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Brazil Resources Announces NI 43-101 Gold-Copper Resource for the Titiribi Project, Colombia

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Highlights:

  • The Titiribi NI 43-101 resource estimate has a measured and indicated resource of 4.63 Moz gold and an inferred resource of 3.25 Moz gold at a 0.3 g/t gold cut-off (See Tables 1 and 2 for details on tonnage, grade and contained metal);

  • The mineral resource estimate for the Titiribi Project has resulted in Brazil Resourcesꞌ global gold resource increasing by 146% in the measured and indicated categories and 46% in the inferred category;

  • The inclusion of this resource estimate increases BRI's global measured and indicated resource to 7.8 Moz gold (10.4 Moz gold equivalent) and inferred resource to 10.3 Moz gold (12.6 Moz gold equivalent) (see table 3 for details);

  • Approximately 144,779 metres of diamond drilling in 270 holes has been completed on the Project;

  • Project has excellent infrastructure including paved roads, high power electrical transmission lines 3 km from the property and water; and

  • Nearby gold projects in development or production include AngloGoldꞌs Ashantiꞌs Quebradona, B2Goldꞌs Gramalote, Continental Gold's Buritica, Red Eagleꞌs San Ramon, and Gran Colombiaꞌs Marmato projects.

VANCOUVER, Sept. 14, 2016 /CNW/ - Brazil Resources Inc. (the "Company" or "Brazil Resources") (TSX-V: BRI; OTCQX: BRIZF) is pleased to announce the results of a National Instrument 43-101 ("NI 43-101") mineral resource estimate for Titiribi Gold-Copper Project (the "Titiribi Project" or  the "Project") located in Antioquia Department, approximately 70 kilometres southwest of the city of Medellin, Colombia.

(Photo: http://photos.prnewswire.com/prnh/20160914/407866)

Garnet Dawson, CEO, stated: "We are pleased to report this NI 43-101 resource estimate for the Cerro Vetas, Chisperos and NW Breccia, three of 9 mineralized porphyry-epithermal targets identified on the Titiribi Project. The inclusion of this resource estimate increases BRI's measured and indicated resource to 7.8 Moz gold (10.4 Moz gold equivalent) and our inferred resource to 10.3 Moz gold (12.6 Moz gold equivalent). In conjunction with advancing our existing project portfolio, the Company continues to evaluate resource-stage projects in the Americas for potential acquisition."

The Titiribi Project occurs within the Mid-Cauca Porphyry Belt and consists of several near surface bulk tonnage gold-copper porphyry and associated epithermal gold systems. A total of 270 diamond drill holes, totaling 144,779 metres, have been drilled at the Titiribi Project, with nine mineralized areas identified to date. The Titiribi Project is comprised of one concession that covers an area of approximately 39.19 square kilometres. The project is located between 1,200 to 2,200 metre elevations, below the elevation of the Páramo tropical mountain ecosystems, and is road accessible by paved highway from Medellin with high power electrical lines passing within three kilometres.

The Mid-Cauca Porphyry Belt hosts several gold projects in development or production in the last decade, including AngloGold's Ashanti's Quebradona, B2Gold's Gramalote, Continental Gold's Buritica, Red Eagle's San Ramon, and Gran Colombia's Marmato projects. This has largely coincided with the government encouraging foreign development in a region that has not seen, until recently, the implementation of modern exploration programs.

Titiribi Resource Estimate

Brazil Resources has engaged Behre Dolbear & Company (USA), Inc. to prepare an independent NI 43-101 technical report for the Titiribi Project, including updated resource estimates for the Cerro Vetas, Chisperos and NW Breccia deposits. The resource estimates, which have an effective date of September 1, 2016, for the measured and indicated, and inferred resource categories at various gold cut-offs are shown in Table 1 and Table 2, respectively.

Table 1: NI 43-101 measured and indicated resource estimates for the Cerro Vetas, Chisperos and NW Breccia deposits.

Deposit

Classification

Au Cut-off

Tonnage

Grade


Contained Metal

Au

Cu

AuEq

Au

Cu

AuEq1

(g/t)

(Mt)

(g/t)

%

(g/t)

Moz

Mlbs

Moz

Cerro Vetas

Measured

0.2

75.5

0.415

0.156

0.673

1.01

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MARKET SUMMARY

INDICES

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DOW 24949.00 1.48%
S&P 500 2703.33 1.94%
NASDAQ 7329.86 1.89%
TSX 15171.82 1.59%
TSX-V 637.06 0.00%

Resource Commodities

Name Last Change
Gold 1232.86 0.87%
Silver 14.76 1.56%
Copper 2.77 0.000
Platinum 832.24 1.35%
Oil 69.17 0.07%
Natural Gas 3.14 3.57%
Uranium 27.68 0.11%
Zinc 1.23 0.00%

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