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<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>As filed with the Securities and Exchange Commission on December 12, 2006</B> </FONT></TD>
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<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Registration No. 333-__________</B> </FONT> </TD>
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<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><B><font SIZE=2>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Washington, D.C. 20549</font></b></p>

<p style=' margin-bottom:6pt; margin-top:0pt;text-align:center;'><b><font size=2>____________________</font></b></p>

<p style=' margin-bottom:6pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FORM</font></B><font size=2>&nbsp;</font><B><font SIZE=2>S-8</font></B></p>

<p style=' margin-bottom:6pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</font></B></p>

<p style=' margin-bottom:6pt; margin-top:0pt;text-align:center;'><font size=2>____________________</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=3>BRAZAURO RESOURCES CORPORATION </font></B><BR>
<font size=2>(Exact name of registrant as specified in its charter)</font></p>


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            <p><b><font size=2>British Columbia </font></b><br> <font size=2>(State or other jurisdiction</font><br> <font size=2>of incorporation or organization)</font></p> </td>
        <td  align=center width=50%>
            <p><b><font size=2>76-0195574</font></b><br> <font size=2>(I.R.S. Employer</font><br> <font size=2>Identification No.)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><b><font size=2>800 Bering , Suite 208</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Houston, TX 77057</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Address, including zip code,</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>of registrant&#146;s principal executive offices)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>____________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Brazauro Resources Corporation 2003 Stock Option Plan</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Amended as at July 31, 2006</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Full title of the plan)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<FONT SIZE="2"><B>Mark E. Jones, III<BR>
Brazauro Resources Corporation <BR>
800 Bering, Suite 208<BR>
Houston, TX 77057</B><BR>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Name, address and telephone number,</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2> including area code, of agent for service of process)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:4pt; margin-top:0pt;text-align:center;'><font size=2>____________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><i><font size=2>Copies to:</font></i></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Kimberley Anderson</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Dorsey &amp; Whitney LLP</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>U.S. Bank Center</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>1420 5<sup>th</sup> Ave, Suite 3400</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Seattle WA 98101-4010</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(206) 903-8800</font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><font size=2>____________________</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CALCULATION OF REGISTRATION FEE</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Title of securities to be registered</font></b></p> </td>
        <td width="10" valign=bottom style='border-top:double black 2.25pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="104" valign=bottom style='border-top:double black 2.25pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><FONT SIZE="2"><B>Amount to</B> </FONT><br> <FONT SIZE="2"><B>be registered <SUP>(1)</SUP></B> </FONT></p> </td>
        <td width="10" valign=bottom style='border-top:double black 2.25pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="129" valign=bottom style='border-top:double black 2.25pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Proposed maximum</font></b><br> <b><font size=2>offering price per share</font></b></p> </td>
        <td width="10" valign=bottom style='border-top:double black 2.25pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="129" valign=bottom style='border-top:double black 2.25pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Proposed maximum</font></b><br> <b><font size=2>aggregate offering price</font></b></p> </td>
        <td width="10" valign=bottom style='border-top:double black 2.25pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="129" valign=bottom style='border-top:double black 2.25pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Amount of </font></b><br> <b><font size=2>registration fee</font></b></p> </td> </tr>
    <tr style='height:26.05pt'>
        <td width="158" valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Common Stock, no par value </font><b><font size=2> </font></b><font size=2>per share</font></p> </td>
        <td width="16" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="104" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>8,124,143 shares issuable pursuant to options outstanding under the Plan </font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><FONT SIZE="2">$1.74 <SUP>(3)(4)</SUP> </FONT></p> </td>
        <td width="16" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$9,442,415</font></p> </td>
        <td width="16" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="133" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$1,011</font></p> </td> </tr>
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        <td width="158" valign=top style='border-bottom: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Common Stock, no par value </font><b><font size=2> </font></b><font size=2>per share</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="104" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>1,800,857 shares issuable pursuant to options that may be granted under the Plan </font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><FONT SIZE="2">$0.90<SUP>(2)(4)</SUP> </FONT></p> </td>
        <td width="16" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$1,620,772</font></p> </td>
        <td width="16" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="133" valign=top style='border-bottom:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$174</font></p> </td> </tr>
    <tr style='height:26.05pt'>
        <td width="158" valign=top style='border-bottom: double black 2.25pt;padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>Total </font></p> </td>
        <td width="16" valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="104" valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6.0pt;margin-bottom:0pt'><font size=2>9,925,000</font></p> </td>
        <td width="16" valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="16" valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="131" valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$11,063,187</font></p> </td>
        <td width="16" valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="133" valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt; height:26.05pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:6.0pt;margin-bottom:0pt'><font size=2>$1,185</font></p> </td> </tr></table>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(1)</font></p> </td>
        <td  valign=top style='padding:3.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Pursuant to Rule 416(a) under the Securities Act of 1933, this registration statement also covers such additional number of shares available for issuance under the plan as may be required pursuant to the plan in the event of a stock dividend, stock split, recapitalization or other similar event, or as otherwise provided for in the plan.</font></p> </td> </tr></table>



