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")
is pleased to announce the closing of its previously announced bought deal
private placement, including the full exercise of the $3,003,000 Underwriters'
option (the "Offering"). Under the Offering, the Company issued an aggregate of
16,445,000 common shares (the "Common Shares") of the Company at a price of
$1.40 per Common Share for gross proceeds of $23,023,000. 


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 was co-led by Clarus Securities Inc. and Dundee Securities Ltd.,
and included Fraser MacKenzie Limited (collectively, the "Underwriters").


The Underwriters received a total cash commission of 6% of the gross proceeds of
the Offering and were issued a total of 657,800 compensation options (the
"Compensation Options"). Each Compensation Option entitles the holder thereof to
purchase one Common Share at a price of $1.40 per Common Share for a period of
18 months from the Closing of the Offering.


All securities issued pursuant to the Offering are subject to customary
securities legislation hold periods and will not become freely tradeable until
August 30, 2011.


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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