-Arianne to proceed to a prefeasibility study; receives support and a financial contribution
DAN: TSX-V (Canada)
JE9N: FSE (Germany)
DRRSF: OTC (USA)
SAGUENAY, QC, Aug. 9, 2018 /CNW Telbec/ - Arianne Phosphate (the "Company" or "Arianne") (TSXV: 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, today is pleased to announce that it has partnered with the Province of New Brunswick to further its review of constructing a phosphoric acid plant in Belledune, New Brunswick. As part of this agreement, the Government, through Opportunities New Brunswick ("ONB"), will provide a financial contribution toward the cost of a prefeasibility study, the next step in Arianne's assessment of its downstream opportunity.
"Over the last year, Arianne has been reviewing the possibility of vertically integrating its own phosphate rock production into a facility to produce phosphoric acid," said Brian Ostroff, CEO of Arianne Phosphate. "Our work to date has been positive and, especially with the industry now recovering from a five-year slump, it makes sense to move the idea to the next step, a prefeasibility study. We are in an enviable position. By having our own phosphate rock, we have the flexibility of either being a seller of our rock to those who need it or, going downstream and capturing that additional margin ourselves."
After the review of several locations Arianne believes that Belledune, New Brunswick would be a strong location to construct a plant. Most of the crucial infrastructure is already in place, namely a port that has the additional capacity to handle our operation, access to a skilled labour force, easy-access to some of the other necessary ingredients beyond Arianne's phosphate rock and, a strong willingness of would-be stakeholders to see this project advance.
"We want to thank all involved up to this point," said Jean-Sebastien David, Arianne Phosphate's COO. "The support from the Government of New Brunswick and Opportunities New Brunswick has been tremendous and has definitely helped steer us in the direction of Belledune. We appreciate their commitment to helping us fully review the possibility and, their contribution towards the prefeasibility study, which will be a deciding factor in our ultimate decision to proceed."
Arianne has already been working with the various groups that will be involved in the study, many of them local to New Brunswick. Once finalized, the prefeasibility study is expected to take roughly five months and will give the Company and the Province a good look at the opportunity. The results of the study will help isolate next steps.
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 (Feasibility Study released in 2013). The Company has 103,570,610 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.
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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.
SOURCE Arianne Phosphate Inc.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/August2018/09/c1677.html
Source: Jean-Sébastien David, C.O.O., Tel. : 418-549-7316, j.s.david@arianne-inc.com; Info: Brian Ostroff, C.E.O., Tel. : 514-908-4202, brian.ostroff@arianne-inc.com