Brilliant Resources Inc.
TSX VENTURE : BLT

Brilliant Resources Inc.

January 30, 2015 11:05 ET

Brilliant Provides Update on Agreement With Government of Equatorial Guinea

EDMONTON, ALBERTA--(Marketwired - Jan. 30, 2015) - Ivory Resources Inc. (the "Company" or "Ivory"), a wholly-owned subsidiary of Brilliant Resources Inc. (TSX VENTURE:BLT), has received numerous inquiries from stakeholders regarding the timing of the first installment payment of US$11.5 million owed to it by the government of the Republic of Equatorial Guinea (the "Government") under the terms of the agreement reached with the Government that was announced on January 22, 2015.

As disclosed on January 22, 2015, under the terms of the agreement reached between Ivory and the Government, the Government agreed to pay Ivory US$31.5 million in cash in three installments. The first installment was due seven days after the signing of the agreement, the second installment of US$10 million is payable in a further thirty days and the final installment of US$10 million is payable within thirty days thereafter. Based on discussions with representatives of the Government, the Company understands that the first installment will be received shortly. We understand that the delay is due to logistical issues. The Company has been assured that the Government will make all required payments and comply fully with the terms of the agreement. The Company will not provide any further updates on this matter until it receives the first installment or as required by applicable law.

For further information about Brilliant Resources Inc. or this news release, please visit our website www.brilliantresources.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the receipt of funds by the Company from the Government. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and, accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include, but are not limited to, failure by the Government to adhere to the terms of the agreement reached with the Company; political, economic and other risks; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Brilliant disclaims any obligation to update or revise any forward-looking information or statements except as may be required by applicable law.

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