Brett Resources Inc.

Brett Resources Inc.

September 08, 2009 15:20 ET

Brett Resources Signs Memorandum of Understanding With the Fort Frances Chiefs Secretariat and the Lac Des Mille Lacs First Nation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2009) - Brett Resources Inc. (TSX VENTURE:BBR) is pleased to announce The Fort Frances Chiefs Secretariat representing the seven First Nations of Couchiching, Lac La Croix, Mitaanjigamiing, Naicatchewenin, Nigigoonsiminikaaning, Rainy River, Seine River; the Lac des Mille Lacs First Nation and Brett Resources Inc. (Brett) have together signed an historic Memorandum of Understanding (MOU) to develop and implement an Impact Benefits Agreement (IBA).

The MOU covers exploration activities being conducted by Brett on its Hammond Reef Gold Project (The Property in north-western Ontario. The Parties as represented by the Chiefs of the First Nation communities and by representatives of Brett are committed to develop a positive relationship, which recognizes the need for all in the relationship to mutually benefit and co-exist.

Subsequent to this MOU the Parties, through a process of mutual respect, ongoing dialogue and regular interaction, wish to develop and implement an IBA to realize their objectives in a mutually beneficial manner.

The IBA will contain amongst other things provisions concerning:

- Support for mineral production within the Property;

- The relationship between the Parties and the impact and benefits of the First Nation communities and their traditional lands;

- A process which sets out the requirements of notice and consultation during the development, construction and operation phase of the Project;

- A process that will enable the affected First Nation communities to access information to satisfy themselves that mining activities which are carried out within their Traditional Territory comply with relevant federal and provincial legislation including compliance with environmental legislation;

- First Nation rights with respect to access to and maintenance of their Traditional Territory without adversely affecting Brett's continuing operations;

- The affected First Nations shall identify and inform Brett of registered traplines and "sensitive sites" having significance to the communities or individuals within the communities, within the area of exploration. Brett will avoid and protect such sites to the extent reasonably possible.

- Identify training needs and human resource capacity within the affected First Nation communities, including employment, business development, investment opportunities, and other related enterprises as both Parties may see fit to include;

- Discussions concerning the potential sources and responsible agencies to work towards the establishment of a social economic fund for the use and benefit of the First Nation communities, with funding to be related in a predictable and reasonable way to the economic scale and value of the exploitation of the resource identified in the area designated as the Property.

- A process for resolving disputes or disagreements arising out of the terms and provisions or the interpretation of the IBA.

"Brett believes that this MOU represents a significant milestone in its ongoing efforts to advance the Hammond Reef Project," said Patrick Soares President and CEO of Brett Resources. "The First Nations of the Fort Frances Chiefs Secretariat and the Lac des Mille Lacs have demonstrated their willingness to work with Brett in building a long term relationship. Together, we are hopeful that the development of the Hammond Reef Project will lead to long lasting benefits in northwestern Ontario."

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. Since 2006 Brett's primary focus has been the 100 percent owned Hammond Reef Gold Deposit in Ontario where a C.I.M. inferred resource of 5.2 million ounces of gold, 155 million tonnes at a grade of 1.04 gram per tonne utilizing a 0.6 gram per tonne gold cut-off has been outlined. The Company will continue to advance this flagship project.

Patrick Soares, President & CEO

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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