Stonegate Agricom Files NI 43-101 Technical Report on Paris Hills Phosphate Project

TSX: ST and ST.WT

TORONTO, Nov. 18, 2011 /CNW/ - Stonegate Agricom Ltd. ("Stonegate" or the "Company") (TSX: ST) is pleased to announce that the technical report on the updated mineral resource estimates on the Paris Hills Phosphate Project titled "NI 43-101 Technical Report, Paris Hills Phosphate Project, Bloomington, Idaho USA" and effectively dated November 17, 2011 (the "2011 Technical Report") has been filed on SEDAR in compliance with National Instrument 43-101 ("NI 43-101") requirements.

The 2011 Technical Report was prepared for the Company by Leo J. Gilbride, P.E., and Vanessa Santos, P.G., of Agapito Associates, Inc. As previously announced by the Company in a news release on October 3, 2011, the 2011 Technical Report identifies a measured mineral resource of 9.2 million tonnes with an average grade of 30.8% P2O5 and an indicated mineral resource of 9.9 million tonnes with an average grade of 30.4% P2O5 in the lower zone, for a total measured and indicated mineral resource of 19.0 million tonnes with an average grade of 30.6% P2O5.  The 2011 Technical Report also identifies an additional inferred mineral resource of 12.0 million tonnes with an average grade of 30.1% P2O5 in the same zone.

The 2011 Technical Report has been filed under the Company's profile on SEDAR (www.sedar.com) and can also be viewed on the Company's website at www.stonegateagricom.com.

Daniel Thompson, P.E., Manager, Technical Services of the Company, who is a qualified person as defined under NI 43-101, supervised the exploration program on which the 2011 Technical Report was based and has reviewed and approved the contents of this news release.

About Stonegate

Stonegate Agricom, which is actively engaged in acquiring and developing agricultural nutrient projects, is currently focused on the development of two potentially world-class, long-life phosphate deposits, the Paris Hills Phosphate Project located in Idaho and the Mantaro Phosphate Project located in Peru. Stonegate is confident that the two deposits have sufficient size and grade to become strategic, cost-effective sources of phosphate supply for major fertilizer producers. The Company intends to continue definition and exploration drilling to confirm and expand estimates of NI 43-101 compliant Mineral Resources in the deposits and then complete feasibility studies leading to a decision to proceed with extracting and processing the phosphate. More information is available at www.stonegateagricom.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable law. Generally, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company as at the date of such information. Forward-looking statements and forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements and forward-looking information, including but not limited to: the general risks associated with the speculative nature of the Company's business, commodity prices, current global financial conditions, uncertainty of additional capital, price volatility, the Mantaro and Paris Hills projects are advanced exploration stage projects, limited operating history, no history of earnings, government regulation in the mining industry, environmental risks and hazards, impending climate change legislation, required approvals and permits, foreign subsidiaries, political and economic risk in Peru, risks relating to the retention of the Mantaro project, risks relating to the retention of the Paris Hills project, expiration of leases and permits for the Paris Hills Project, title to mineral properties, obtaining and converting mineral concessions and surface rights, community relations and project support, water rights, exploration, development and operating risks, uncertainty in the estimation of mineral resources, uncertainty of inferred mineral resources and mineralization, mineral exploration, reliability of historical exploration work, risks associated with having a controlling shareholder,  dilution to the common shares, dependence on key personnel, currency fluctuations, insurance and uninsured risks, competition, legal proceedings, conflicts of interest and lack of dividends as well as those factors discussed in the section entitled "Risk Factors" in the Company's most recently filed annual information form available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or forward-looking information. The forward-looking statements and forward-looking information contained in this press release are included for the purpose of providing investors with information to assist them in understanding the offering as well as the Company's expected financial and operational performance and may not be appropriate for other purposes. Stonegate does not undertake to update any forward-looking statement or forward-looking information that is included herein, except in accordance with applicable securities laws.

SOURCE Stonegate Agricom Ltd

For further information:

Wayne Cheveldayoff
Vice President, Investor Relations
Stonegate Agricom Ltd.
Tel: (416) 864-0303
wcheveldayoff@stonegateagricom.com
Christine Stewart
Renmark Financial Communications Inc.
Tel: (416) 644-2020
cstewart@renmarkfinancial.com

         

 


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