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Gold/Mining/Energy : YBZ - Brazilian Resources -- Ignore unavailable to you. Want to Upgrade?

To: Berry Picker who wrote (13)	5/12/2001 8:39:06 PM
From: Berry Picker	Read Replies (1) \| Respond to of 32

Yikes - talk about overlooked NEWS : Brazilian Resources to joint venture Sabara project Brazilian Resources Inc YBZ Shares issued 51,582,652 2001-05-09 close $0.18 Friday May 11 2001 News Release Mr. Daniel Titcomb reports Brazilian and IMS Empreendimentos Ltd. have executed a memorandum of understanding to enter a joint venture for the purpose of developing small- and medium-sized mineral properties in Brazil. Initially, under the terms of the agreement, Brazilian will contribute its 100-per-cent-owned Sabara gold property in return for a 90-per-cent interest in the joint venture. IMS will receive a 10-per-cent interest in the joint venture and is responsible for analyzing the property's technical data (including previous exploration work), executing metallurgical testing, obtaining environmental licences, and completing a technical and economic prefeasibility study. The joint venture anticipates that IMS may soon increase its ownership interest with a contribution of a gold, base metal or industrial metal property for development. IMS is currently preparing a prefeasibility study, including a sensitivity analysis, for the Sabara project, studying the potential operation of an open-pit mine and trucking ore to an existing heap leach area and CIC plant in the vicinity. The study currently anticipates a phase 1 project (2.5 years) annual production of 240,000 tonnes of ore after a total investment of approximately $2-million (U.S.). The goal of the joint venture is to begin phase 1 low-cost production within 12 months. The Sabara property is located in Brazil's most prolific mining camp, known as the Quadrilatero Ferrifero (Iron Quadrangle), which is host to numerous gold deposits in banded iron formations. The concessions cover approximately 6,000 acres abutting AngloGold's Lamego area, 40 kilometres east of Belo Horizonte, Minas Gerais. IMS is a Brazilian mining company that controls and/or manages several mineral properties in Brazil. One of the principles of IMS, Juvenil T. Felix, Engo., is a mining engineer with over 35 years of experience. Mr. Felix previously had a long career with Anglo American companies, including positions as president of the gold division of Minorco Brasil and technical director of the Anglo American Group in South America, having overseen diverse operations in addition to those in connection with gold, including copper, nickel, niobium, silver, sulfuric acid and fertilizer.