Brett Resources Options Hammond Reef Gold Property from Kinross.

VANCOUVER, British Columbia -- Brett Resources Inc. (TSX VENTURE:BBR) has entered into an agreement with Kinross Gold Corporation to earn up to a 60% interest in Kinross' Hammond Reef gold property near Atikokan, Ontario. The property comprises 142 claims and leases totalling some 3,785 hectares, and covers a strike length of about 14 kilometres of the favourable structure and stratigraphy which is host to the gold mineralization. Hammond Reef has been subject to historic exploration, including almost eighteen thousand metres of diamond drilling in 83 holes since 1984. This resulted in a series of historical mineral resource estimates based on widely spaced drill intercepts. Historical studies have shown that most of the Hammond Reef gold deposit may be amenable to low-cost open-pit mining methods. In 1997, Roscoe Postle Associates Inc. estimated an inferred mineral resource of 86 million tonnes averaging 0.93 g/t Au (2.6 million ounces gold) at a cut-off grade of 0.4 g/t Au. This mineral resource was estimated prior to the adoption of Canadian Securities Regulators' National Instrument 43-101 and should be considered as historical. The reader is cautioned that the resource estimate in this news release has not been verified by the issuer's qualified person and should not be relied upon.

The terms of the option agreement require Brett to expend a total of US$5,000,000 on exploration and development of the property within four years of execution, with US$1,000,000 to be spent in the first year; and to issue to Kinross a total of 1,000,000 shares of Brett in five equal tranches, the first upon execution and the rest on each anniversary thereof. Upon exercise of the option on the fourth anniversary, a 60/40 participating joint venture will be formed to further develop the property. At that time Kinross will have a one time opportunity to earn back 20% and the right to operate the project, by electing to fund 100% of the next US$5,000,000 in expenditures. Upon completion of this expenditure, the 40/60 joint venture would apply with Kinross holding and funding the majority share.

Widespread gold mineralization on the property is localized in a 100-300 metre wide northeast-trending band of altered granitoid rocks within and adjacent to a persistent strongly foliated schist / fault zone referred to as the Hammond Reef Schist Zone (HRSZ) which dips 30 degrees - 40 degrees to the south. Mineralization occurs as fracture controlled quartz vein stockworks with minor fine pyrite in variably altered foliated granitoid rocks and mafic dykes. Diamond drilling has been concentrated on 2.3 kilometres of strike length at the southwest end of the property where two separate zones up to 110 metres wide are joined by a narrow band of lower grade mineralization.

The south-western zone, labeled A Zone, averages 25-50 metres wide, and locally increases up to 110 metres. The zone has a defined strike length of 750 metres with a down dip extent of 400 metres and is open both along strike and down dip, with apparently increasing grade and thickness down dip as evidenced in drill hole HR 53 which averaged 1.34 g/t Au over 91 metres starting at 224 metres.

Some 950 metres to the northeast along the HRSZ, the 41 Zone extends a further 750 metres along strike, dipping 60 degrees - 70 degrees from surface and flattening to 30 degrees - 40 degrees around 75 metres depth. It varies in thickness up to 60 metres, with local thickening and enrichment in minor flexures, such as 2.39 g/t Au over 57 metres in drill hole HR-54.

Limited trenching is reported in the vicinity of the Hammond Reef Mine (operated in 1897) to the northeast of these zones, but no systematic drilling with modern equipment appears to have been directed at the vicinity of this historic mine and the adjacent Sawbill Gold Mine, both lying along strike to the northeast.

The initial Brett program will incorporate detailed mapping to define the northeast extension of the Hammond Reef Schist Zone, and geochemical sampling to localize surface anomalous gold and associated pathfinder indicators, followed by extensive trenching and drilling. The drilling program will be directed at further defining and upgrading the known zones to industry standard resource categories, as well as extending the known mineralization beyond the two principal areas that have been the focus of past exploration.

The Qualified Person responsible for this news release under the terms of National Instrument 43-101 is Thomas Hasek, P.Eng., President of the company.

About Brett Resources

Brett Resources is a Canadian minerals exploration company whose primary mandate is the discovery, acquisition, and development of precious metals systems, with particular expertise in Latin America. Recent opportunities in the acquisition of tin and tungsten resources in North America are providing diversification to its asset portfolio.

ON BEHALF OF THE BOARD OF DIRECTORS OF BRETT RESOURCES INC.

Thomas Hasek, President & CEO 

Cautionary Statement 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 has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this news release.

Brett Resources Inc. (TSX VENTURE:BBR)

Santoy Resources Ltd. (TSX VENTURE:SAN)