Orbite files an amended 43-101 compliant report and Annual Information Form

EXPLORATION ORBITE V.S.P.A. INC.
TSX VENTURE EXCHANGE: ORT.A

MONTREAL, Sept. 8, 2011 /CNW Telbec/ - Exploration Orbite VSPA Inc. (ORT.A) ("Orbite" or the "Company") has announced today that it has filed on SEDAR (www.sedar.com) an amended and restated 43-101 compliant technical report relating to its Grande-Vallée property, prepared collectively by Jean-Guy Levaque ing. and Raymond Simoneau ing. MBA, in addition to an amended and restated Annual Information Form for the financial year ended December 31, 2010. The amended technical report replaces the one prepared in March of 2011 and filed on SEDAR on March 16, 2011, and the revised Annual Information Form replaces the one dated May 10, 2011 and filed on SEDAR on June 3, 2011. The technical report and Annual Information Form have been modified as at August 21, 2011 and August 25, 2011, respectively, at the request of the Autorité des marchés financiers, in order to each include a new section dealing with metallurgical trials and clarify disclosure relating to mineral reserves.

The resulting technical report in no way alters technical and mineral disclosure or conclusions provided in the initial report.

Orbite also announces that as a result of a review by the Autorité des marchés financiers and the Ontario Securities Commission (collectively the "Regulatory Authorities"), Orbite is clarifying and updating certain disclosures provided in previous third party media articles and postings previously available on the Company's website www.explorationorbite.com.  These clarifications do not pertain to any press release prepared and issued by Orbite.

The content of certain analyst report, third party statements and media articles regarding the Company was deemed by Regulatory Authorities as disclosure that the Company had adopted as its own by virtue of Orbite making same available by reference on its website, triggering the application of securities rules and policies, including requirements of Regulation 43-101 respecting standards of disclosure for mineral projects. The Company has since removed all such references and disclosure from its website.

Documents and articles removed from the Company's website at the request of the Regulatory Authorities include:

- a link to an article published by the Montreal Gazette on June 21, 2011, the author of which stated: "The whole project has a capital cost of more than $400 million and it would displace heavy imports of alumina from the Caribbean, Africa and Australia to feed Quebec's aluminum smelters." Reference to capital cost of more than $400 million is unsupported by a compliant 43-101 technical report.

- a link to an article published by Northern Miner dated June 20-26, 2011 which stated: "Our high-purity alumina valuation is based on producing 350 tonnes per year in 2012 and increasing to 1,750 tonnes by 2014", "We're going to multiply the lines we have to a 750-tonne-per-day smelter grade alumina production facility by mid-2013", "also recovering valuable by-products such as scandium and gallium." References to (i) a 350 tonnes per year production in 2012 increasing to 1,750 tonnes by 2014, (ii) increase of the existing lines to a 750 tonnes per day smelter grade alumina production facility by mid-2013, and (iii) recovering valuable by-products such as scandium and gallium, are unsupported by a compliant 43-101 technical report.

- a link to an article published by American Metal Market on May 25, 2011, the author of  which stated: "The plant is expected to produce 1,750 tonnes of alumina a day, as well as smaller quantities of rare earth oxides, from aluminous clay rather than traditional bauxite."  These references are unsupported by a compliant 43-101 technical report.

- a link to an article published by American Metal Market on April 15, 2011, the author of which stated: "The company (…) said it also will make gallium, scandium and other rare earth oxides at its Quebec facility", "Orbite's planned alumina plant, which will eventually process 7,000 tonnes of aluminous clay per day, also will produce "tens and hundreds of kilograms" of rare earth oxides daily for sale to third party consumers", and "The plant's 1,750 tonne per day alumina output is up from previous estimates of about 750 tonnes per day." These references, including the Company's representation that it will produce hundreds of kilograms of rare earth oxides daily, are unsupported by a compliant 43-101 technical report.

- an analyst report by Mackie Research Capital Corporation dated March 22, 2011, which was posted on the Company's website and contained amongst other information details of planned production rates, projected capital and operating costs and detailed discounted cash flow information which are based on estimates by Mackie Research Capital Corporation and not supported by a compliant 43-101 technical report demonstrating mineral reserves or potential economic viability.

In those instances where the Company has revised, clarified or updated previous disclosure, the Company advises readers not to rely on such statements as they may continue to be found in the public domain, and invites readers to consult its amended and restated 43-101 technical report modified as at August 21, 2011 on www.sedar.com.

The Company expects to mandate, during the fall, one or more engineering firms to conduct a feasibility study in connection with its process and the deposit, which shall comply with the prescriptions of National Instrument  43-101.

About Orbite

Orbite owns 100% of the mining rights on its 64 km2 Grande-Vallée property, the site of an aluminous clay deposit located 32 km northeast of Murdochville, and a 28,000 sq. ft. facility in Cap-Chat, both are located in the Gaspé region. The Company also owns the intellectual rights to a unique Canada and U.S.-patented process for extracting alumina from aluminous clays for which other international patents are also pending. The Company has cash assets of more than $14 million. www.explorationorbite.com

This press release has been reviewed and authorized by Mr. Jean-Guy Levaque, qualified independent geologist and qualified person according to NI 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The geologist's report can be found on www.orbitealuminae.com 

SOURCE EXPLORATION ORBITE V.S.P.A. INC.

For further information:

MEDIA 
Frédéric Bérard
HKDP Communications and Public Affairs
Tel.: 514-395-0375, ext. 259
INVESTORS 
Louis Morin
Investor Relations
Tel.: 514-591-3988
   
  Jason Monaco
Managing Partner
First Canadian Capital Corp.
Tel.: 416-742-5600

 

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EXPLORATION ORBITE V.S.P.A. INC.

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