 acres or 440 square miles. More information on BMIX is 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 the terminology "proven and probable reserves" as referred to in this press release.
We advise U.S. investors that while such terminology is 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 as such term is defined by the Industry Guide 7, the U.S. reporting standard.
Contact:
Marc Fogassa, CEO
Brazil Minerals, Inc.
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com