Saguenay, September 25, 2012. The management of Arianne Resources Inc. (the “Company” or “Arianne”) is pleased to announce the appointment of Mr. Pierre Lortie as Director of the Company and Chairman of the Board. In this new role, Mr. Lortie will assist for the strategic directions of the Company.
Pierre Lortie is a senior Business Advisor at Fraser Milner Casgrain LLP, a major Canadian law firm recognized as a leader in business-related legal matters across Canada. He is also a Director of Element Financial Corporation, Group Canam Inc., Tembec Inc. and Biocean Inc. Pierre held senior executive positions at Bombardier until December 2003 where he served as President and COO of Bombardier Transportation; President and COO of Bombardier Capital; President and COO of Bombardier International; and President of Bombardier Aerospace, Regional Aircraft. He has been Chairman, President and CEO of Provigo Inc.; President and CEO of the Montreal Stock Exchange and a Senior Partner of Secor Inc.
He received an M.B.A. with honours from the University of Chicago, a license in applied economics from the Université Louvain in Belgium, and a Bachelor’s degree in applied sciences (engineering physics) from Université Laval, Canada. He was awarded a Doctorate Honoris Causa in civil law from Bishop’s University and was appointed Member of the Order of Canada in 2001.
“This appointment is a significant step forward for Arianne Resources and clearly demonstrates the Company’s commitment to developing the Lac à Paul phosphate mine. Pierre not only has an impressive track record, he was also actively involved in the development of the Bloom Lake mining project by Consolidated Thompson Iron Mines. His experience in developing a major mining project in Quebec will prove very useful for Arianne”, stated Bernard Lapointe, CEO of the Company.
The Company’s top executives now include Pierre Lortie, Chairman of the Board, who will act as strategic advisor; Bernard Lapointe, CEO, who is focusing on the development of the open pit mine in the Saguenay–Lac-Saint-Jean region; and Jim Cowley, President, who is actively promoting the project. To complete this team, Arianne is counting on Nadège Tollari, V-P Research & Development; Daniel Boulianne, V-P Exploration; Jean-Sébastien David, V-P Operations, and Derek Lindsey, CFO.
The Company is also announcing the departure of Mr. Alain Vachon as Director. We wish to acknowledge the hard work and energy invested by Alain these past few years to ensure the progress of Arianne and its projects.
Arianne Resources (www.arianne-inc.com) owns 100% interest in and is developing the Lac à Paul phosphate-titanium deposits that will produce a superior-grade apatite concentrate grading 39% P2O5. The Company has 69 million shares outstanding.
The Board of Directors of the Company announces the grant of 1,025,000 stock options to directors, executives and employees of the Company, pursuant to its stock option plan and subject to regulatory approval. The stock options are exercisable for a term of 10 years at an exercise price of $1.15 per share.
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, CEO Tel: (418) 549-7316 bernard@arianne-inc.com
Information: Jim Cowley, President Tel: (801) 599-3789 jim@arianne-inc.com Louis Morin, Investors Relations Tel: (514) 845-1101 lmorin@thebidcapitalmarkets.com
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