SAGUENAY, QUEBEC – (October 26, 2015) – Arianne Phosphate (the “Company” or “Arianne”), a development-stage phosphate mining company, today issued the following statement commenting on the favorable independent report released by the Bureau d’audiences publiques sur l’environnement (BAPE) on the company’s Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region.
“On behalf of Arianne, its management team and its stakeholders, I would like to thank the BAPE commissioners Mme Parent and Mr. Locat for overseeing the public hearing process and issuing a comprehensive independent report in a timely, fair and transparent manner,” said Pierre Fitzgibbon, Chairman of Arianne Phosphate Inc. “We are especially pleased that the BAPE report raised no major objections to the development of our project, suggesting to us that there would be no reason for the Quebec Government to withhold support for the project. Furthermore, we were gratified to see the commission highlighting many of the positive attributes associated with the Lac à Paul project.”
The BAPE review is the last in a process that a company must undergo in order to receive its final permitting. With this report now concluded and its positive assessment in hand, Arianne is confident that it has met all of the conditions required to obtain its final decree, and is encouraged that the Quebec government will issue the decree in a timely fashion.
“As not only the COO of Arianne, but as a member of this community, I am very pleased with the conclusions reached by the BAPE,” said Jean-Sebastien David, Chief Operating Officer of Arianne Phosphate. “I think the Commissioners got it right as they concluded that this project definitely has the overwhelming support from the area and, the development of Lac à Paul, will be a major contributing factor towards the improvement of our region and the lives of those in the Saguenay Lac St. Jean area. The BAPE’s consideration for the future was clear as it highlighted many of the long-term benefits
associated with this project. Elements such as multigenerational job creation, opportunities for the youth of our region and spin-off benefits from this project to other industries, such as tourism, as a result of the infrastructure that will be created were all cited by the commission as significant benefits.”
Mr. David added, “The BAPE’s questions surrounding the method by which the development of a port and the process to be followed were expected given the scale of our project. Lac à Paul transcends federal and provincial jurisdictions and we understand the BAPE’s view that it be handled in a precise and effective manner. Ultimately, we believe the BAPE report and its positive conclusions have paved the way for Arianne to receive its final decree from the Quebec Minister of Sustainable Development, Environment and the Fight Against Climate Change, approving mine construction. In anticipation of the final decree, we continue to work on optimizing the project costs, reviewing our financing options and advancing discussions with potential strategic partners.”
In advance ofthe Company receiving its Ministerial Decree, Arianne has already seen the tabling of various initiatives to support the project, the most recent being the development of a multi-use eco-park by the MRC of the Fjord du Saguenay. As well, in immediate response to the positive findings from the BAPE, numerous groups have already weighed in to ask the Government of Quebec to issue the decree immediately.
Development of Arianne’s Lac-à-Paul project is expected to generate a $1.2 billion investment, create more than 2,200 direct and in-direct jobs during the construction phase and create approximately 1,000 jobs during a 25 year life of mine operation for the Saguenay/Lac St. Jean region based on a study completed by the accounting firm Raymond Chabot Grant Thornton. The study also indicated that Lac à Paul project will pioneer a new industry in the province while generating roughly $1 billion in employment income as well as more than $12.6 billion in overall economic benefit for the province of Quebec.
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.
The Bureau d’audiences publiques sur l’environnement (BAPE) is an independent agency dedicated to public information and consultation on projects in Quebec likely to have a major impact on the environment or any other question related to the quality of the environment. The BAPE carries out the mandates entrusted to it by the Minister of Sustainable Development, Environment and the Fight Against Climate Change, including public information and consultations as well as public hearing mandates. Following each of its mandates, the BAPE conveys to the Minister the concerns of citizens as expressed during the public consultation. In the case of a public hearing, the BAPE also informs the Minister of its findings and its analysis in regard to the project concerned. The BAPE may also receive other types of mandates involving either a public inquiry mandate or a mediation process
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 are expected to produce a high quality igneous apatite concentrate grading 39% P2O5 with little or no contaminants (please refer to the Company’s Feasibility Study and Technical Report in support thereof dated October 24, 2013, a copy of which is available on SEDAR at www.sedar.com). The Company has 95,325,755 million shares outstanding.
(1) Cautionary Statements: Operating cost estimates have been developed by Arianne utilizing internal and skilled third party resources and are dependent on agreement with government and statutory authorities and vendors which have not all yet been completed. They are therefore not 43-101 compliant at this time.
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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Forward Looking Statements and Information
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.