MONTREAL, QUEBEC--(Marketwire -09/06/12)- In an important move toward the development of its Quebec operations, Orbite Aluminae (ORT.TO) (the "Company" or "Orbite") today announced it has received a 20-year renewable mining lease (BM 1013) on its Grande-Vallee property. Granted by the Ministere des Ressources naturelles et de la Faune du Quebec, Quebec's Ministry of Natural Resources and Wildlife, the lease is a significant step in supporting the feasibility study currently underway for Orbite's smelter-grade alumina (SGA) production plant as well as for the high-purity alumina (HPA) operations.
"The mining lease demonstrates that Orbite is meeting key milestones and progressing according to schedule," said Richard Boudreault, President and CEO of Orbite. "We very much appreciate the Ministry's support and look forward to positively contributing to the community, the Province of Quebec, and Canada's global technology leadership within the mining sector."
"We are happy to see a mining project with economic, ecological, and environmentally responsible values developing in the Gaspe region, and we support it," said Chief Claude Janotte of the Gespeg Micmac Nation.
The first 90-acre mining lease permits a renewable 20-year period of mining on approximately 70 million tonnes of aluminous clay, which is in line with Orbite's Revised Preliminary Economic Assessment dated May 30, 2012 (see May 31, 2012 press release http://www.orbitealuminae.com/media/upload/news/PRESSRELEASE_REVISED_PEA-VF.pdf).
Orbite also announces that it is 7 to 10 days ahead of schedule on the construction of it High Purity Alumina (HPA) plant situated in Cap-Chat, expected to start production in Q1 2013.
The technical content of this press release has been reviewed and approved by Marc Filion, a qualified person under the terms of Regulation 43-101 Respecting Standards of Disclosure for Mineral Projects (Quebec). Mr. Filion is a Consultant of Orbite, and as such, is not independent pursuant to NI 43-101.
Orbite Aluminae Inc. is a Canadian cleantech company whose innovative technologies are setting the new standard for alumina production. Orbite technologies enable environmentally-neutral extraction of smelter-grade alumina (SGA), high-purity alumina (HPA) and high-value elements, including rare earths and rare metals, from a variety of sources such as aluminous clay and bauxite, without generating the toxic red mud residue that the traditional Bayer process produces. The Company owns ten different families of intellectual property rights (and patents pending) filed across the world for the extraction of alumina at the highest standards of sustainability. Orbite also owns exclusive mining rights over a total of 60,984 hectares, including the 6,665-hectare Grande-Vallee property, the site of an aluminous clay deposit in Quebec, Canada. An NI 43-101 compliant report identified over 1 billion tonnes of aluminous clay in part of this deposit. Orbite is currently converting its 2,600 m2 pilot plant in Cap-Chat, Quebec, Canada, into a full-scale high-purity alumina production facility, and expects this plant to be fully operational in early 2013. The Company also anticipates the launch of construction of its first SGA plant towards the end of 2013. Orbite plans to offer SGA and HPA products and to license its low processing cost technologies to well-qualified producers who want to reduce their environmental footprint. Orbite has recently entered into partnerships with the world's largest aluminum producer, UC Rusal, and Asia's largest aluminum complex, National Aluminium Company Limited.
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Company or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Company management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on March 22, 2012 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.