PASADENA, Calif., April 09, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that it has achieved a key milestone towards mining gold and diamonds from a promising area in the Jequitinhonha River Valley. Recently, this project was inspected by the local environmental council which then voted to give its permit for its advancement, an essential condition towards mining. With this critical approval on hand, Brazil Minerals expects to receive any additional regulatory permits on a timely basis and to be mining this project in 2019. As announced previously, a drilling campaign indicated that 35 out of 35 drills holes were positive for gold. Additionally, in a majority of such drill holes, the so-called “satellite markers” that indicate the likely presence of diamonds were recovered.
During the project’s inspection, the environmental council representatives visited Brazil Mineral’s tree nursery where various native specimens from the “cerrado” region of Brazil are grown. This provides the Company with a guaranteed supply of high-quality and diverse specimens. In 2019 to date, Brazil Minerals has already planted 600 new trees in previously mined areas which are being recovered. A photograph of part of the Company’s tree nursery is attached to this release.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/9644169d-0ede-499d-a3b1-f04cbc0bcc22
Marc Fogassa, CEO of the Company, commented, “We are delighted with the progress of this project. The various aspects of project management – geological studies, environmental considerations, and mining engineering – have come together well thus far. We look forward to positive news ahead.”
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) along with its subsidiaries has a business model focused on: 1) mining specific areas for gold and diamonds, and 2) generating projects from its portfolio of high-quality mineral rights for transactions leading to royalties and/or equity positions. The first equity holdings from such strategy is a 49% ownership in Jupiter Gold Corporation (OTC: JUPGF). More information on Brazil Minerals 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, Brazil Minerals, Inc.’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. We advise U.S. investors that Brazil Minerals’ (and its subsidiaries’) properties and projects, as of now, are exploratory and do not have measured “reserves” as such term is defined by the Securities and Exchange Commission.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
info@brazil-minerals.com
www.brazil-minerals.com
@BMIXstock