VANCOUVER, Oct. 3, 2011 /PRNewswire/ - Brazil Resources Inc.
(the "Company") (TSXV: BRI) is pleased to announce that it has
granted incentive stock options to purchase a total of 1,182,500
common shares of the Company (the "Options") to officers,
directors, employees and consultants of the Company. The Options
have an exercise price of $1.20 per
common share, representing the market price of the common shares on
September 30, 2011, and are valid for
a period of five years. 640,000 of the Options were granted to the
Company's directors and officers, of which 25% of the Options vest
immediately with the balance vesting in three equal installments at
the end of each four month period for the next twelve months. The
Option grants 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 release.
SOURCE Brazil Resources Inc.