OTTAWA, ONTARIO--(Marketwired - Apr 25, 2013) - Focus Graphite Inc. ("Focus" or the "Company") (TSX VENTURE:FMS)(FCSMF)(FKC.F) announces it has settled its legal recourse against Everton Resources Inc. and certain other parties. The proceedings arose from a transaction by the Company related to the Labrador Trough group of properties.
Focus's rights and assets are unaffected by the proceedings and their settlement.
Focus is pleased to have resolved the matter amicably.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% crystalline graphite. Focus' goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Analysis ("PEA") of the Lac Knife project which demonstrates the project has excellent potential to become a producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus invests in the development of graphene applications and patents through Grafoid Inc.
Forward Looking Statements - Disclaimer
This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com Focus Graphite disclaims any intention or obligation to revise or update such statements.