Brandon gains option in Mexico

Brandon Gold (BG-V) can earn up to a 60% interest in the Guerrero concession, in the southern Mexican state of Guerrero.

Under an agreement with Miranda Mining Development and Mexican-based Miranda Royalties, Brandon will make an initial payment of US$150,000 and agree to work commitments totalling US$4 million, as well as issue 200,000 shares in instalments to Miranda by April 18, 2002.

Miranda Royalties is an 80%-owned subsidiary of Miranda Mining Development and will retain a sliding-scale royalty of between 2% and 5%.

The 40,000-ha property lies 20 km northwest of Brandon’s Caracol concession and 35 km east of Pinsan Morado. Caracol adjoins the southern border of the Alina project, owned by Farallon Resources (FAR-V).

There is evidence of several old gold and polymetallic prospects at Guerrero, and Brandon plans to start exploration immediately, to be financed by a recent, $3.6-Million, non-brokered private placement.