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        <td width="24" valign=top style='padding:3.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(2)</font></p> </td>
        <td  valign=top style='padding:3.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Estimated solely for the purpose of calculating the registration fee in accordance with Rule&nbsp;457(c) and (h) under the Securities Act of 1933, as amended. The proposed maximum aggregate offering price is based upon the average of the high and low prices of the Registrant&#146;s Common Stock as quoted on the TSX Venture Stock Exchange on December 8, 2006. </font></p> </td> </tr></table>



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        <td width="24" valign=top style='padding:3.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(3)</font></p> </td>
        <td  valign=top style='padding:3.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Estimated solely for the purpose of calculating the registration fee in accordance with Rule&nbsp;457(c) and (h) under the Securities Act of 1933, as amended. The maximum aggregate offering price is based upon the aggregate exercise price of outstanding options</font></p> </td> </tr></table>


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        <td width="24" valign=top style='padding:3.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(4)</font></p> </td>
        <td  valign=top style='padding:3.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>
U.S.  dollar  amounts are  calculated  based on the noon buying rate in New York
City for cable  transfers  payable in Canadian  dollars as certified for customs
purposes by the Federal  Reserve  Bank of New York on December 8, 2006.  On such
date, the noon buying rate was USD$1.00 = CDN$0.8696.</font></p> </td> </tr></table>


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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>INTRODUCTORY STATEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.56in;text-align:left;'><font size=2>This Registration Statement on Form S-8 (this &#147;</font><u><font size=2>Registration Statement</font></u><font size=2>&#148;) relates to common shares (the &#147;</font><u><font size=2>Common Shares</font></u><font size=2>&#148;) of Brazauro Resources Corporation (the &#147;</font><u><font size=2>Company</font></u><font size=2>&#148;) issuable pursuant to the Company&#146;s 2003 Stock Option Plan, as amended (the &#147;</font><u><font size=2>Plan</font></u><font size=2>&#148;). The Common Shares issuable pursuant to the Plan have not been previously registered. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>PART II</font></B></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

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        <td width="96" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 3.</font></b></p> </td>
        <td width="288" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Incorporation of Documents by Reference.</font></b></p> </td> </tr></table>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The following documents, which have been filed with the Securities and Exchange Commission (the &#147;</font><u><font size=2>Commission</font></u><font size=2>&#148;) by the Company, are incorporated by reference in this Registration Statement, as of their respective dates:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>
the Company&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended January 31, 2006 filed on May 16, 2006, as amended on May 31, 2006; </font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>the Company&#146;s Quarterly Report on Form&nbsp;10-Q for the quarter ended April 30, 2006 filed on June 14, 2006; </font></p> </td> </tr></table>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td  valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>
the Company&#146;s Quarterly Report on Form 10-Q for the quarter ended July 31, filed on September 19, 2006;</font></p> </td> </tr> </table>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td  valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>
the Company&#146;s Current Reports on Form 8-K filed on August 3, 2006, September 14, 2006, and December 8, 2006; and</font></p> </td> </tr> </table>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(e)</font></p> </td>
        <td  valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>
The description of the Company&#146;s securities contained in the Company&#146;s
registration statement on Form 10 filed with the Securities
and Exchange  Commission  on June 23,  1993,  including any
amendment  or  report  filed  for the  purpose  of  updating  such
description.</font></p> </td> </tr> </table>



<p style=' margin-bottom:12pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>All documents filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended, subsequent to the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold shall be deemed to be incorporated by reference herein and to be a part hereof from the respective dates of filing of such documents.</font></p>



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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 4.</font></b></p> </td>
        <td width="179" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Description of Securities.</font></b></p> </td> </tr></table>


<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Not applicable.</font></p>


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        <td width="96" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 5.</font></b></p> </td>
        <td width="277" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Interests of Named Experts and Counsel.</font></b></p> </td> </tr></table>


<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Not applicable.</font></p>


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        <td width="96" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 6.</font></b></p> </td>
        <td width="284" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Indemnification of Directors and Officers.</font></b></p> </td> </tr></table>


<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The laws of British Columbia and Brazauro&#146;s articles permit indemnification of its directors and officers against certain liabilities, which would include liabilities arising under the Securities Act of 1933. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-1</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>
<pAGE>




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<BR><BR>




<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><FONT SIZE="2"><B><I>Business Corporations Act</I></B> </FONT> </p>



<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The </font><i><font size=2>Business Corporations Act </font></i><font size=2>(British Columbia) (</font><i><font size=2>&#147;BCBCA&#148;</font></i><font size=2>) provides that a company may: </font></p>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
indemnify  an eligible  party  against all  eligible  penalties,  which  include
judgments,  penalties  or fines  awarded  or  imposed  in,  or  amounts  paid in
settlement of, an eligible proceeding,  to which the eligible party is or may be
liable; and/or </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
after the final disposition of an eligible  proceeding,  pay the expenses (which
includes  costs,  charges  and  expenses  (including  legal  fees) but  excludes
judgments,  penalties,  fines or amounts  paid in  settlement  of a  proceeding)
actually  and  reasonably  incurred  by an  eligible  party in  respect  of that
proceeding. </FONT></TD>
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</TABLE>
<BR>

