Brazauro Closes $8.3 Million Financing

    HOUSTON, March 23 /CNW/ - Brazauro Resources Corporation (TSX
VENTURE:BZO) (the "Company") announced today that it has completed the
Cdn$8,327,999 private placement financing originally announced on February 21,
2007. At closing the Company issued 9,253,333 Units (the "Units") at Cdn$0.90
per Unit, each Unit consisting of one share and one-half of one share purchase
warrant. Each whole warrant will entitle the holder to purchase one additional
share of the Company at $1.60 until March 22, 2008.

    The shares and warrants comprising the Units and any shares issued on
exercise of the warrants are subject to a hold period expiring on July 23,
2007. The Company paid a commission of $375,511, being 7% of the total gross
proceeds in respect of 5,364,444 Units, and paid a referral fee of $38,888,
being 1% in respect of subscriptions for 3,888,889 Units.

    The proceeds from the private placement will be used to continue the
Company's drilling and exploration program at its Tocantinzinho and other
projects in the Tapajos region of Brazil.

    The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended, or the securities laws of any
state, and may not be offered or sold in the United States or to U.S. persons
as defined in Regulation S under the United States Securities Act of 1933, as

    Mark E. Jones, III

    Chairman of the Board

    The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
herein. The news release includes certain "forward-looking statements." All
statements other than statements of historical fact included in this release,
including, without limitation, statements regarding potential mineralization,
exploration results and future plans and objectives of Brazauro Resources are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from Brazauro's expectations are exploration risks detailed herein
and from time to time in the filings made by the Company with securities

For further information:

For further information: Brazauro Resources Corporation, Houston Mark
Jones, Chairman, 713-785-1278

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