Brazilian Resources Announces US$3,000,000Financing.

CONCORD, N.H.--(BUSINESS WIRE)--Sept. 23, 1997--(CDN BZIN ) Brazilian Resources, Inc. ("BRAZILIAN") announced that it has closed on a US $3,000,000 financing agreement with Metal Royalties Corporation (Barbados) ("MRC"), a subsidiary of Toronto-based McCarvill Corporation (MCR-TSE). BRAZILIAN

BRAZILIAN is currently completing the acquisition of a 70 percent interest in the Santa Maria gold mine, a fully permitted, producing open pit operation located in the Brazilian portion of the Guyana Shield within the Vila Nova Group Greenstone Belt. The mine has produced up to 16,000 ounces of gold per year, with production expected to increase over the next year to a rate of 35,000 to 40,000 ounces. BRAZILIAN believes that this property, with a pre-existing reserve and resource estimate of 236,000 ounces of gold, has significant potential at depth and along strike.

Under the terms of the financing agreement, MRC will receive a 4 percent Net Smelter Royalty on the Santa Maria property until principal has been recovered, then a 1.25 percent NSR until 150,000 ounces of gold have been produced, and a 1 percent NSR thereafter. MRC is also entitled to a 1 percent NSR on BRAZILIAN's wholly-owned Sabara property, and the royalty on each property extends for a period of 50 years. In addition, MRC will receive purchase warrants to acquire 1,000,000 common shares of BRAZILIAN at Cdn. $0.40 exercisable for two years.

According to Daniel Titcomb, President and CEO of BRAZILIAN, "We are pleased to be associated with McCarvill Corporation, a global leader in natural resources royalty financing. Further, in a difficult financing environment, we will be able to proceed with the acquisition of the Santa Maria property with little dilution to our existing shareholders. We expect the 4 percent NSR payments to be paid from the first 12 months of production at Santa Maria to be approximately equivalent to 10 percent annual interest on the $3,000,000 royalty principal amount."

BRAZILIAN is a gold and diamond exploration company and emerging gold producer quoted on the Canadian Dealing Network under the symbol "BZIN". BRAZILIAN currently has 35,805,321 common shares outstanding, of which officers and directors control approximately 23 percent.

BRAZILIAN's securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or resold in the United States or to a U.S. person absent registration or an applicable exemption from the registration requirements.

CONTACT: Brazilian Resources, Inc.

Daniel Titcomb, 603/ 224-4800

603/ 228-8045 (FAX)

E-mail: info@brazilianresources.com

Website: http://www.brazilianresources.com

or

Brazilian Resources, Inc.

Jeffrey Kirchhoff, 603/ 224-4800

603/ 228-8045 (FAX)

E-mail: info@brazilianresources.com

Website: http://www.brazilianresources.com