Mr. Balbir Johal reports

BRASCAN ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Brascan Resources Inc. has completed a non-brokered private placement of 4,357,142 units at a price of 3.5 cents per unit for gross proceeds of $152,500. Each unit consists of one share and one transferable share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share of the company for a period of two years expiring on June 16, 2025, at a price of seven cents per share. No finders' fees or commissions were paid in connection with completion of the financing.

The company intends to use the proceeds from the financing for exploration expenditures on the Iceberg VTM project, the Quebec-Li and Brazil-Li lithium properties in Quebec and Brazil and the Alegre gold property and for business development and general corporate purposes.

All securities issued in connection with the financing are subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law until Oct. 17, 2023.

Kelly Burr subscribed for an aggregate one million units for gross proceeds of $35,000 in the financing. Such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the private placement by insiders does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

About Brascan Resources Inc.

Brascan is a lithium and gold exploration issuer based in Vancouver, B.C. Brascan owns a 100-per-cent interest in the Quebec-Li properties in Northern Quebec. The company also owns 100 per cent of the Albany Forks rare earth elements (REE) property in Northern Ontario, options to earn 100-per-cent interests in two lithium properties in Minas Gerais state in Brazil and an option to earn 100 per cent of the Alegre gold project in Para state in northeastern Brazil.

We seek Safe Harbor.