Mason Graphite Inc. (MGPHF: OTCQX International) | Mason Graphite Files Mineral Resource Update Technical Report for its Lac Guéret Project

OTC

MONTREAL, Jan. 17, 2014 /CNW/ – Mason Graphite Inc. (“Mason Graphite” or the “Company”) (TSXV: LLG) has filed a National
Instrument 43-101 compliant technical report dated January 17, 2014
entitled “NI 43-101 Technical Report on the Mineral Resource Estimation
Update 2013 Lac Guéret Graphite Project, Québec-Canada” under its
profile on SEDAR at www.sedar.com and its website at www.masongraphite.com. The comprehensive report combines the details of the mineral resource
estimate update (the results of which were announced in a news release
dated December 5, 2013) as well as the results of the Preliminary
Economic Assessment (published June 6, 2013) (“PEA”) of the Company’s
100% owned Lac Guéret Project.

Report highlights:

  • Large mineral resource increase in the Measured and Indicated categories
    from 7.6 million tonnes to 50 million tonnes and an increase in mineral
    resources in the Inferred category from 2.8 million tonnes to 11.9
    million tonnes (see Table 1 below for details);
  • Excellent PEA results maintained: first 22 years of production at 27.4 %
    Cg and low operating costs of $390/tonne;
  • Environmental baseline study has been completed and the report contains
    the main conclusions showing that there are no environmental issues
    that would prevent the project from moving forward.

Table 1 – Updated Mineral Resource Estimate on GC Zone, December 5, 2013

The mineral resource estimate update was prepared by Roche Ltd.
Consulting Group (“Roche”) and the technical report was prepared by
Met-Chem Canada Inc.

Qualified Persons

Mary-Jean Buchanan, Eng. M.Env., of Met-Chem Canada Inc., an independent
Qualified Person as defined by National Instrument 43-101, has reviewed
and approved the technical content in this press release pertaining to
the PEA.

Martin Perron, Eng., of Roche Ltd. Consulting Group, an independent
Qualified Person as defined by National Instrument 43-101, has reviewed
and approved the technical content in this press release pertaining to
the mineral resource estimate update.

Martin Magnan, Eng., M.Sc. of Roche Ltd. Consulting Group, an
independent Qualified Person as defined by National Instrument 43-101,
has reviewed and approved the technical content in this press release
pertaining to the environmental baseline study.

Jean L’Heureux, Eng., Executive Vice President Process Development for
Mason Graphite, and a Qualified Person for Mason Graphite as defined by
National Instrument 43-101, has reviewed and approved this press
release.

About Mason Graphite

Mason Graphite is a Canadian mining company focused on the exploration
and development of its 100% owned Lac Guéret graphite property, located
in northeastern Québec. The property hosts a National Instrument 43-101
compliant Mineral Resource featuring 50,024,000 tonnes grading 15.6%
Cg, including 6,672,000 tonnes grading 32.4% Cg, in the Measured and
Indicated categories and 11,861,000 tonnes grading 17.1% Cg, including
2,637,000 tonnes grading 30.5% Cg, in the Inferred category (see press
release dated December 5, 2013). Excellent potential exists for further
mineral resource growth. A Preliminary Economic Assessment study was
completed on a 7.6Mt mineral resource estimate from July 2012 which
features 22 years of production at 27.4% Cg and a pre-tax internal rate
of return of 33.7% (see technical report entitled “NI 43-101 Technical
Report on the Mineral Resources Estimation Update 2013 Lac Guéret
Graphite Project, Québec-Canada“, dated January 17, 2014). The
Company’s senior management team possesses significant graphite
expertise from their experience at Timcal/Imerys, including Benoît
Gascon, CPA, CA, who held executive positions for 20 years, including
over 6 years as President and CEO; Jean L’Heureux, Eng., Executive
Vice-President, Process Development, with over 20 years of experience;
and Luc Veilleux, CPA, CA, Chief Financial Officer and Executive
Vice-President, with 8 years of experience. Timcal, now owned by
Imerys, is one of the largest graphite producers in the world.

For more information about Mason Graphite, visit www.masongraphite.com or contact info@masongraphite.com.

Stay Connected: Twitter: @MasonGraphite      Facebook: /MasonGraphite

Cautionary Statements Regarding Forward Looking Information

This press release contains “forward-looking information” within the
meaning of Canadian securities legislation. All information contained
herein that is not clearly historical in nature may constitute
forward-looking information. Generally, such forward-looking
information can be identified by the use of forward-looking terminology
such as “plans”, “expects” or “does not expect”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases or state 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: (i) volatile
stock price; (ii) the general global markets and economic conditions;
(iii) the possibility of write-downs and impairments; (iv) the risk
associated with exploration, development and operations of mineral
deposits; (v) the risk associated with establishing title to mineral
properties and assets; (vi) the risks associated with entering into
joint ventures; (vii) fluctuations in commodity prices; (viii) the
risks associated with uninsurable risks arising during the course of
exploration, development and production; (ix) competition faced by the
resulting issuer in securing experienced personnel and financing; *
access to adequate infrastructure to support mining, processing,
development and exploration activities; (xi) the risks associated with
changes in the mining regulatory regime governing the resulting issuer;
(xii) the risks associated with the various environmental regulations
the resulting issuer is subject to; (xiii) risks related to regulatory
and permitting delays; (xiv) risks related to potential conflicts of
interest; (xv) the reliance on key personnel; (xvi) liquidity risks;
(xvii) the risk of potential dilution through the issue of common
shares; (xviii) the Company does not anticipate declaring dividends in
the near term; (xix) the risk of litigation; and (xx) risk management.

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 metal 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. Such forward-looking
information has been provided for the purpose of assisting investors in
understanding the Company’s business, operations and exploration plans
and may not be appropriate for other purposes. 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.

Neither the 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 Mason Graphite Inc.

Leave a Reply