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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>However,  after the
final  disposition of an eligible  proceeding,  a company is required to pay expenses
 actually and reasonably  incurred by an eligible party in respect of that  proceeding if
the eligible party has not been reimbursed for those  expenses,  and is wholly
 successful,  on the merits or otherwise,  or is substantially  successful on the merits,
 in the outcome of the proceeding.  The BCBCA also  provides that a company may pay the
expenses as they are incurred in advance of the final disposition of an eligible
 proceeding if the company first receives from the eligible party a written undertaking
that, if it is ultimately determined that the payment of expenses is prohibited under the
<I>BCBCA, </I>the eligible party will repay the amounts advanced.  </FONT></P>




<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>For the purpose of the BCBCA, an &#147;eligible party&#148;, in relation to a company, means an individual who: </font></p>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
is or was a director or officer of the company; </FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
is or was a director of another  corporation at the time when the corporation is
or  was an  affiliate  of  the  company,  or at  the  request  of  the  company;
or </FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
at the request of the company, is or was, or holds or held a position equivalent
to that of, a director  or officer of a  partnership,  trust,  joint  venture or
other unincorporated entity, and includes,  with some exceptions,  the heirs and
personal or other legal representatives of that individual. </FONT></TD>
</TR>
</TABLE>
<BR>


<p style=' margin-bottom:12pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>An &#147;eligible proceeding&#148; under the BCBCA is a proceeding in which an eligible party or any of the heirs and personal or other legal representatives of the eligible party, by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a director or officer of, the company or an associated corporation is or may be joined as a party, or is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding. A &#147;proceeding&#148; includes any legal proceeding or investigative action, whether current, threatened, pending or completed. </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Notwithstanding the foregoing, the BCBCA prohibits indemnifying an eligible party or paying the expenses of an eligible party: </font></p>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
if the  indemnity or payment is made under an earlier  agreement to indemnify or
pay  expenses  and, at the time that such  agreement  was made,  the company was
prohibited from giving the indemnity or paying the expenses by its memorandum or
articles;</FONT></TD>
</TR>
</TABLE>
<BR>


<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-2</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>





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<BR><BR>



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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
if the indemnity or payment is made  otherwise  than under an earlier  agreement
and,  at the  time  that the  indemnity  or  payment  is made,  the  company  is
prohibited from giving the indemnity or paying the expenses by its memorandum or
articles;</FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
if, in relation to the subject matter of the eligible  proceeding,  the eligible
party did not act honestly  and in good faith with a view to the best  interests
of the company or the associated corporation,, or as the case may be;</FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
in the case of an  eligible  proceeding  other than a civil  proceeding,  if the
eligible party did not have  reasonable  grounds for believing that the eligible
party&#146;s  conduct  in  respect  of which  the  proceeding  was  brought  was
lawful.</FONT></TD>
</TR>
</TABLE>
<BR>


<p style=' margin-bottom:12pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>Additionally, if an eligible proceeding is brought against an eligible party by or on behalf of the company or an associated corporation, the company must not indemnify the eligible party or pay or advance the expenses of the eligible party in respect of the proceeding. </font></p>


<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Whether or not payment of expenses or indemnification has been sought, authorized or declined under the BCBCA, on the application of a company or an eligible party, the Supreme Court of British Columbia may do one or more of the following: </font></p>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
order a company to indemnify an eligible party against any liability incurred by the eligible party in respect of an eligible proceeding; </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
order a company to pay some or all of the expenses incurred by an eligible party in respect of an eligible proceeding; </FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
order the enforcement of, or any payment under, an agreement of indemnification entered into by a company; </FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
order a company to pay some or all of the expenses actually and reasonably incurred by any person in obtaining an order under this section; or </FONT></TD>
</TR>
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<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
make any other order the court considers appropriate. </FONT></TD>
</TR>
</TABLE>
<BR>


<p style=' margin-bottom:12pt; margin-top:12pt; text-indent:0.5in;text-align:left;'><font size=2>The BCBCA provides that a company may purchase and maintain insurance for the benefit of an eligible party or the heirs and personal or other legal representatives of the eligible party against any liability that may be incurred by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a director or officer of, the company or an associated corporation. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-3</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'>
<i><b><font size=2>Articles of Brazauro</font></b></i></p>


