Pasadena, California–(Newsfile Corp. – July 20, 2020) – Brazil Minerals, Inc. (OTC PINK: BMIX) (the “Company” or “Brazil Minerals”) is pleased to announce that it has advanced its Iron Project (described in a prior release) with receipt of an independent technical report on the opportunity prepared by an independent geological consulting firm. This firm’s team spent several days in the project area, and collected multiple samples. The report estimates that the Project area contains 7.4 million tons of iron for a deposit spanning up to a depth of 45 meters.
Additionally, Brazil Minerals has begun a collaboration effort with a university laboratory with expertise in iron concentration and separation processes. The Company is intent on quickly identifying the most cost-effective route for processing for the specific iron mineral found in this project, a key step for operational planning purposes. Currently available data indicates the potential for an operation with annual net profits of up to US$1 million and a mine life between 10 and 20 years. A photograph of one of the formations from the Iron Project is attached below.
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In separate news, Brazil Minerals recently donated 6,038 young trees of over 15 varieties to a municipality in the state of Minas Gerais where the Company operates. In addition, to also benefit the local community, the Company built 500 drainage sumps alongside roads that have no such drainage; this effort eliminates or significantly diminishes potential for flooding in such area during the rainy season.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC PINK: BMIX) has a business model focused on mining specific areas and advancing projects from its portfolio of high-quality mineral rights for transactions leading to royalties and/or equity positions, such as its stake in Jupiter Gold Corporation (OTC PINK: JUPGF). Brazil Minerals, Inc. has projects in iron, lithium, rare earths, titanium, nickel, and placer diamonds and gold. More information on Brazil Minerals is at www.brazil-minerals.com. Follow us on Twitter: @BMIXstock.
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, Brazil Minerals, Inc.’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. We advise U.S. investors that Brazil Minerals’ (and its subsidiaries’) properties and projects, as of now, are exploratory and do not have measured “reserves” as such term is defined by the Securities and Exchange Commission.
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