TORONTO, Nov. 19 /PRNewswire-FirstCall/ - BRYN Resources Inc (PINKSHEETS: BRYN) (PINKSHEETS: BRYN.PK). Bryn Resources Inc is pleased to announce that it has finalized the terms of a letter of intent with Prospera Management Corp. and both Bryn Resources and Prospera have executed the LOI. Pursuant to the LOI Prospera will raise $2,000,000, being all of the funds required to satisfy Bryn Resources obligations under the LOI agreement entered into with Cayenne Gold Mines Ltd. thereby crystallizing Bryn's 45% interest in The Windflower Property. The funding by Prospera is to match the requirements of Bryn Resources under its LOI with Cayenne.

The LOI with Prospera includes conditions for repayment of the funds advanced to Bryn Resources from the proceeds of the processing of the 10,000 ton bulk sample. Under the terms of the LOI with Cayenne, the processing will be initiated upon the execution of the JV Agreement between Bryn Resources and Cayenne the final terms of which are now being finalized.

Bryn Resources has by this LOI completed the steps necessary to earn its 45% interest in the Cayenne property and further its objectives as an exploration company. Bryn Resources continues to negotiate with Cayenne in respect to its other holdings.

Bryn Resources is also in negotiations with financiers in a bid to raise the funds necessary to participate in the balance of Cayenne's properties with proven reserves, including options on the additional 30,000 oz of proven gold mineralization which at present values would generate $33,000,000 subject to extraction costs. Bryn Resources continues to investigate the procurement of additional properties and options.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from to time in the Company's periodic reports filed with the Securities and Exchange Commission.

SOURCE Bryn Resources