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by Stockwatch Business Reporter

New York spot gold fell $11.20 to $1,340.90 on Friday. The TSX Venture Exchange slipped 4.47 points to 833.11 while the TSX Gold Index lost 3.87 points to 264.93. Canadian gold miners drifted lower today with bullion. Agnico Eagle Mines Ltd. (AEM) fell $1.55 to $72.21 on 804,000 shares while Barrick Gold Corp. (ABX) fell 40 cents to $26.48 on 4.65 million shares.

Amir Adnani and Garnet Dawson's Brazil Resources Inc. (BRI), down 10 cents to $2.41 on 467,000 shares, is acquiring the Titribi gold and copper project in Colombia from NovaCopper Inc. (NCQ: $0.78). Brazil Resources will issue five million shares to NovaCopper, along with one million warrants exercisable at $3.50 for two years. (The shares put the value of the deal at just over $11-million.) Mr. Adnani, chairman of Brazil, said he was pleased to acquire "such a large-scale gold project," adding that the deal is a major step toward realizing the company's vision of consolidating quality gold assets and maximizing gold leverage for its shareholders.

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