Brionor Closes the Atala Acquisition and 1st Tranche of Financing

TORONTO, ONTARIO--(Marketwired - May 9, 2017) - Brionor Resources Inc. ("Brionor" or the "Company") (TSX VENTURE:BNR) is pleased to announce the closing of (i) its acquisition of Atala Resources Corporation ("Atala"), a private Ontario mining exploration company that holds a portfolio of exploration properties in Santa Cruz Province, Argentina, and (ii) the first tranche of its concurrent private placement financing for minimum proceeds of $680,000 and maximum proceeds of $1,000,000 (the "Offering") (See Press Releases of the Company dated March 2, 2017 and May 3, 2017 for more details on the transaction and the Offering). Brionor entered into a Definitive Share Purchase Agreement (the "Agreement") dated March 1, 2017 with Atala and the shareholders of Atala (the "Atala Shareholders"); whereby Brionor proposed to acquire (the "Acquisition") all of the issued and outstanding shares of Atala. The value attributable to this Acquisition is approximately $750,000 as Brionor will issue $300,000 in Brionor common shares at a deemed price of $0.05 per Brionor Share and assume approximately $450,000 in loans made by Brionor to Atala since February 2013. Under the Agreement, the Atala Shareholders received a total of 6,000,000 Brionor Shares.