Brazil Resources Inc. Welcomes Ovidio Antonio de Angelis to its Advisory Board
May 31, 2011
- Mr. de Angelis Earlier Served as Minister of Regional Politics in the Brazilian Cabinet
- Company Enters into Investor Relations Agreement
FOR IMMEDIATE RELEASE
Vancouver, British Columbia â€" May 31, 2011 - Brazil Resources Inc. (the "Company") (TSX-V:BRI) is pleased to announce that, effective immediately, it has appointed Ovidio Antonio de Angelis to the Company's Advisory Board.
On Mr. de Angelisâ€™ appointment, Amir Adnani, Chairman, stated, â€œOvidioâ€™s leadership experience in the many levels of Brazilâ€™s government, including the mining state of Goias, brings much needed understanding and valuable relations to the Company."
Ovidio Antonio de Angelis served as the Minister of Regional Politics as well as the Minister of Urban Development in the Brazilian cabinet under President Fernando Henrique Cardoso from 1998 through 2002. He was Vice President of Brazilâ€™s Foreign Trade Council in 2003. Mr. de Angelis dedicated the majority of his career to advancing the interests of the state of Goias through various roles. He served as the President of the State Bank of Goias from 1991 to 1993 and also vice president of the Association of Commercial and State Banks of Brazil. He was also the president of the Electric Energy Corporation for the state of Goias from 1992 to 1994. Recently, from 2003 to 2008, Mr. de Angelis served as the Secretary of the Foreign Trade Bureau of the state of Goias. Mr. de Angelis earned a Bachelorâ€™s degree in Law from the Federal University of Goias, College of Law.
The Company is also pleased to announce that it has entered into an investor relations agreement (the â€œAgreementâ€) with Michael Baybak and Company, Inc. ("MBC"), a Florida-based firm, pursuant to which MBC will provide institutionally-oriented investor relations programs on behalf of the Company. MBC is headed by Michael Baybak, an institutional and media investor relations specialist in the natural resources sector, with a focus on introducing resource sector issuers to broader institutional and retail investor audiences.
The Company has agreed to pay MBC a monthly fee of US$5,000 over the 12-month term of the Agreement. The Company may cancel the Agreement, upon 30 days' notice to MBC any time after an initial six month period and may renew the Agreement upon completion of the 12-month term. Pursuant to the terms of the Agreement, the Company has agreed to grant 150,000 stock options to principals of MBC, which will vest over a one year period, with 25% vesting each quarter, subject to any required regulatory approvals.
The Agreement and the grant of options thereunder are subject to the acceptance of the TSX Venture Exchange.
About Brazil Resources Inc.
Brazil Resources Inc. is a mineral exploration company with a focus on the acquisition, exploration and development of mineral properties in the emerging gold districts of Brazil and in additional prolific areas of South America. Currently, the Companyâ€™s principal property is the Montes Ãureos project, located within the Gurupi Gold belt in the state of MaranhÃ£o, Brazil.
For additional information, please contact:
Telephone: (604) 227 1124
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.