BGC Brazilian Gold Corporation

VANCOUVER, Nov. 24 /CNW/ -- VANCOUVER, Nov. 24 /CNW/ - Brazilian Gold Corporation (TSXV: BGC) ("Brazilian Gold" or the "Company") is pleased to announce they have collared the first hole of the São Jorge Phase One (5,000 m) diamond drill program. The drill program is designed to test the down dip extension of the existing resource, which extends from surface to approximately 200 metres depth, to 300 metres below surface. The inclined holes will be collared from the south side of the deposit and drilled towards the north along sections space 50 metres apart and will range from approximately 300 to 500 metres in length. Concurrent with the drill program, the Company has begun a program of sampling intervals not previously sampled in historic drill holes. These un-sampled intervals fall between previously sampled mineralization and within the grade shell (0.3 g/t gold) of the recently updated resource estimate completed by Coffey Mining (Sept. 14, 2010), where they were given an arbitrary value of 0.01 grams/tonne gold. The sampling of these intervals, while not expected to increase the resource grade by a significant amount, will have a positive effect on the overall grade of the deposit. Geophysical and geochemical surveys will be completed in conjunction with the Phase One drill program to identify along strike extensions to the deposit and new areas of mineralization on this largely unexplored property. These surveys are planned to start in Q1-2011. Contingent on the results of the above program, a Phase Two (3,000 m) drill program will be completed with the objective of completing an updated resource estimate and Preliminary Economic Assessment by the end of 2011. The São Jorge deposit consists of a structurally controlled quartz-sulphide stockwork system that is approximately 700 metres long by 60 metres wide and has been traced down dip to depths of 200 metres below surface by diamond drilling. The stockwork system is steeply dipping and has an orientation of AZ290° similar to the regional trend and is open at depth and potentially along strike to the northwest and southeast. Gold mineralization has a strong correlation with quartz-sulphide vein frequency; sulphides are mainly pyrite with minor amounts of chalcopyrite. Alteration is zoned laterally outwards from strong potassic alteration associated with the most intense quartz veining and silica flooding through quartz-sericite and propylitic alteration where the quartz vein density is lower. The deposit hosts an updated NI43-101 indicated resource of 343,000 ounces (8.3Mt grading 1.3 g/t gold) and an inferred resource of 458,000 ounces (12.6 Mt grading 1.1 g/t gold) using a 0.5 gram/tonne cut-off that was recently completed by Coffey Mining (Sept. 14, 2010); the report is available for downloading on the Company's website and on SEDAR. 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 C$6.9 million in cash and investments, which will be used to explore their nine gold projects (São Jorge, Boa Vista, Surubim, Rio Novo, Pista Manual, Piranhas, Ouro Mil, Batistão and Colider) 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$2.84 million in expenditures by Dec. 31, 2013. For more information on the Company, please visit its website at http://www.braziliangold.ca. 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. p/p p align="justify"Brazilian 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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