<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Brazauro&#146;s articles provide that, subject to the BCBCA, Brazauro must indemnify a director, former director or alternate director and his or her heirs and legal personal representatives against all eligible penalties to which such person is or may be liable, and Brazauro must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by such person in respect of that proceeding. Pursuant to Brazauro&#146;s articles, each director and alternate director is deemed to have contracted with Brazauro on the aforementioned terms.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Brazauro&#146;s articles further provide that the Company may indemnify any person, subject to any restrictions in the BCBCA and Brazauro&#146;s articles, and that the failure of a director, alternate director or officer of the Company to comply with the BCBCA or Brazauro&#146;s articles does not invalidate any indemnity to which he or she is entitled under Brazauro&#146;s articles.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Brazauro is authorized by its articles to purchase and maintain insurance for the benefit of any person (or his or her heirs or legal personal representatives) who: (i) is or was a director, alternate director, officer, employee or agent of the Company; (ii) is or was a director, alternate director, officer, employee or agent of a corporation at a time when the corporation is or was an affiliate of the Company; (iii) at the request of the Company, is or was a director, alternate director, officer, employee or agent of a corporation or of a partnership, trust, joint venture or other unincorporated entity; and (iv) at the request of the Company, holds or held a position equivalent to that of a director, alternate director or officer of a partnership, trust, joint venture or other unincorporated entity; against any liability incurred by him or her as such director, alternate director,
officer, employee, or agent or person who holds or held such equivalent position.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Brazauro maintains directors&#146; and officers&#146; liability insurance coverage through a policy covering Brazauro and its subsidiaries, which has an annual aggregate policy limit of US$1,786,000, subject to a corporate deductible of US$89,000 per loss for all claims except securities claims for which the deductible is US$134,000. This insurance provides coverage for indemnity payments made by Brazauro to its directors and officers as required or permitted by law for losses, including legal costs, incurred by officers and directors in their capacity as such. This policy also provides coverage directly to individual directors and officers if they are not indemnified by Brazauro. The insurance coverage for directors and officers has customary exclusions, including libel and slander, and those acts determined to be uninsurable under law, or deliberately fraudulent or dishonest or to have
resulted in personal profit or advantage. </font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 7.</font></b></p> </td>
        <td width="267" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Exemption from Registration Claimed.</font></b></p> </td> </tr></table>


<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Not applicable.</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="173" style='border-collapse:collapse'>
    <tr >
        <td width="96" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 8.</font></b></p> </td>
        <td width="77" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Exhibits.</font></b></p> </td> </tr></table>


<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid;height:.5in'>
        <td width="86" valign=bottom style='border-bottom:  solid black 1.0pt;  height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Exhibit</font></b><br>  <b><font size=2>Number</font></b></p>  </td>
        <td width="19" valign=bottom style='  height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="518" valign=bottom style='border-bottom:  solid black 1.0pt;  height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Description</font></b></p>  </td> </tr>
    <tr style='page-break-inside:avoid;height:.25in'>
        <td width="86" valign=top style='height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>4.1</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style='height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2003 Stock Option Plan, as amended (incorporated by reference to Exhibit 10.30 of the Registrant&#146;s Form 10-Q for the quarter ended July 31, 2006 filed on September 19, 2006).</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.25in'>
        <td width="86" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>5.1</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Opinion of DuMoulin Black LLP</font></p> </td> </tr>
    <tr style='page-break-inside:avoid; height:.25in'>
        <td width="86" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>23.1</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Consent of Morgan &amp; Company, Chartered Accountants</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-4</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>






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    <tr style='page-break-inside:avoid;height:.5in'>
        <td width="86" valign=bottom style='border-bottom:  solid black 1.0pt;  height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Exhibit</font></b><br>  <b><font size=2>Number</font></b></p>  </td>
        <td width="19" valign=bottom style='  height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="518" valign=bottom style='border-bottom:  solid black 1.0pt;  height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Description</font></b></p>  </td> </tr>
    <tr style='page-break-inside:avoid;height:.25in'>
        <td width="86" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>23.2</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Consent of DuMoulin Black LLP (contained in Exhibit&nbsp;5.1 to this Registration Statement).</font></p> </td> </tr>
    <tr style='page-break-inside:avoid; height:.25in'>
        <td width="86" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>24.1</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Power of Attorney (contained on signature page).</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="388" style='border-collapse:collapse'>
    <tr >
        <td  colspan="2" valign=top style='padding:12.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 9.</font></b></p> </td>
        <td width="109" valign=top style='padding:12.0pt 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Undertakings.</font></b></p> </td>
        <td  width="183">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></td> </tr>
    <tr >
        <td width="48" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p  style='text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  colspan="2" valign=top style='padding:0in 0in 12.0pt 0in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The undersigned registrant hereby undertakes:</font></p> </td> </tr>
    <tr>
        <td width="48" ></td>

        <td width="48" ></td>

        <td width="109" ></td>

        <td width="183" ></td> </tr> </table>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.5in; text-indent:0.5in;text-align:left;'><font size=2>(1)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in; text-indent:0.5in;text-align:left;'><font size=2>(i)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933, as amended;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in; text-indent:0.5in;text-align:left;'><font size=2>(ii)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth
in the &#147;Calculation of Registration Fee&#148; table in the effective Registration Statement; and</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in; text-indent:0.5in;text-align:left;'><font size=2>(iii)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><i><font size=2>Provided</font></i><font size=2>,</font><i><font size=2> however</font></i><font size=2>, that paragraphs&nbsp;(a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.5in; text-indent:0.5in;text-align:left;'><font size=2>(2)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:0.5in; text-indent:0.5in;text-align:left;'><font size=2>(3)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>(b)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant&#146;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the Exchange Act that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-5</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>




