PASADENA, Calif., Oct. 30, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that its main site alluvial diamond and gold mining operation has started recovery of raw diamonds and fine gold. The concentrations obtained in processing of diamondiferous and auriferous gravel at the nearby recovery plant are increasing as sequentially lower levels of such alluvial material are reached. Attached to this release is a recent photograph of the main excavation site. All equipment used in this operation belongs to the Company (or its subsidiaries) and therefore production costs are relatively low.
The successful implementation to date of this initial site has permitted the Company to proceed on two important developments. The first is the ongoing work on an expansion of the licensing of the current site to adjacent highly-attractive areas identified on selected drilling. The second is the multi-factorial evaluation of all of the Company’s similar areas in the Jequitinhonha Valley (over 27,000 acres for diamond and gold among multiple mineral rights) to identify where to locate a second mining operation.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) has a business model focused on: 1) mining specific areas for diamonds and gold, and 2) 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: JUPGF). Brazil Minerals, Inc. has projects in lithium (17,000+ acres), rare earths (12,000+ acres), titanium, nickel, iron, 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.
CEO, Brazil Minerals, Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5bcad8ed-c309-4ab9-b6eb-ea78bf72c3ba