BELO HORIZONTE, BRAZIL–(Marketwired – Aug 27, 2014) – Brazil Minerals, Inc. (OTCQB: BMIX), (the “Company” or “BMIX”), a U.S. holding company with revenues from gold and diamonds, announced today that its subsidiary, Mineração Duas Barras Ltda. (“MDB”), had hired additional mine workers to be able to process for gold and diamonds every day of the year, including weekends and holidays. MDB operates an open pit mine and its plant is the largest alluvial processing plant for gold and diamonds in Latin America.
Under the work plan started this week, the gold and diamond processing and recovery plant now runs with two teams of workers, each team working for four days at a time and then rotating with the other team. This allows the plant to run every calendar day, producing gold and diamonds from gravel mined nearby by MDB’s excavation team. The excavation team remains with one team of workers during the workweek. One day of excavation generates two to five days of materials for the recovery plant.
MDB mines conflict free diamonds and gold, and sells rough and polished diamonds and 96% purity gold. It owns mineral rights encompassing approximately 1,404 acres, including a fully-operational mining concession. MDB has NI 43-101 technical reports and a bankable feasibility study on file with the local mining authority. It also has the permit to export its production of rough or polished diamonds.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCQB: BMIX) is a U.S. holding company with revenues from gold and diamonds and ownership of interests in projects in diamonds, gold, titanium, vanadium and iron in Brazil. In particular, BMIX owns 86.88% of Mineração Duas Barras Ltda. (“MDB”), a Brazilian producer. MDB mines conflict free diamonds and gold, and sells rough and polished diamonds and 96% purity gold. MDB has a fully-operational mining concession and the permit to export its production of rough and polished diamonds. More information on BMIX can be found 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 estimates of Indicated and Inferred Mineral Resources of Diamonds and Gold as found in MDB’s NI 43-101 Technical Reports.
We advise U.S. investors that while these terms and amounts are recognized by Canadian regulations, the U.S. Securities and Exchange Commission (“SEC”) 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 defined by the U.S.’s Industry Guide 7.
Cautionary note regarding estimates of Mineral Reserves of Diamonds and Gold as found in MDB’s Bankable Feasibility Study.
We advise U.S. investors that while these terms and amounts are recognized by Brazilian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in this category will ever be converted into mineral reserves as defined by the U.S.’s Industry Guide 7.