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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>(c)</font><font size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size=2>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of
its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-6</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style='page-break-before:always'></p>
<pAGE>




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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&nbsp;S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Houston, Texas, on November 9, 2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p  style='text-indent:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="313" nowrap valign=top style='padding:0in 0in 12.0pt 0in; '>
            <p  style='margin-bottom:0in; text-indent:0in'><B><font SIZE=2></font></B></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


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<TD WIDTH=50%>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>BRAZAURO RESOURCES CORPORATION<BR>
</B><BR>

By: &nbsp;&nbsp;&nbsp;/s/ Mark E. Jones, III<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;______________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mark E. Jones, III<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer and Director </FONT>
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<BR>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-7</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>





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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>POWER OF ATTORNEY</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Each person whose signature appears below constitutes and appoints Mark E. Jones, III his attorney-in-fact, with the power of substitution, for them in any and all capacities, to sign any amendments to this registration statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Commission, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may do or cause to be done by virtue hereof.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities and on the date indicated.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:6.0pt;line-height:101.52%'><u><b><font size=2>Signature</font></b></u></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt;line-height:101.52%'><u><b><font size=2>Title</font></b></u><u></u></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:6.0pt;line-height:101.52%'><u><b><font size=2>Date</font></b></u></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:60.75pt'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><u><font size=2><BR>/s/ Mark E. Jones, III</font></u><font size=2>___</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2>Mark E. Jones, III</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>Chief Executive Officer, Director and Chairman (principal executive, financial and accounting officer)</font></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>November 9, 2006</font></p> </td> </tr>

    <tr style='page-break-inside:avoid;height:60.75pt'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p  style='margin-bottom:0in; text-indent:0in'><u><font size=2><BR>/s/ D. Harry W. Dobson</u><BR>
D. Harry W. Dobson</font></p>  </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>Director</font></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>November 9, 2006</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:39.15pt'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p  style='margin-bottom:0in; text-indent:0in'><u><font size=2><BR>/s/ Patrick L. Glazier</font></u><BR>
<font size=2>Patrick L. Glazier</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>
Director</font></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>November 9, 2006</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.55in'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><u><font size=2><BR>/s/ Brian C. Irwin</font></u><BR>
Brian C. Irwin</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>Director</font></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>November 9, 2006</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.55in'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><u><font size=2><BR>/s/ Leendert G. Krol</u><BR>
Leendert G. Krol</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>Director</font></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>November 9, 2006</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.55in'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><u><font size=2><BR>/s/ Daniel B. Leonard</u><BR>
Daniel B. Leonard</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>Director</font></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>November 9, 2006</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.55in'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><u><font size=2><BR>/s/ Dr.&nbsp;Roger Howard Mitchell</u><BR>
Dr.&nbsp;Roger Howard Mitchell</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>Director</font></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>November 9, 2006</font></p> </td> </tr>
    <tr style='page-break-inside:avoid'>
        <td width="235" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><u><font size=2><BR>/s/ Dr.&nbsp;Roger David Morton</u><BR>
Dr.&nbsp;Roger David Morton</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>Director</font></p> </td>
        <td width="125" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:39.15pt'>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:101.52%'><font size=2><BR>November 9, 2006</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-8</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>





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<BR><BR>


<p style=' margin-bottom:24pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>AUTHORIZED REPRESENTATIVE</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:24pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, the undersigned has signed this Registration Statement, in the capacity of the duly authorized representative of Brazauro Resources Corporation in the United States, in Houston, Texas on this 8th</font><b><font size=2> </font></b><font size=2>day of December, 2006.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:3.5in;text-align:justify;'><font size=2>&nbsp;</font></p>


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<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
By:&nbsp;&nbsp;/s/ Mark E. Jones, III<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;__________________________________<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mark E. Jones, III<BR>
 </FONT></TD>
</TR>
</TABLE>
<BR>
<BR>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><font SIZE=2>II-9</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>




