Mr. Garnet Dawson reports

BRAZIL RESOURCES REPORTS INDEPENDENT NI 43-101 RESOURCE ESTIMATE FOR ITS RECENTLY ACQUIRED WHISTLER PROJECT, ALASKA

Brazil Resources Inc. has released the results of a National Instrument 43-101-compliant mineral resource estimate for the Whistler deposit, one of several gold-copper porphyry deposits identified on the Whistler project, Alaska. As previously announced, the Whistler project was acquired by Brazil Resources from Kiska Metals Corp. pursuant to an asset purchase agreement. The resource estimate confirms the historical estimate completed for Kiska as disclosed by the company in its news releases dated July 21 and Aug. 6, 2015.

Garnet Dawson, chief executive officer, stated: "We are pleased to report this multimillion-ounce resource estimate for the Whistler deposit from a very small portion of our 170-square-kilometre 100-per-cent-owned project. The Whistler deposit is one of several porphyry centres (Raintree West, Raintree East, Rainmaker and Island Mountain) identified on the property, and future exploration programs will focus on developing a better understanding of their size potential. The close proximity (less than three kilometres) of the Raintree and Rainmaker mineralization to Whistler will substantially enhance the value of the ounces already identified at Whistler. The company continues to progress our long-term strategy and is reviewing projects in the Americas for potential acquisition during this low point in the commodity cycle."

Whistler resource estimate

Brazil Resources engaged Moose Mountain Technical Services to prepare an independent National Instrument 43-101 technical report, including the resource estimate on the Whistler deposit. The resource estimate is based on 48 diamond drill holes (19,870 metres) and has an effective date of Aug. 15, 2015 (see the table).

         WHISTLER DEPOSIT NI 43-101 PIT-CONSTRAINED RESOURCE ESTIMATE

                                    Tonnes and grade          Contained metal

Resource  Tonnes    Au    Ag    Cu       AuEq     Au     Ag     Cu       AuEq
category    (Mt) (g/t) (g/t)   (%)  (1) (g/t)  (Moz)  (Moz)  (Mlb)  (1) (Moz)

Indicated   79.2  0.51  1.97  0.17       0.88   1.28   5.03    302       2.25
Inferred   145.8  0.40  1.75  0.15       0.73   1.85   8.21    467       3.35

Notes:

1. Gold equivalent grade calculation for the Whistler project resource was based on 75-per-cent recovery for gold and silver, 85-per-cent recovery for copper, $990 (U.S.) per ounce for gold, $15.40 (U.S.) per ounce for silver, and $2.91 (U.S.) per pound for copper.
2. Totals may not represent the sum of the parts due to rounding.
3. The mineral resources have been prepared by Moose Mountain Technical Services in conformity with CIM Definition Standards for Mineral Resources and Mineral Reserves 2014.
4. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.

The Whistler deposit is a structurally controlled porphyry deposit with gold, copper and silver as the primary economic metals. There have been three major intrusive episodes that define the mineralization at Whistler, with the earliest diorite phase being associated with the majority of the mineralization. A major northwest-trending fault (Divide fault) separates the mineralization into two domains, which were modelled separately.

The resource was modelled utilizing a block model with individual blocks measuring 20 m by 20 m by 10 m. Compositing of gold, silver and copper grades was completed over five m intervals, honouring the domain boundaries, with composite statistics compiled for comparison with assay and block model data. The composites were used to create variograms for gold, copper and silver, in order to help define rotation and search parameters for the block model interpolation. Interpolation of gold, silver and copper grades was done by ordinary kriging in two passes based on the variogram parameters. Interpolation was restricted by the diorite solid, with composites also restricted within each diorite domain. The conceptual pit-delineated resource is reported within a conceptual pit shell with 45-degree pit slope angles resulting in a strip ratio of 1.3:1 (waste to ore) using a $7.50 per tonne cut-off or approximately a 0.3-gram-per-tonne-gold cut-off. Specific gravity values were based on 21 laboratory measurements by ALS Chemex to give an average density of 2.72 for ore and 2.60 for waste.

Validation of the model was completed by comparison of the block model values with declustered composite values, with values interpolated by inverse distance, by comparison with swath plots, grade-tonnage curves, and by visual inspections in section and plan across the deposit.

Quality control/quality assurance program

The resource estimate was based on drill programs completed by previous operators that incorporated control samples including blanks, duplicates and standards as part of their quality control/quality assurance program. The control samples from these programs have been reviewed and verified by the qualified persons, and the assay results were deemed suitable for resource estimation.

Qualified person statement

The resource estimate disclosed herein was prepared for Brazil Resources by Susan Bird, PEng, and Robert Morris, PGeo, of Moose Mountain Technical Services and Alan Riles, BMet, MAIG, who are qualified persons as defined in NI 43-101, are independent of the company, and have reviewed and approved the disclosure regarding the Whistler resource estimate.

A technical report respecting the above resource estimate will be filed under the company's profile on SEDAR in due course. There is no new material scientific or technical information respecting the Whistler deposit since the effective date of the resource estimate.

Paulo Pereira, Brazil Resources' president, has reviewed and approved the technical information contained in this news release. Mr. Pereira holds a bachelor's degree in geology from Universidade do Amazonas in Brazil, is a qualified person as defined in National Instrument 43-101 and is a member of the Association of Professional Geoscientists of Ontario.

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