An anonymous director reports

BRAZIL RESOURCES COMPLETES OVERSUBSCRIBED PRIVATE PLACEMENT

Further to the news release dated Feb. 29, 2016, Brazil Resources Inc. has completed the second and final tranche of its previously announced private placement for total additional proceeds of $1,106,977.50, consisting of 2,459,950 common shares issued at a subscription price of 45 cents per share. As a result of oversubscriptions, the total size of the private placement was further increased to $4.5-million, comprising 10 million common shares of the company. The common shares issued under the private placement will be subject to a hold period expiring four months plus one day from closing.

As announced on Feb. 29, 2016, the company previously closed the initial tranche of the private placement, consisting of 7,540,050 common shares of the company for gross proceeds of $3,393,022.50.

In connection with the final tranche, the company paid cash commission equal to 6 per cent on a portion of the gross proceeds raised thereunder to certain arm's-length parties in the aggregate amount of $1,985 in accordance with the policies of the TSX Venture Exchange. The total finders' fees paid under the total $4.5-million private placement were $42,485 to such arm's-length parties. The common shares issued under the private placement will be subject to a hold period expiring four months plus one day from closing, being June 27, 2016, in the case of the initial tranche, and July 12, 2016, in the case of the final tranche, in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws and such other restrictions as may apply under foreign securities laws.

The company intends to use the net proceeds from the private placement to advance its corporate strategy, including expenses associated with the exploration of its existing projects and the acquisition of additional projects, and for working capital, and general corporate purposes.

We seek Safe Harbor.