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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>EXHIBIT INDEX </font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>BRAZAURO RESOURCES CORPORATION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse'>
    <tr style='page-break-inside:avoid;height:.5in'>
        <td width="86" valign=bottom style='border-bottom: solid black 1.0pt; height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Exhibit</font></b><br> <b><font size=2>Number</font></b></p> </td>
        <td width="19" valign=bottom style=' height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style='border-bottom: solid black 1.0pt; height:.5in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Description</font></b></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.25in'>
        <td width="86" valign=top style='height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>4.1</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style='height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2003 Stock Option Plan, as amended (incorporated by reference to Exhibit 10.30 of the Registrant&#146;s Form 10-Q for the quarter ended July 31, 2006 filed on September 19, 2006).</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.25in'>
        <td width="86" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>5.1</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Opinion of DuMoulin Black LLP</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.25in'>
        <td width="86" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>23.1</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Consent of Morgan &amp; Company, Chartered Accountants</font></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:.25in'>
        <td width="86" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>23.2</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Consent of DuMoulin Black LLP (contained in Exhibit&nbsp;5.1 to this Registration Statement).</font></p> </td> </tr>
    <tr style='page-break-inside:avoid; height:.25in'>
        <td width="86" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>24.1</font></p> </td>
        <td width="19" valign=top style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="518" valign=bottom style=' height:.25in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Power of Attorney (contained on signature page).</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:5pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>





