BRAN GOLD : BRASCAN ANNOUNCES CHANGE OF DIRECTORS

Brascan Resources Inc. has appointed Jo Shearer to the board of directors of the company and Eric Warren has resigned.

Jo Shearer has over 45-years experience in geology, successful exploration and production. Since 1986 he has contracted his services through Homegold Resources Ltd. Jo's geological experience covers open pit and underground precious metals, copper, lead/zinc and a focus on numerous industrial minerals (phosphate, silica, shale, mica, talc, sand & gravel, roofing granules, cement raw materials, limestone and gypsum). He has designed and operated open cut quarries for cement raw materials, limestone and gypsum. Jo has directly supervised various projects with up to 24 man crews in remote areas of Yukon and Northern BC for major drilling, trenching, bulk sampling and road building projects. He has also completed numerous projects in Nevada, Missouri and Texas. He is experienced in mine reclamation and working with local indigenous First Nations groups. He is a fellow of the Geological Association of Canada, Geological Society of London, Canadian Institute of Mining and Metallurgy, Elected Fellow of the Society of Economic Geologists and a registered P.Geo. (BC & Ontario). Mr. Shearer holds a M.Sc. degree from University of London, Imperial College and a B.Sc. Honours from the University of British Columbia.

In connection with Mr. Shearer's engagement, the Company has granted (the "Options Grant") him 250,000 common share purchase options (the "Options"), each exercisable at $0.05 for a period of two years.

The Options Grant constituted a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on section 5.5(b) of MI 61- 101 for an exemption from the formal valuation requirements of MI 61- 101 in respect of the Options Grant, as no securities of the Company are listed on a specified market as defined in MI 61- 101. The Company relied on section 5.7(a) of MI 61-101 for an exemption from the minority approval requirements of MI 61-101 in respect of the Options Grant, as neither the fair market value of the subject matter of, nor the fair market of the consideration for, the Options exceeded 25% of the Company's market capitalization.

The material change report to be filed in relation to the Options Grant was not filed at least 21 days prior to the completion of the Options Grant as contemplated by MI 61-101. The Company believes that this shorter period is reasonable and necessary in the circumstances, as the completion of the Options grant occurred shortly before the issuance of this news release and the Company needed to effect the Options Grant in connection with Mr. Shearer's appointment.

The Company would like to thank Mr. Warren for his service and wishes him the best in his future endeavours.

About the Company

Brascan (CSE: BRAS) is a Lithium and Gold exploration issuer based in Vancouver, B.C. BRAS owns a 100% interest in the Quebec-Li properties in northern Quebec. The Company also owns 100% of the Albany Forks Rare Earth Elements (REE) property in northern Ontario, options to earn 100% interests in two lithium properties in Minas Gerais State in Brazil and an option to earn 100% of the Alegre Gold Project in Para State in Northeastern Brazil.