BGC Brazilian Gold Corporation

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Brazilian Gold Corporation (TSX VENTURE:BGC) ("Brazilian Gold" or the "Company")
today announced that it has entered into an agreement with a syndicate of
underwriters co-led by Clarus Securities Inc. and Dundee Securities Limited and
including Fraser Mackenzie Ltd. (collectively, the "Underwriters"), pursuant to
which the Underwriters have agreed to purchase, subject to certain conditions,
14,300,000 common shares of the Company (the "Common Shares") on an underwritten
private placement basis (the "Offering") at a price of $1.40 per Common Share
(the "Issue Price") for gross proceeds of $20,020,000.


The Underwriters have been granted an option to purchase up to an additional
2,145,000 Common Shares at the offering price for additional gross proceeds of
up to $3,003,000 exercisable at any time up until the second business day prior
to the closing of the Offering.  


The Company will pay the Underwriters a cash commission equal to 6% of the gross
proceeds of the Offering, and will issue to the Underwriters compensation
options (the "Underwriter's Options") equal to 4% of the total number of Common
Shares sold under the Offering.  Each Underwriter's Option will entitle the
holder to purchase one Common Share at an exercise price of $1.40 per Common
Share for a period of 18 months from the closing of the Offering.


The Company intends to use the net proceeds of the Offering to advance the
Company's gold projects in Northern Brazil, and for general corporate purposes.


The Offering is scheduled to close on or about April 29, 2011 and is subject to
certain customary conditions including, but not limited to, receipt of all
required regulatory approvals. The Common Shares will be offered to substituted
purchasers in certain provinces of Canada by way of a private placement pursuant
to applicable prospectus exemptions, and may be offered to U.S. purchasers on a
private placement basis pursuant to an exemption from the registration
requirements in Rule 144A or Regulation D under the United States Securities Act
of 1933, as amended (the "U.S. Securities Act").  The securities issued pursuant
to the Offering will be subject to a 4 month hold period in Canada from the date
of the closing of the Offering.


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of securities in the United States.  The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


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 northern
Brazil including a portfolio of ten grass-roots to development stage gold
projects (8 projects in the Tapajos and 2 projects in the nearby Alta Floresta
Gold Province). Brazilian Gold also owns a 75% interest in the Rea Uranium
Project in northeastern Alberta.


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.

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