BGC Brazilian Gold Corporation

VANCOUVER, Oct. 20 /CNW/ -- VANCOUVER, Oct. 20 /CNW/ - Brazilian Gold Corporation ("Brazilian Gold" or "Company") is pleased to announce they have received final approval from the stock exchange on the transaction to purchase Regent Brazil Holdings Limited (Regent Brazil). As previously announced on June 15 and August 9(th), 2010 (News Releases 8/10 and 13/10, respectively), the terms of the agreement require Brazilian Gold to issue ten million shares of Brazilian Gold to the shareholders of Regent Brazil to acquire 100% of the company. Regent Brazil holds title through direct ownership and option agreements to a number of gold projects in southern Pará (Jamanxim Project) and northern Mato Grosso (Peixoto Project) states of Brazil. The Jamanxim Project consists of 6 properties (Piranhas, Anta, Tucunaré, Rio Novo, Mariazinha and Pista São Paulo) and the Peixoto Project consists of 2 properties (Batistão and Colider). The management team of Regent Brazil, which individually have twenty-five to forty years of experience working in the mining business of Brazil, have agreed to work with Brazilian Gold in managing the exploration programs. The management of Brazilian Gold is extremely pleased to have acquired this extensive land package (97,000 Ha) and to work with the management team of Regent Brazil. The widespread garimpeiro workings on many of the properties, significant drill intersections on the Tucunaré and Batistão properties, and gold-rich stockwork mineralization exposed in pits on the Rio Novo property suggest there is a high potential to identify a gold deposit on one or more of the properties. These projects along with Brazilian Gold's other nearby projects (São Jorge, Ouro Mil and Boa Vista) provide the Company with a portfolio of road accessible, high quality exploration projects in the Tapajós Mineral Province (TMP), as well as a gold resource at São Jorge that is open for expansion. The TMP was the focus of a gold rush from the 1970's through the 1990's, where unofficial gold production primarily from alluvial deposits is estimated to be 30 million ounces. More recently, with the increase in the gold price, the TMP has seen junior and mid tier mining companies exploring for the primary sources of these alluvial deposits in this largely un-explored Proterozoic to Precambrian terrain. Brazilian Gold plans an extensive exploration program and is currently in discussions with geophysical and drill contractors, which will be mobilized to the field in the fourth quarter of 2010. Initially, an induced polarization survey and a diamond drilling program (2,500m) are planned for the Rio Novo property to test wide spread gold-rich stockwork mineralization exposed in garimpeiro pits. Exploration programs on the remaining properties are being developed and are planned to start in the first quarter of 2011. Garnet Dawson, M.Sc., P.Geo. (British Columbia), Vice President, Exploration for the Company and a Qualified Person, as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this News Release. About Brazilian Gold Corporation Brazilian Gold Corporation is a Canadian based public company with a focus on acquisition, exploration and development of mineral properties in the Tapajós region of Northern Brazil. The Company has approximately Cdn$7.5 million in cash, which will be used to explore their five gold projects (Boa Vista, São Jorge, Jamanxim, Peixoto and Ouro Mil) in Brazil. Brazilian Gold also owns a 75% interest in the Rea Uranium Project in northeastern Alberta, which is currently being operated by AREVA, who are earning up to a 50% interest by completing an additional Cdn$2.84M in expenditures by Dec. 31, 2011. Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. Neither Toronto Stock Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Venture Exchange) accepts responsibility for the adequacy or the accuracy of this news release. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/October2010/20/c3976.html pBrazilian Gold Corporationbr/ Alvin Jackson, Chairman and Chief Executive Officerbr/ Tel: +1 604 602-8188/p p align="justify"Investor Relationsbr/ Tom Hartbr/ Tel: +1 403 701-4278/p

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