Mr. de Angelis Earlier Served as Minister of Regional Politics in the
Company Enters into Investor Relations Agreement
VANCOUVER, May 31, 2011 /CNW/ - 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 Angelis' appointment, Amir Adnani, Chairman, stated, "Ovidio's
leadership experience in the many levels of Brazil'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
Brazil'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
Bachelor's degree in Law from the Federal University of Goias, College
The Company is also pleased to announce that it has entered into an
investor relations agreement (the "Agreement") 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
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 Company's principal property is the
Montes Áureos project, located within the Gurupi Gold belt in the state
of Maranhão, Brazil.
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
SOURCE Brazil Resources Inc.
For further information:
Telephone: (604) 227 1124