Brazauro Makes Final Payment on Tocantinzinho Acquisition

Brazauro Makes Final Payment on Tocantinzinho Acquisition

Brazauro Resources Corporation has made the final payment under an agreement made February 5, 2007 to acquire ownership of 100% of Mineração Cachambix Ltda.. Brazauro has now completed the acquisition of 100% of the mineral titles covering the Tocantinzinho project. The titles held through Cachambix represent approximately 70% of the Tocantinzinho deposit and are not subject to any third party royalty burden except the Brazilian Government royalty.

Eldorado Gold Corporation is currently conducting an extensive drilling program on the Tocantinzinho Project as part of the initial stage of an option/joint venture agreement under which Eldorado has the option to earn up to a 75% interest in the Tocantinzinho Project by expending $9.5 million on exploration by July 24, 2010 and paying Brazauro up to $100 million on terms described in Brazauro’s news release dated July 9, 2008.

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