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[{"type": "S-8", "sequence": "1", "filename": "brazauro_s8-dec2006.htm", "secsgml_size_bytes": 84011}]
{"company-data": {"conformed-name": "BRAZAURO RESOURCES CORP", "cik": "0000908177", "assigned-sic": "1400", "irs-number": "760195574", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-139278", "film-number": "061272024"}, "business-address": {"street1": "800 BERING", "street2": "STE 208", "city": "HOUSTON", "state": "TX", "zip": "77057", "phone": "7137851278"}, "mail-address": {"street1": "800 BERING", "street2": "STE 208", "city": "HOUSTON", "state": "TX", "zip": "77057"}, "former-company": [{"former-conformed-name": "STAR RESOURCES CORP", "date-changed": "19970529"}, {"former-conformed-name": "TEXAS STAR RESOURCES CORP", "date-changed": "19930624"}]}
As filed with the Securities and Exchange Commission on December 12, 2006
Registration No. 333-__________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM
S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
____________________
BRAZAURO RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
British Columbia
(State or other jurisdiction
of incorporation or organization)
76-0195574
(I.R.S. Employer
Identification No.)
800 Bering , Suite 208
Houston, TX 77057
(Address, including zip code,
of registrant's principal executive offices)
____________________
Brazauro Resources Corporation 2003 Stock Option Plan
Amended as at July 31, 2006
(Full title of the plan)
Mark E. Jones, III
Brazauro Resources Corporation
800 Bering, Suite 208
Houston, TX 77057
(Name, address and telephone number,
including area code, of agent for service of process)
____________________
Copies to:
Kimberley Anderson
Dorsey & Whitney LLP
U.S. Bank Center
1420 5
th
Ave, Suite 3400
Seattle WA 98101-4010
(206) 903-8800
____________________
CALCULATION OF REGISTRATION FEE
Title of securities to be registered
Amount to
be registered
(1)
Proposed maximum
offering price per share
Proposed maximum
aggregate offering price
Amount of
registration fee
Common Stock, no par value
per share
8,124,143 shares issuable pursuant to options outstanding under the Plan
$1.74
(3)(4)
$9,442,415
$1,011
Common Stock, no par value
per share
1,800,857 shares issuable pursuant to options that may be granted under the Plan
$0.90
(2)(4)
$1,620,772
$174
Total
9,925,000
$11,063,187
$1,185
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, this registration statement also covers such additional number of shares available for issuance under the plan as may be required pursuant to the plan in the event of a stock dividend, stock split, recapitalization or other similar event, or as otherwise provided for in the plan.
(2)
Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(c) and (h) under the Securities Act of 1933, as amended. The proposed maximum aggregate offering price is based upon the average of the high and low prices of the Registrant's Common Stock as quoted on the TSX Venture Stock Exchange on December 8, 2006.
(3)
Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(c) and (h) under the Securities Act of 1933, as amended. The maximum aggregate offering price is based upon the aggregate exercise price of outstanding options
(4)
U.S.  dollar  amounts are  calculated  based on the noon buying rate in New York
City for cable  transfers  payable in Canadian  dollars as certified for customs
purposes by the Federal  Reserve  Bank of New York on December 8, 2006.  On such
date, the noon buying rate was USD$1.00 = CDN$0.8696.
INTRODUCTORY STATEMENT
This Registration Statement on Form S-8 (this "
Registration Statement
") relates to common shares (the "
Common Shares
") of Brazauro Resources Corporation (the "
Company
") issuable pursuant to the Company's 2003 Stock Option Plan, as amended (the "
Plan
"). The Common Shares issuable pursuant to the Plan have not been previously registered.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents, which have been filed with the Securities and Exchange Commission (the "
Commission
") by the Company, are incorporated by reference in this Registration Statement, as of their respective dates:
(a)
the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2006 filed on May 16, 2006, as amended on May 31, 2006;
(b)
the Company's Quarterly Report on Form 10-Q for the quarter ended April 30, 2006 filed on June 14, 2006;
(c)
the Company's Quarterly Report on Form 10-Q for the quarter ended July 31, filed on September 19, 2006;
(d)
the Company's Current Reports on Form 8-K filed on August 3, 2006, September 14, 2006, and December 8, 2006; and
(e)
The description of the Company's securities contained in the Company's
registration statement on Form 10 filed with the Securities
and Exchange  Commission  on June 23,  1993,  including any
amendment  or  report  filed  for the  purpose  of  updating  such
description.
All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended, subsequent to the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold shall be deemed to be incorporated by reference herein and to be a part hereof from the respective dates of filing of such documents.
Item 4.
Description of Securities.
Not applicable.
Item 5.
Interests of Named Experts and Counsel.
Not applicable.
Item 6.
Indemnification of Directors and Officers.
The laws of British Columbia and Brazauro's articles permit indemnification of its directors and officers against certain liabilities, which would include liabilities arising under the Securities Act of 1933.
II-1
Business Corporations Act
The
Business Corporations Act
(British Columbia) (
"BCBCA"
) provides that a company may:
•
indemnify  an eligible  party  against all  eligible  penalties,  which  include
judgments,  penalties  or fines  awarded  or  imposed  in,  or  amounts  paid in
settlement of, an eligible proceeding,  to which the eligible party is or may be
liable; and/or
•
after the final disposition of an eligible  proceeding,  pay the expenses (which
includes  costs,  charges  and  expenses  (including  legal  fees) but  excludes
judgments,  penalties,  fines or amounts  paid in  settlement  of a  proceeding)
actually  and  reasonably  incurred  by an  eligible  party in  respect  of that
proceeding.
However,  after the
final  disposition of an eligible  proceeding,  a company is required to pay expenses
 actually and reasonably  incurred by an eligible party in respect of that  proceeding if
the eligible party has not been reimbursed for those  expenses,  and is wholly
 successful,  on the merits or otherwise,  or is substantially  successful on the merits,
 in the outcome of the proceeding.  The BCBCA also  provides that a company may pay the
expenses as they are incurred in advance of the final disposition of an eligible
 proceeding if the company first receives from the eligible party a written undertaking
that, if it is ultimately determined that the payment of expenses is prohibited under the
BCBCA,
the eligible party will repay the amounts advanced.
For the purpose of the BCBCA, an "eligible party", in relation to a company, means an individual who:
•
is or was a director or officer of the company;
•
is or was a director of another  corporation at the time when the corporation is
or  was an  affiliate  of  the  company,  or at  the  request  of  the  company;
or
•
at the request of the company, is or was, or holds or held a position equivalent
to that of, a director  or officer of a  partnership,  trust,  joint  venture or
other unincorporated entity, and includes,  with some exceptions,  the heirs and
personal or other legal representatives of that individual.
An "eligible proceeding" under the BCBCA is a proceeding in which an eligible party or any of the heirs and personal or other legal representatives of the eligible party, by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a director or officer of, the company or an associated corporation is or may be joined as a party, or is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding. A "proceeding" includes any legal proceeding or investigative action, whether current, threatened, pending or completed.
Notwithstanding the foregoing, the BCBCA prohibits indemnifying an eligible party or paying the expenses of an eligible party:
•
if the  indemnity or payment is made under an earlier  agreement to indemnify or
