Mr. Jo Shearer reports

BRASCAN ANNOUNCES CONSOLIDATION, NAME CHANGE AND CORPORATE UPDATE

Brascan Resources Inc. has arranged a proposed consolidation of the company's issued and outstanding shares on the basis of one postconsolidation share to 10 preconsolidation common shares. In connection with the consolidation, the company's name will be changed to Nordique Resources Inc. and the symbol under which the company's common shares trade will change to NORD.

The company currently has 50,086,310 common shares outstanding and will have approximately 5,008,631 common shares outstanding after completion of the consolidation, subject to rounding and the elimination of any fractional shares resulting from the consolidation. The number and exercise price of outstanding stock options and warrants of the company will similarly be adjusted by the consolidation ratio.

The consolidation and the name and symbol change are subject to the acceptance of the Canadian Securities Exchange (CSE).

Corporate update

The company further announces that Balbir Johal has chosen to resign from his role as a director of the company, effective immediately. In succession to Mr. Johal, the company is pleased to appoint Geoff Balderson to the company's board of directors. Mr. Balderson has resigned from his previous position as CFO. Additionally, Steven Nguyen will be assuming the role of CFO, replacing Mr. Balderson.

Geoff Balderson, director

Mr. Balderson serves as the CFO and director of several publicly traded companies in a variety of industries and is instrumental in managing the financial operations as well as the integrated business strategies. He is the founder and president of Harmony Corporate Services and has been involved in the capital markets for 25 years, possessing a solid background in corporate compliance.

Steven Nguyen, CFO

Mr. Nguyen is an experienced accounting professional with expertise in audit, accounting, tax and financial reporting in several industries including apparel, food, various consumer products and resource exploration. Mr. Nguyen is the president of Nuyun consulting Corp., a Vancouver-based company that provides financial reporting services to publicly listed companies. He also acts as an officer for both NEO and Canadian Securities Exchange-listed companies. Previously, Mr. Nguyen worked in the public company audit team at Crowe MacKay for four years. Mr. Nguyen is a chartered professional accountant (CPA) and holds a bachelor of business administration from the Beedie School of Business at Simon Fraser University. The company would like to thank Mr. Balbir for his contribution and wish him well in his future endeavours.

About Brascan Resources Inc.

Brascan (CSE: BRAS) is a lithium and gold exploration issuer based in Vancouver, B.C. Brascan owns a 100-per-cent interest in the Quebec lithium properties in Northern Quebec and a 100-per-cent interest in the Albany Forks rare earth elements (REE) property in Northern Ontario.

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