Saguenay, February 29, 2012. The management of Arianne Resources Inc. (“Arianne” or the “Company”) (TSX V:DAN) is pleased to announce the following important infrastructure developments that will facilitate Lac à Paul phosphate product access to global markets:
- $10 million investment to connect the Port of Saguenay with Quebec’s railway network
- $15 million investment to modernize the Port of Saguenay for shipping Lac à Paul phosphate and other products
- Construction of a rail bridge to connect the road from Lac a Paul to the railway at Dolbeau-Mistassini
Rail Network to Connect to Port of Saguenay
On February 21, Serge Simard, Quebec Minister of Natural Resources and Wildlife, announced an investment of $10 million from the Quebec government to connect the Port of Saguenay to the existing rail network. “This improvement in infrastructure could play an important part in positioning Port of Saguenay for development of Plan Nord. Everyone agrees that a rail link is needed to develop the North. We will do everything possible to achieve our goals,” said Minister Simard. The work, including construction of a 12.5 km rail link, a rail yard and storage areas, should be completed by 2014.
The announcement followed that of Prime Minister Stephen Harper on January 17, who announced an investment of $15 million to modernize infrastructure at the Port of Saguenay. He was accompanied by Denis Lebel, the Member of Parliament for Roberval – Lac-Saint-Jean and Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Québec. “Québec’s ports play a vital role in ensuring the constant flow of goods and linking Canada to global markets,” said the Prime Minister. “An important part of Québec’s maritime transportation system, the Port of Saguenay is no exception. By supporting its development, we are helping to create employment and economic growth in the region and in Northern Québec.”
Heavy-Duty Gravel Roads to Connect to the Dolbeau-Mistassini Rail Network
On January 28, Le Quotidien newspaper announced that construction of a railway bridge at Dolbeau-Mistassini is well underway. Feasibility studies are continuing to determine the exact location of the future bridge. The warden of the Maria Chapdelaine Regional County Municipality (RCM), Jean-Pierre Boivin, indicated that his RCM is working to accelerate the studies and discussions with the companies involved. The bridge will connect the network of heavy duty gravel roads to Dolbeau-Mistassini’s rail network and thus facilitate the transport of concentrate while reducing initial investment costs for Arianne Resources to develop the Lac à Paul deposit.
Other product transportation scenarios continue to be evaluated, including a route running east of Lac St-Jean to the railway link in the town of Alma.
“These announcements signal a major benefit to the Lac à Paul Project. Once the infrastructural connections are completed, it will be possible to transport our phosphate concentrate directly from the mine to the railway and from there, to the Port of Saguenay for shipment to international markets. We are pleased with our government`s show of support for projects like Lac à Paul at the regional, provincial and federal level alike, as evidenced by these investments.” said Bernard Lapointe, CEO of the Company.
Arianne Resources (www.arianne-inc.com), through its wholly owned subsidiary, Canada Phosphate (www.canadaphosphate.com), is developing the Lac à Paul phosphorus-titanium deposit, which will produce high quality apatite concentrate grading 39% P2O5. Arianne Resources also explores properties highly prospective for gold, silver and other metals, in Canada and Mexico. The Company has 66 million outstanding shares.
Visit our new website and view our promotional video at: http://www.arianne-inc.com/investors/video/
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.
Source: Bernard Lapointe, C.E.O Tel: (418) 549-7316 bernard@arianne-inc.com
Info: Jim Cowley, President Tel: (801) 599-3789 jim@arianne-inc.com Louis Morin – Investor Relations Tel: (514) 845-1101 lmorin@thebidcapitalmarkets.com
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