01:07:43 EST Tue 25 Feb 2020
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or Name

Arianne Phosphate Inc
Symbol DAN
Shares Issued 105,803,943
Close 2018-10-22 C$ 0.57
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Arianne cheers favourable decision for Saguenay port

2018-10-23 12:03 ET - News Release

Mr. Jean-Sebastien David reports


Arianne Phosphate Inc. has noted that the Port of Saguenay has received a favourable decision with regard to the construction of a maritime terminal facility on the north shore of the Saguenay River. Granted by the Minister for the Environment and Climate Change, Catherine McKenna, this decision now paves the way forward for the construction of a terminal that will allow for the shipping of Arianne's phosphate concentrate to customers around the world.

"We are very pleased by the decision," said Jean-Sebastien David, chief operating officer of Arianne Phosphate. "This result comes after a long period of collaboration with the port and involved many environmental studies, public consultations, and a very thorough and rigorous environmental impact assessment that was conducted by the Canadian Environmental Assessment Agency. With conditions now set and the ongoing responsibilities on the part of the port and its users well defined, this approval will allow Arianne and its stakeholders to receive the economic benefits of the Lac a Paul project while acting in an environmentally responsible and sustainable fashion."

The maritime terminal on the north shore of the Saguenay River is a very significant milestone for the Lac a Paul project. With a port facility in place, it will allow for efficient and cost-effective transportation of Arianne's high-purity, premium-priced phosphate concentrate globally and will open new markets for the company. Based on Arianne's 2013 feasibility study (see press release dated Oct. 24, 2013), the project had a net present value of $1.9-billion (U.S.) and is set to produce three million tons a year of phosphate concentrate for 26 years, making it the largest independent phosphate mine set to come on stream. During construction of the Lac a Paul mine, over 2,000 jobs will be created, followed by 1,000 direct and indirect continuing jobs through the life of mine.

"This is a very decisive event for our company and the region as a whole," said Brian Ostroff, chief executive officer of Arianne Phosphate. "I believe that this greatly increases the chances of our project coming to fruition and something that many of the potential customers and financiers we are in discussions with wanted to see happen. This provides a good example of what can be accomplished when all stakeholders work together towards a common goal -- increased employment, upgraded infrastructure and economic development. Lastly, this is a big step towards unlocking the economics for our shareholders who have supported us over the years as our project has moved towards realization."

About Arianne Phosphate Inc.

Arianne Phosphate is developing the Lac a Paul phosphate deposits located approximately 200 kilometres north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high-quality igneous apatite concentrate grading 39 per cent P2O5 (phosphorus pentoxide) with little or no contaminants (feasibility study released in 2013).

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