DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, Nov. 1, 2016 /CNW Telbec/ - Arianne Phosphate (the "Company" or "Arianne") (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, has exercised options held on land at Sainte-Rose-du-Nord. The land is projected to be the future site of the port and is required for the development of the maritime terminal as well as the access roads and supporting infrastructure. It is from this site that Arianne will be shipping its high purity phosphate concentrate to customers around the world.
"This is an important step forward for the Company and its development," said Brian Ostroff, CEO of Arianne. "As with all large scale projects, transportation logistics are a vital contributor to overall success. The Arianne team in Chicoutimi has continued their work with the Port of Saguenay as well as the local communities and stakeholders. The overwhelming support we have received for the project and the necessary timelines have led us to proceed with the exercising of our land options as we move towards the realization of our Lac à Paul project."
The Lac à Paul project is the world's largest greenfield phosphate rock project. During construction, Raymond Chabot Grant Thornton estimated that the project would employ roughly 2,300 people and, according to the Company's 2013 Feasibility Study, once in production, will be capable of producing 3 million tons a year of high purity concentrate necessary for the production of fertilizer as well as many other applications that touch our daily lives. Recent global events have highlighted the importance of phosphate rock quality and, at 39% with very low contaminant levels, Arianne's high purity phosphate should continue to receive increased interest as the Company continues its discussions with potential corporate and financial partners.
Jean-Sébastien David, P.Geo., Qualified Person by NI 43-101, has approved this release. Mr. David is also the Company's Chief Operating Officer.
About Arianne Phosphate
Arianne Phosphate ("Arianne Phosphate Inc.") (www.arianne-inc.com) is developing the Lac à Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants. The Company has 97,648,080 million shares outstanding.
Neither 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.
Cautionary Statements Regarding Forward Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, anticipated quality and production of the apatite concentrate at the Lac à Paul project. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", forecasts", "intends", "anticipates", or "believes", or the negatives thereof 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. Forward-looking information is 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 information, including but not limited to: volatile stock price; risks related to changes in commodity prices; sources and cost of power facilities; the estimation of initial and sustaining capital requirements; the estimation of labour and operating costs; the general global markets and economic conditions; the risk associated with exploration, development and operations of mineral deposits; the estimation of mineral reserves and resources; the risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support mining, processing, development and exploration activities; the risks associated with changes in the mining regulatory regime governing the Company; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at Lac à Paul project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issue of common shares; the risk of litigation. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in commodity prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the 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 forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
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SOURCE Arianne Phosphate Inc.
Image with caption: "Logo: Arianne Phosphate Inc. (CNW Group/Arianne Phosphate Inc.)". Image available at: http://photos.newswire.ca/images/download/20161101_C1151_PHOTO_EN_808617.jpg
For further information: Source: Jean-Sébastien David, C.O.O. Tel. : 418-549-7316 [email protected]; Info: Brian Ostroff, C.E.O. Tel. : 514-908-4202 [email protected]; Medias: Karyna Tremblay, Community Relations Coordinator Tel. : 418-549-7316 [email protected]