Edmonton, Alberta – Brilliant Mining Corp. (BLT: TSX-V) (the "Company" or "Brilliant") is pleased to announce that more than 55,000 (80%) of approximately 68,000 total line kilometres have been flown during its ongoing geophysical survey of mineral potential for the continental Rio Muni region of Equatorial Guinea (“EG”) in West-Central Africa.
Brilliant CEO, John Williamson, stated, “We consider EG to be a rich geological environment with a clear political mandate to diversify its economy beyond off-shore petroleum by 2020. We are pleased to be a partner of choice for this ground breaking endeavor and look forward to developing a long and fruitful relationship between EG and our investors. After an extended period of data collection, the preliminary results are encouraging and we are now turning our attention to processing the data, prioritizing targets and exercising our exclusive rights in EG in order to commence ground exploration early in 2012.”
Brilliant expects that survey flights will be completed by November of 2011 and the Company will then compile and analyze results to deliver a report to the Government of EG on the geological potential of the country in exchange for exclusive rights to select mineral and/or hydrocarbon targets resulting from the survey for further exploration and development.
Flight production since January 2011 has averaged between 200 and 300 line kilometres per day due to weather delays typical of the equatorial west-coast rainforest. With the rainy season coming to a close in EG, daily flight production is expected to improve through completion of the remaining 13,000 line kilometres, which will cover approximately half of the most prospective terrane based on the locations of the known mineral occurrences.
The territory of Equatorial Guinea includes the islands of Bioko, Annobon, Corisco, Elobey, and Mbane, and the mainland enclave of Rio Muni, which is bordered to the north by Cameroon and to the south and east by Gabon. The total surface area of the country is 28,051 km2, with mainland Rio Muni accounting for approximately 26,000 km2. Beyond its oil and gas potential, the Rio Muni offers the wide variety of largely untested mineral potential that is expected on an Archaean cratonic setting with later Pan-African overprinting; with possibilities for gold, diamonds, columbo-tantalite, platinum-group elements, bauxite and base metals.
Brilliant has commenced detailed processing, geological interpretations and target generation for areas over which the survey has been completed. It will take several months to complete this process due to the sheer scale of the project. However, the initial data quality from the survey appears good, and will improve with additional processing and interpretation. The resulting data sets are many times higher resolution than the historical data and have already shed light on known occurrences as well as identified new areas of potential.
About Equatorial Guinea
The Republic of Equatorial Guinea is the only Spanish-speaking country in Africa, and one of the smallest nations on the continent. In the late-1990s, American companies helped discover the country's oil and natural gas resources, which only within the last five years began contributing to the global energy supply. The United States has become the largest cumulative bilateral foreign investor in EG, which supplies 17% of US natural gas, with investments estimated at over $12 billion. With its newfound petroleum wealth, Equatorial Guinea is now working to serve as a pillar of stability and security in its region of West Central Africa.
President Teodoro Obiang Nguema Mbasogo is Chairman of the African Union and the capital city Malabo is the home of the Community Parliament of CEMAC, the Economic Community of Central African States. The country hosted the 2011 Summit of the African Union and substantial investment is being made to improve infrastructure and the standard of living throughout the country, including highways, electricity networks, potable water, sanitation, and schools. Infrastructure projects and constitutional reform are part of the government's multi-year Horizon 2020 development plan, put in motion by President Obiang, which strives to make Equatorial Guinea an emergent and sustainable economy by 2020. For more information, visit www.guineaecuatorialpress.com .
About Brilliant Mining Corp.
BRILLIANT MINING CORP. (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 recently acquired exclusive 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, as well as a newly Âfinanced treasury, Brilliant is well positioned for the discovery and development of high quality mineral and hydrocarbon projects.
On behalf of the Board of Directors
John Williamson, P. Geol.
CEO, President & Director
Brilliant Mining Corp.
For further information about Brilliant Mining Corp. or this news release, please visit our website www.brilliantmining.com or contact:
Director of Corporate Development
Toll Free: 1-888-331-2269
Brilliant Mining Corp. is a member of the Discovery Group of Companies, for more information on the group visit www.discoveryexp.com.
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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.