Brett Resources Inc.

Brett Resources Inc.

August 01, 2008 14:14 ET

Brett Closes Hammond Reef Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 1, 2008) - Brett Resources Inc. (TSX VENTURE:BBR) is pleased to announce that its acquisition of Kinross Gold Corporation's ("Kinross") interest in the Hammond Reef Gold Project has now closed (See Brett June 2, 2008 news release). As part of the closing transaction, Brett has issued 14 million common shares of the Company to Kinross. Kinross now owns approximately 25.59% of Brett's issued and outstanding common shares.

Brett now holds a 100% interest in Hammond Reef, having already acquired a 60% interest in the property from Kinross pursuant to the exercise of an option granted on March 21, 2006.

"The closing of this transaction along with our recent capital raising will enable Brett to move forward expeditiously with the ongoing work at Hammond Reef," said Patrick Soares, President and CEO of Brett Resources Inc.

Since October of 2006, Brett has completed more than 34,000 metres of diamond drilling at Hammond Reef. Drilling has successfully extended the strike extent of the gold mineralization for more than 500 metres to the northeast and has indicated that mineralized zone is thicker down dip than was previously thought. Brett is currently developing a new resource for Hammond Reef which will be NI 43-101 compliant.

Brett has built a solid relationship with Kinross, not only through their shareholding but through the strategic exploration alliance that has been developed to acquire properties of interest in B.C. and the Yukon.

The terms of the acquisition have already been accepted by TSX Venture Exchange and approved by the Company's shareholders.

About Brett Resources Inc.

Brett Resources Inc. is a Canadian minerals exploration company whose primary mandate is the discovery, acquisition, and development of precious metals systems, with particular expertise in Canada and Latin America. Opportunities in the acquisition of tin and tungsten resources in North America and gold in Ontario have provided diversification to its asset portfolio.


Patrick Soares, President & CEO

Cautionary Statements on Forward-Looking Information.

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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