pay  expenses  and, at the time that such  agreement  was made,  the company was
prohibited from giving the indemnity or paying the expenses by its memorandum or
articles;
II-2
•
if the indemnity or payment is made  otherwise  than under an earlier  agreement
and,  at the  time  that the  indemnity  or  payment  is made,  the  company  is
prohibited from giving the indemnity or paying the expenses by its memorandum or
articles;
•
if, in relation to the subject matter of the eligible  proceeding,  the eligible
party did not act honestly  and in good faith with a view to the best  interests
of the company or the associated corporation,, or as the case may be;
•
in the case of an  eligible  proceeding  other than a civil  proceeding,  if the
eligible party did not have  reasonable  grounds for believing that the eligible
party's  conduct  in  respect  of which  the  proceeding  was  brought  was
lawful.
Additionally, if an eligible proceeding is brought against an eligible party by or on behalf of the company or an associated corporation, the company must not indemnify the eligible party or pay or advance the expenses of the eligible party in respect of the proceeding.
Whether or not payment of expenses or indemnification has been sought, authorized or declined under the BCBCA, on the application of a company or an eligible party, the Supreme Court of British Columbia may do one or more of the following:
•
order a company to indemnify an eligible party against any liability incurred by the eligible party in respect of an eligible proceeding;
•
order a company to pay some or all of the expenses incurred by an eligible party in respect of an eligible proceeding;
•
order the enforcement of, or any payment under, an agreement of indemnification entered into by a company;
•
order a company to pay some or all of the expenses actually and reasonably incurred by any person in obtaining an order under this section; or
•
make any other order the court considers appropriate.
The BCBCA provides that a company may purchase and maintain insurance for the benefit of an eligible party or the heirs and personal or other legal representatives of the eligible party against any liability that may be incurred by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a director or officer of, the company or an associated corporation.
II-3
Articles of Brazauro
Brazauro's articles provide that, subject to the BCBCA, Brazauro must indemnify a director, former director or alternate director and his or her heirs and legal personal representatives against all eligible penalties to which such person is or may be liable, and Brazauro must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by such person in respect of that proceeding. Pursuant to Brazauro's articles, each director and alternate director is deemed to have contracted with Brazauro on the aforementioned terms.
Brazauro's articles further provide that the Company may indemnify any person, subject to any restrictions in the BCBCA and Brazauro's articles, and that the failure of a director, alternate director or officer of the Company to comply with the BCBCA or Brazauro's articles does not invalidate any indemnity to which he or she is entitled under Brazauro's articles.
Brazauro is authorized by its articles to purchase and maintain insurance for the benefit of any person (or his or her heirs or legal personal representatives) who: (i) is or was a director, alternate director, officer, employee or agent of the Company; (ii) is or was a director, alternate director, officer, employee or agent of a corporation at a time when the corporation is or was an affiliate of the Company; (iii) at the request of the Company, is or was a director, alternate director, officer, employee or agent of a corporation or of a partnership, trust, joint venture or other unincorporated entity; and (iv) at the request of the Company, holds or held a position equivalent to that of a director, alternate director or officer of a partnership, trust, joint venture or other unincorporated entity; against any liability incurred by him or her as such director, alternate director,
officer, employee, or agent or person who holds or held such equivalent position.
Brazauro maintains directors' and officers' liability insurance coverage through a policy covering Brazauro and its subsidiaries, which has an annual aggregate policy limit of US$1,786,000, subject to a corporate deductible of US$89,000 per loss for all claims except securities claims for which the deductible is US$134,000. This insurance provides coverage for indemnity payments made by Brazauro to its directors and officers as required or permitted by law for losses, including legal costs, incurred by officers and directors in their capacity as such. This policy also provides coverage directly to individual directors and officers if they are not indemnified by Brazauro. The insurance coverage for directors and officers has customary exclusions, including libel and slander, and those acts determined to be uninsurable under law, or deliberately fraudulent or dishonest or to have
resulted in personal profit or advantage.
Item 7.
Exemption from Registration Claimed.
Not applicable.
Item 8.
Exhibits.
Exhibit
Number
Description
4.1
2003 Stock Option Plan, as amended (incorporated by reference to Exhibit 10.30 of the Registrant's Form 10-Q for the quarter ended July 31, 2006 filed on September 19, 2006).
5.1
Opinion of DuMoulin Black LLP
23.1
Consent of Morgan & Company, Chartered Accountants
II-4
Exhibit
Number
Description
23.2
Consent of DuMoulin Black LLP (contained in Exhibit 5.1 to this Registration Statement).
24.1
Power of Attorney (contained on signature page).
Item 9.
Undertakings.
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933, as amended;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth
in the "Calculation of Registration Fee" table in the effective Registration Statement; and
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;
Provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
(2)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
II-5
(c)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of
its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
II-6
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Houston, Texas, on November 9, 2006.
BRAZAURO RESOURCES CORPORATION
By:    /s/ Mark E. Jones, III
______________________________________
Mark E. Jones, III
Chief Executive Officer and Director
II-7
POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints Mark E. Jones, III his attorney-in-fact, with the power of substitution, for them in any and all capacities, to sign any amendments to this registration statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Commission, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/ Mark E. Jones, III
___
Mark E. Jones, III
Chief Executive Officer, Director and Chairman (principal executive, financial and accounting officer)
November 9, 2006
/s/ D. Harry W. Dobson
D. Harry W. Dobson
Director
November 9, 2006
/s/ Patrick L. Glazier
Patrick L. Glazier
Director
November 9, 2006
/s/ Brian C. Irwin
Brian C. Irwin
Director
November 9, 2006
/s/ Leendert G. Krol
Leendert G. Krol
Director
November 9, 2006
/s/ Daniel B. Leonard
Daniel B. Leonard
Director
November 9, 2006
/s/ Dr. Roger Howard Mitchell
Dr. Roger Howard Mitchell
Director
November 9, 2006
/s/ Dr. Roger David Morton
Dr. Roger David Morton
Director
November 9, 2006
II-8
AUTHORIZED REPRESENTATIVE
Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, the undersigned has signed this Registration Statement, in the capacity of the duly authorized representative of Brazauro Resources Corporation in the United States, in Houston, Texas on this 8th
day of December, 2006.
By:  /s/ Mark E. Jones, III
__________________________________
Mark E. Jones, III
II-9
EXHIBIT INDEX
BRAZAURO RESOURCES CORPORATION
Exhibit
Number
Description
4.1
2003 Stock Option Plan, as amended (incorporated by reference to Exhibit 10.30 of the Registrant's Form 10-Q for the quarter ended July 31, 2006 filed on September 19, 2006).
5.1
Opinion of DuMoulin Black LLP
23.1
Consent of Morgan & Company, Chartered Accountants
23.2
Consent of DuMoulin Black LLP (contained in Exhibit 5.1 to this Registration Statement).
24.1
Power of Attorney (contained on signature page).