Red exclamtion mark in a circle? ’94 Lancer

I have a 1994 Mitsubishi Lancer that has had a red exclamtion mark in a circle, warning light come on. My brother thinks that maybe it is low on break fluid or the break pads are wearing out. Does anyone know? I bought the car without a manual and can?t find much info on-line anywhere.

Can anyone help?

Cheers, helpful people!

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Flea
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