Edmonton, Alberta - Brilliant Resources Inc. (BLT: TSX-V) (the "Company" or "Brilliant") and the Ministry of Mines Industry and Energy of the Republic of Equatorial Guinea ("MMIE") are pleased to announce that Brilliant, through its wholly-owned subsidiary, Ivory Resources Inc. ("Ivory"), has invested in and delivered a final report and digital data set to the MMIE in satisfaction of Ivory's contract to render Air Transported Geophysical Exploration Services ("Airborne Survey") in the continental region of Equatorial Guinea ("Rio Muni") in exchange for a certain preferential right over which the Government of Equatorial Guinea (the "Government") will grant mineral concessions to Brilliant.
On behalf of Brilliant, Fugro Airborne Services ("Fugro") flew a Mega TEM survey of the Rio Muni during 106 clear flying days between November 30, 2010, and December 15, 2011, accumulating 67,518 line kilometers of aeromagnetic, electromagnetic and radiometric data using 400 metre line spacing. In collaboration with Fugro, Apex Geoscience Ltd. ("Apex") and the Government, Brilliant completed an intensive geological and structural interpretation of the geophysical dataset by May 2012, including a six-week field program to validate anomalies and confirm the utility of Mega TEM data as a predictive tool to focus future exploration. The Mega TEM data was then combined with all available historical exploration data to create a comprehensive technical report and dynamic geoscientific database, which were delivered to the Government on October 3, 2012, in exchange for mineral concessions.
This state-of-the-art airborne geophysical survey provides the tools necessary to map rock types, structures and alteration commonly associated with mineralization, allowing for a quick appraisal of the mineral potential of large areas and helping in the geological interpretation of known mineral occurrences. These tools are particularly useful for identifying and prioritizing exploration targets in areas with limited access and/or thick cover, such as the equatorial rainforest of the Rio Muni. The geophysical results will serve as a catalyst for further exploration investment by Brilliant, and serve to attract international investment from other mineral exploration companies. Thereby generating continuous, systematic and modern exploration, which may lead to the discovery of economic deposits and ultimately to development of a productive mining industry in the Republic of Equatorial Guinea.
Diversification of the economy of Equatorial Guinea through development of its mining industry is a key component of the Government's Horizons 2020 strategy. The benefits of mineral exploration have already been demonstrated during the Airborne Survey with Brilliant's delivery of a geophysical training program and tour of an advanced exploration project for MMIE technicians in northern Canada, as well as the technology transfer between Brilliant and MMIE technicians during the field program in Equatorial Guinea, a software training program for MMIE technicians to utilize the geophysical database and support services being delivered by citizens in the communities that hosted the field operations. The success of the program to date is a credit to the productive collaboration between Brilliant, its associates and investors, many Government Ministries, community leaders and citizens. The MMIE and Brilliant are looking forward to continuing their mutual collaboration in the coming months.
About Brilliant Resources Inc.
Brilliant Resources Inc. (BLT: TSX-V) is a well-funded exploration company in search of resource opportunities worldwide. Brilliant is currently pursuing an innovative growth strategy in West and Central Africa, whereby it has acquired exclusive and preferential rights to explore for resources in Equatorial Guinea in exchange for the delivery of a national airborne geophysical survey. Driven by an internationally experienced technical and management team, Brilliant is well-positioned for the discovery and development of high quality mineral and hydrocarbon prospects.
On behalf of the Board of Directors
John Williamson, P. Geol.
Chairman and CEO
Brilliant Resources Inc.
For further information about Brilliant Resources Inc. or this news release, please visit our website www.brilliantresources.com or contact:
President and COO
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Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Brilliant in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Brilliant's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Brilliant disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.