On January 7, 2014 the Board of Directors of Brazil Minerals, Inc. elected Luis Mauricio Ferraiuoli de Azevedo, Esq. as a director to fill a vacancy on the Board of Directors. Mr. Azevedo, age 50, is both a licensed lawyer and geologist with 25 years of business and mining experience in Brazil.

He is currently the Managing Partner at FFA Legal, a legal firm he founded with main office in Rio de Janeiro, Brazil, and which is focused solely on natural resources companies. His practice is highly active in mergers in acquisitions for companies owning mineral assets and/or operating mining enterprises in Brazil. His experience spans industrial minerals, diamonds, and precious metals, and he continually works in contact with the high federal levels of all branches of government in Brazil.

Prior to his election to the Board of Directors of the Company, Mr. Azevedo had served on its Board of Advisors since July, 2013. Mr. Azevedo previously worked for Western Mining, Barrick Gold, and Harsco. He assembled land packages that resulted in four initial public offerings of Canadian companies in Brazil (Talon, Avanco, Beadell, and Carnavale) since 2004.

In addition to his Board seat at the Company's Board, he is currently on the Board of Directors of three mining companies: Avanco, Avenue, and Talon Metals. Mr. Bell, age 75, resigned as a director and simultaneously accepted an invitation to join the Company's Board of Advisors. Mr. Bell has served for many years as director of a gold-focused public company prior to joining Brazil Minerals as director.