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Belo Horizonte, Brazil--(Newsfile Corp. - August 9, 2021) - Brazil Minerals, Inc. (OTCQB: BMIX) (the "Company" or "Brazil Minerals"), the Strategic Mineral Resources Company for the Green Energy Revolution, is pleased to report continued progress on its Minas Gerais lithium project, as well as significant steps towards mine development for both quartzite and iron projects held at the Company's subsidiaries.
Lithium: Brazil Minerals has recently purchased its own drill and is hiring personnel for its own field team for drilling dozens of lithium targets identified in exploratory work performed over the last few months. These drilling results will dictate which smaller sub-areas will be further studied with deep drilling from a third-party geological services provider. The Company is seeking to quickly identify its best resource location for mining.
Iron: Brazil Minerals' subsidiary Apollo Resources continues to advance the necessary studies for its initial iron mine. The drilling campaign with 11 drill holes and 15 trenches was concluded a few weeks ago and the technical report with resources is being written. The Company expects this mine to begin operations in Q4 2022.
Quartzite: Brazil Minerals' subsidiary Jupiter Gold has finalized and submitted to the local licensing regulator all studies necessary for its initial quartzite mine. The Company expects this mine to begin operations in Q4 2021.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCQB: BMIX) is an exploration company with two hard-rock lithium projects, as well as projects in other highly strategic minerals such as rare earths, titanium, nickel and cobalt. In addition, Brazil Minerals owns a majority stake in Apollo Resources Corp., a private company developing its first iron mine, and a minority stake in Jupiter Gold Corporation (OTCQB: JUPGF), which is developing two large gold projects and a quartzite mine. Brazil Minerals is well-positioned in the growing ESG space. 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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